Holocene Advisors LP Raises Stake in Ormat Technologies, Inc. (NYSE:ORA)

Holocene Advisors LP increased its stake in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 28.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,121 shares of the energy company's stock after purchasing an additional 10,718 shares during the quarter. Holocene Advisors LP owned 0.08% of Ormat Technologies worth $3,702,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Global Alpha Capital Management Ltd. boosted its holdings in shares of Ormat Technologies by 6.1% in the third quarter. Global Alpha Capital Management Ltd. now owns 2,446,624 shares of the energy company's stock valued at $188,125,000 after acquiring an additional 140,882 shares in the last quarter. Dimensional Fund Advisors LP increased its position in 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. raised its stake in shares of Ormat Technologies by 2.0% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,322,936 shares of the energy company's stock worth $94,855,000 after buying an additional 25,799 shares in the last quarter. Bank of New York Mellon Corp lifted 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 during the period. Finally, Y.D. More Investments Ltd boosted its stake in shares of 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 buying an additional 449,209 shares in the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Oppenheimer raised 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. Roth Mkm reissued a "buy" rating and set a $92.00 price objective (up previously from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $84.50.

Ormat Technologies Price Performance

ORA traded up $0.79 during midday trading on Friday, reaching $78.99. 427,832 shares of the company's stock were exchanged, compared to its average volume of 436,209. Ormat Technologies, Inc. has a 1-year low of $59.41 and a 1-year high of $84.30. The stock has a market capitalization of $4.78 billion, a PE ratio of 39.90, a P/E/G ratio of 4.12 and a beta of 0.53. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. The business's 50-day moving average price is $79.15 and its 200 day moving average price is $75.72.

Ormat Technologies (NYSE:ORA - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.05. The firm had revenue of $211.80 million during the quarter, compared to the consensus estimate of $215.53 million. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The company's quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 EPS. As a group, equities analysts anticipate that Ormat Technologies, Inc. will post 1.93 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Wednesday, November 20th. Ormat Technologies's dividend payout ratio is presently 24.49%.

Insider Activity at Ormat Technologies

In related news, Director David Granot sold 1,256 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $82.00, for a total value of $102,992.00. Following the completion of the sale, the director now directly owns 3,576 shares in the company, valued at approximately $293,232. The trade was a 25.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Byron G. Wong sold 1,266 shares of the 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 transaction, the director now directly owns 6,906 shares in the company, valued at approximately $517,811.88. This represents a 15.49 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

About Ormat Technologies

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.