Chesapeake Capital Corp IL Makes New Investment in Ormat Technologies, Inc. (NYSE:ORA)

Chesapeake Capital Corp IL bought a new stake in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 6,739 shares of the energy company's stock, valued at approximately $522,000.

Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Ormat Technologies by 1.2% during the first quarter. Vanguard Group Inc. now owns 5,388,571 shares of the energy company's stock valued at $356,670,000 after acquiring an additional 63,943 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Ormat Technologies by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company's stock worth $104,030,000 after purchasing an additional 86,291 shares during the period. Van Berkom & Associates Inc. boosted its holdings in Ormat Technologies by 2.0% in the second quarter. Van Berkom & Associates Inc. now owns 1,322,936 shares of the energy company's stock valued at $94,855,000 after purchasing an additional 25,799 shares during the period. 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 in the last quarter. Finally, Y.D. More Investments Ltd boosted its stake in Ormat Technologies by 1,011.5% in the second quarter. Y.D. More Investments Ltd now owns 493,619 shares of the energy company's stock valued at $34,943,000 after acquiring an additional 449,209 shares in the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Dafna Sharir sold 433 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total transaction of $32,436.03. Following the completion of the transaction, the director now owns 3,561 shares in the company, valued at approximately $266,754.51. This represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Byron G. Wong sold 1,266 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.98, for a total value of $94,924.68. Following the sale, the director now owns 6,906 shares in the company, valued at $517,811.88. The trade was a 15.49 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Ormat Technologies Stock Down 0.6 %

Shares of Ormat Technologies stock traded down $0.48 on Friday, reaching $79.01. 299,348 shares of the company were exchanged, compared to its average volume of 468,901. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 40.31, a PEG ratio of 4.09 and a beta of 0.53. Ormat Technologies, Inc. has a one year low of $59.41 and a one year high of $84.30. The company has a 50-day moving average of $77.65 and a 200 day moving average of $74.77. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Ormat Technologies (NYSE:ORA - Get Free Report) 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. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The company had revenue of $211.80 million for the quarter, compared to analysts' expectations of $215.53 million. During the same period last year, the firm earned $0.47 earnings per share. The business's revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities research analysts forecast that Ormat Technologies, Inc. will post 1.93 earnings per share for the current year.

Ormat Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.61%. Ormat Technologies's dividend payout ratio (DPR) is currently 24.49%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Roth Mkm reaffirmed a "buy" rating and set a $92.00 price objective (up from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Oppenheimer increased their price target on Ormat Technologies from $86.00 to $91.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $84.50.

Ormat Technologies 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.