Great West Life Assurance Co. Can Has $295,000 Position in Ormat Technologies, Inc. (ORA)
Great West Life Assurance Co. Can increased its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 42.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 4,665 shares of the energy company’s stock after acquiring an additional 1,386 shares during the period. Great West Life Assurance Co. Can’s holdings in Ormat Technologies were worth $295,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in Ormat Technologies by 4.4% in the second quarter. Vanguard Group Inc. now owns 3,366,355 shares of the energy company’s stock worth $197,538,000 after acquiring an additional 142,724 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Ormat Technologies by 6.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,526,801 shares of the energy company’s stock worth $89,594,000 after buying an additional 96,288 shares during the period. Renaissance Technologies LLC boosted its position in shares of Ormat Technologies by 17.8% during the second quarter. Renaissance Technologies LLC now owns 1,085,257 shares of the energy company’s stock worth $63,683,000 after buying an additional 164,100 shares during the period. State Street Corp boosted its position in shares of Ormat Technologies by 7.5% during the second quarter. State Street Corp now owns 778,621 shares of the energy company’s stock worth $45,685,000 after buying an additional 54,489 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Ormat Technologies by 3.5% during the second quarter. Northern Trust Corp now owns 501,933 shares of the energy company’s stock worth $29,454,000 after buying an additional 16,822 shares during the period. Institutional investors own 46.34% of the company’s stock.
In related news, EVP Bob Sullivan sold 9,890 shares of Ormat Technologies stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $62.89, for a total value of $621,982.10. Following the completion of the transaction, the executive vice president now directly owns 9,890 shares in the company, valued at $621,982.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Etty Rosner sold 9,983 shares of the firm’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $60.23, for a total value of $601,276.09. Following the completion of the sale, the senior vice president now owns 9,983 shares in the company, valued at $601,276.09. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,972 shares of company stock valued at $3,359,598. 14.74% of the stock is currently owned by company insiders.
Ormat Technologies, Inc. (ORA) opened at $63.81 on Tuesday. The stock has a market capitalization of $3,228.60, a price-to-earnings ratio of 27.39, a P/E/G ratio of 2.14 and a beta of 1.23. Ormat Technologies, Inc. has a fifty-two week low of $51.44 and a fifty-two week high of $66.46. The company has a quick ratio of 1.62, a current ratio of 1.72 and a debt-to-equity ratio of 0.65.
Ormat Technologies (NYSE:ORA) last released its earnings results on Tuesday, November 7th. The energy company reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.06). The company had revenue of $157.20 million during the quarter, compared to analysts’ expectations of $159.02 million. Ormat Technologies had a net margin of 16.99% and a return on equity of 9.41%. The company’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same quarter last year, the business posted $0.56 earnings per share. research analysts anticipate that Ormat Technologies, Inc. will post 2.21 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Tuesday, November 21st were issued a $0.08 dividend. The ex-dividend date was Monday, November 20th. This represents a $0.32 dividend on an annualized basis and a yield of 0.50%. Ormat Technologies’s dividend payout ratio (DPR) is presently 13.73%.
Several research firms have recently commented on ORA. TheStreet upgraded Ormat Technologies from a “c+” rating to a “b-” rating in a research report on Monday, November 13th. Roth Capital set a $70.00 price target on Ormat Technologies and gave the stock a “buy” rating in a research report on Monday, November 13th. Zacks Investment Research lowered Ormat Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Finally, Oppenheimer restated a “buy” rating and set a $70.00 price target (up from $65.00) on shares of Ormat Technologies in a research report on Wednesday, September 27th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Ormat Technologies currently has a consensus rating of “Buy” and an average price target of $67.86.
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Ormat Technologies Company Profile
Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.
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