Ontario Teachers Pension Plan Board Takes $2.52 Million Position in Ormat Technologies, Inc. $ORA

Ontario Teachers Pension Plan Board purchased a new position in Ormat Technologies, Inc. (NYSE:ORA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 26,163 shares of the energy company’s stock, valued at approximately $2,518,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. L & S Advisors Inc purchased a new position in Ormat Technologies in the third quarter valued at about $941,000. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Ormat Technologies by 5.2% in the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 13,535 shares of the energy company’s stock valued at $1,303,000 after buying an additional 668 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Ormat Technologies by 25.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,023 shares of the energy company’s stock worth $195,000 after buying an additional 414 shares during the last quarter. Caprock Group LLC purchased a new position in shares of Ormat Technologies in the 3rd quarter worth approximately $277,000. Finally, Rhumbline Advisers raised its stake in shares of Ormat Technologies by 1.6% during the 3rd quarter. Rhumbline Advisers now owns 199,542 shares of the energy company’s stock worth $19,206,000 after acquiring an additional 3,219 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on ORA. Jefferies Financial Group lowered shares of Ormat Technologies from a “buy” rating to a “hold” rating and lifted their price target for the stock from $125.00 to $130.00 in a report on Friday, February 13th. Oppenheimer raised their price objective on Ormat Technologies from $125.00 to $136.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. Citigroup upped their target price on Ormat Technologies from $110.00 to $128.00 and gave the company a “neutral” rating in a research report on Wednesday. UBS Group reissued a “buy” rating and issued a $148.00 price target on shares of Ormat Technologies in a report on Wednesday, February 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ormat Technologies in a research note on Thursday, January 22nd. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $129.80.

Ormat Technologies Stock Down 2.6%

Shares of ORA stock opened at $120.95 on Thursday. Ormat Technologies, Inc. has a fifty-two week low of $64.39 and a fifty-two week high of $132.58. The firm has a market capitalization of $7.35 billion, a PE ratio of 55.48, a P/E/G ratio of 5.03 and a beta of 0.77. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.70 and a current ratio of 0.77. The stock’s 50-day simple moving average is $118.25 and its 200-day simple moving average is $106.93.

Ormat Technologies Profile

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.