Erste Asset Management GmbH Makes New $19.10 Million Investment in Ormat Technologies, Inc. (NYSE:ORA)

Erste Asset Management GmbH bought a new position in shares of Ormat Technologies, Inc. (NYSE:ORA) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 246,572 shares of the energy company’s stock, valued at approximately $19,096,000. Erste Asset Management GmbH owned about 0.41% of Ormat Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of ORA. Susquehanna International Group Ltd. purchased a new stake in Ormat Technologies during the 2nd quarter worth approximately $1,006,000. Tidal Investments LLC lifted its position in shares of Ormat Technologies by 433.4% during the first quarter. Tidal Investments LLC now owns 15,075 shares of the energy company’s stock worth $998,000 after purchasing an additional 12,249 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in Ormat Technologies by 1,011.5% during the 2nd quarter. Y.D. More Investments Ltd now owns 493,619 shares of the energy company’s stock worth $34,943,000 after buying an additional 449,209 shares during the last quarter. Chesapeake Capital Corp IL acquired a new position in Ormat Technologies in the third quarter worth $522,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Ormat Technologies by 2.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 560,029 shares of the energy company’s stock valued at $40,154,000 after buying an additional 15,004 shares during the period. 95.49% of the stock is owned by hedge funds and other institutional investors.

Ormat Technologies Trading Up 0.0 %

NYSE:ORA opened at $81.62 on Monday. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 41.64, a PEG ratio of 4.22 and a beta of 0.53. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. Ormat Technologies, Inc. has a 1 year low of $59.41 and a 1 year high of $84.30. The business has a fifty day moving average of $78.89 and a 200-day moving average of $75.55.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Wednesday, November 6th. The energy company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.31 by $0.05. The firm had revenue of $211.80 million for the quarter, compared to analysts’ expectations of $215.53 million. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 earnings per share. Equities analysts predict that Ormat Technologies, Inc. will post 1.93 earnings per share for the current year.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Wednesday, November 20th. Ormat Technologies’s payout ratio is 24.49%.

Insider Activity at Ormat Technologies

In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.98, for a total value of $94,924.68. Following the completion of the transaction, the director now directly owns 6,906 shares in the company, valued at $517,811.88. This trade represents a 15.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ORA. Oppenheimer upped their price objective on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Roth Mkm reiterated a “buy” rating and issued a $92.00 price objective (up from $87.00) on shares of Ormat Technologies in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Ormat Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $84.50.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.