Geode Capital Management LLC Has $100.14 Million Stake in Ormat Technologies, Inc. (NYSE:ORA)

Geode Capital Management LLC raised its stake in Ormat Technologies, Inc. (NYSE:ORA) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,301,291 shares of the energy company’s stock after purchasing an additional 22,714 shares during the quarter. Geode Capital Management LLC owned 2.15% of Ormat Technologies worth $100,140,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its holdings in Ormat Technologies by 180.3% during the third quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock worth $26,000 after buying an additional 229 shares in the last quarter. Harrington Investments INC grew its stake in shares of Ormat Technologies by 3.0% in the 2nd quarter. Harrington Investments INC now owns 7,950 shares of the energy company’s stock worth $570,000 after acquiring an additional 230 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Ormat Technologies by 1.9% in the second quarter. Arizona State Retirement System now owns 15,214 shares of the energy company’s stock valued at $1,091,000 after purchasing an additional 286 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Ormat Technologies by 107.7% in the third quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock valued at $47,000 after purchasing an additional 320 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Ormat Technologies by 44.0% during the third quarter. GAMMA Investing LLC now owns 1,051 shares of the energy company’s stock valued at $81,000 after purchasing an additional 321 shares in the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ORA. Roth Mkm reaffirmed 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. Oppenheimer upped their target price on Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Ormat Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $84.50.

Ormat Technologies Trading Down 6.0 %

Shares of ORA stock opened at $67.19 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The firm has a market cap of $4.06 billion, a P/E ratio of 34.28, a PEG ratio of 3.75 and a beta of 0.53. The company has a 50 day moving average of $79.12 and a 200-day moving average of $75.90. Ormat Technologies, Inc. has a 12-month low of $59.41 and a 12-month high of $84.30.

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

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Wednesday, November 20th. Ormat Technologies’s payout ratio is currently 24.49%.

Insider Activity at Ormat Technologies

In related news, Director David Granot sold 1,256 shares of Ormat Technologies stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $82.00, for a total transaction of $102,992.00. Following the completion of the sale, the director now owns 3,576 shares of the company’s stock, valued at approximately $293,232. This trade represents a 25.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Corp Orix sold 3,700,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $75.38, for a total value of $278,906,000.00. Following the transaction, the insider now owns 2,976,077 shares of the company’s stock, valued at approximately $224,336,684.26. The trade was a 55.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,702,522 shares of company stock worth $279,103,917. 1.00% of the stock is owned by company insiders.

Ormat Technologies Company Profile

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.