Beck Bode LLC Grows Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Beck Bode LLC grew its stake in Ormat Technologies, Inc. (NYSE:ORA) by 8.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 130,431 shares of the energy company’s stock after acquiring an additional 9,968 shares during the period. Ormat Technologies comprises 2.2% of Beck Bode LLC’s investment portfolio, making the stock its 15th biggest holding. Beck Bode LLC’s holdings in Ormat Technologies were worth $9,885,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ORA. Harel Insurance Investments & Financial Services Ltd. increased its stake in Ormat Technologies by 12,165.8% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 691,298 shares of the energy company’s stock worth $48,336,000 after buying an additional 685,662 shares during the period. Impax Asset Management Group plc increased its stake in Ormat Technologies by 15.0% during the 4th quarter. Impax Asset Management Group plc now owns 2,638,182 shares of the energy company’s stock worth $199,004,000 after buying an additional 343,650 shares during the period. Van Berkom & Associates Inc. increased its stake in Ormat Technologies by 32.0% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,035,686 shares of the energy company’s stock worth $72,415,000 after buying an additional 250,884 shares during the period. Global Alpha Capital Management Ltd. increased its stake in Ormat Technologies by 6.4% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 2,117,339 shares of the energy company’s stock worth $149,232,000 after buying an additional 127,149 shares during the period. Finally, LGT Capital Partners LTD. increased its stake in Ormat Technologies by 26.6% during the 4th quarter. LGT Capital Partners LTD. now owns 524,710 shares of the energy company’s stock worth $39,768,000 after buying an additional 110,330 shares during the period. 95.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ORA shares. Oppenheimer cut their target price on shares of Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating on the stock in a research note on Friday, January 19th. TD Cowen dropped their price objective on shares of Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating on the stock in a research report on Friday, February 23rd. Finally, Barclays dropped their price objective on shares of Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Monday, February 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $81.00.

Ormat Technologies Stock Down 1.0 %

Shares of NYSE:ORA traded down $0.65 during trading hours on Tuesday, reaching $63.83. The stock had a trading volume of 374,177 shares, compared to its average volume of 479,614. The firm’s 50 day moving average is $64.83 and its 200-day moving average is $66.93. Ormat Technologies, Inc. has a 1 year low of $58.73 and a 1 year high of $88.26. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.20. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 30.48, a P/E/G ratio of 2.95 and a beta of 0.48.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.07. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. The business had revenue of $241.30 million during the quarter, compared to analysts’ expectations of $239.71 million. During the same quarter in the prior year, the business posted $0.73 EPS. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. Research analysts predict that Ormat Technologies, Inc. will post 2.14 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Tuesday, March 5th. Ormat Technologies’s payout ratio is 22.97%.

Insider Activity

In other news, Director Stanley Stern sold 1,825 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $66.95, for a total value of $122,183.75. Following the completion of the transaction, the director now owns 4,835 shares in the company, valued at approximately $323,703.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.46% of the company’s stock.

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.