Intech Investment Management LLC Takes $895,000 Position in Ormat Technologies, Inc. (NYSE:ORA)

Intech Investment Management LLC bought a new position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,635 shares of the energy company's stock, valued at approximately $895,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ORA. Global Alpha Capital Management Ltd. lifted its position in shares of Ormat Technologies by 6.1% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 2,446,624 shares of the energy company's stock worth $188,125,000 after buying an additional 140,882 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Ormat Technologies by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company's stock valued at $104,030,000 after acquiring an additional 86,291 shares in the last quarter. Van Berkom & Associates Inc. increased its position in shares of Ormat Technologies by 2.0% during the second quarter. Van Berkom & Associates Inc. now owns 1,322,936 shares of the energy company's stock worth $94,855,000 after purchasing an additional 25,799 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Ormat Technologies by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 560,029 shares of the energy company's stock worth $40,154,000 after purchasing an additional 15,004 shares in the last quarter. Finally, Y.D. More Investments Ltd boosted its position in shares of Ormat Technologies by 1,011.5% in the 2nd quarter. Y.D. More Investments Ltd now owns 493,619 shares of the energy company's stock valued at $34,943,000 after purchasing an additional 449,209 shares during the period. 95.49% of the stock is owned by institutional investors and hedge funds.

Ormat Technologies Stock Performance

Shares of NYSE ORA traded up $0.03 during mid-day trading on Friday, hitting $81.62. 216,535 shares of the company were exchanged, compared to its average volume of 436,237. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 41.63, a price-to-earnings-growth ratio of 4.22 and a beta of 0.53. The stock has a 50 day simple moving average of $78.77 and a 200-day simple moving average of $75.46. 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 issued its quarterly earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.05. The business had revenue of $211.80 million for the quarter, compared to analyst estimates of $215.53 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The business's revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.47 earnings per share. On average, sell-side analysts forecast that Ormat Technologies, Inc. will post 1.93 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.59%. Ormat Technologies's dividend payout ratio (DPR) is presently 24.49%.

Analyst Ratings Changes

A number of brokerages have weighed in on ORA. Oppenheimer boosted their price objective on Ormat Technologies from $86.00 to $91.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Roth Mkm reiterated a "buy" rating and set a $92.00 price target (up previously from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.50.

Insider Buying and Selling

In other news, Director Byron G. Wong sold 1,266 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director now owns 6,906 shares of the company's stock, valued at $517,811.88. The trade was a 15.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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.