Ormat Technologies, Inc. (NYSE:ORA) Shares Bought by Empower Advisory Group LLC

Empower Advisory Group LLC increased its position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 4.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 194,680 shares of the energy company's stock after purchasing an additional 8,403 shares during the period. Empower Advisory Group LLC owned approximately 0.32% of Ormat Technologies worth $14,979,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in shares of Ormat Technologies by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 356 shares of the energy company's stock valued at $26,000 after purchasing an additional 229 shares in the last quarter. Harrington Investments INC raised its stake in shares of Ormat Technologies by 3.0% during 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 stake in shares of Ormat Technologies by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 15,214 shares of the energy company's stock worth $1,091,000 after acquiring an additional 286 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Ormat Technologies by 107.7% during the 3rd quarter. UMB Bank n.a. now owns 617 shares of the energy company's stock worth $47,000 after acquiring an additional 320 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Ormat Technologies by 44.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,051 shares of the energy company's stock worth $81,000 after acquiring an additional 321 shares in the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ORA has been the subject of several recent analyst reports. Oppenheimer boosted their price objective on shares of Ormat Technologies from $86.00 to $91.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Roth Mkm reissued a "buy" rating and set a $92.00 target price (up previously from $87.00) on shares of Ormat Technologies in a research report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $84.50.

Ormat Technologies Price Performance

Shares of NYSE ORA traded up $0.30 during mid-day trading on Thursday, reaching $79.52. The company's stock had a trading volume of 404,309 shares, compared to its average volume of 439,336. The stock has a 50-day moving average of $77.40 and a two-hundred day moving average of $74.50. The stock has a market capitalization of $4.81 billion, a P/E ratio of 40.38, a P/E/G ratio of 4.16 and a beta of 0.53. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. Ormat Technologies, Inc. has a 1-year low of $59.41 and a 1-year high of $84.30.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.05. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The firm had revenue of $211.80 million during the quarter, compared to analyst estimates of $215.53 million. During the same quarter in the prior year, the firm posted $0.47 earnings per share. Ormat Technologies's quarterly revenue was up 1.8% on a year-over-year basis. On average, equities research analysts anticipate that Ormat Technologies, Inc. will post 1.91 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Wednesday, November 20th. Ormat Technologies's dividend payout ratio is presently 24.49%.

Insider Buying and Selling at Ormat Technologies

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

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.