22,500 Shares in Ormat Technologies, Inc. (NYSE:ORA) Bought by Wesbanco Bank Inc.

Wesbanco Bank Inc. acquired a new stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 22,500 shares of the energy company's stock, valued at approximately $1,731,000.

A number of other large investors also recently bought and sold shares of the stock. Retirement Systems of Alabama boosted its holdings in Ormat Technologies by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 67,453 shares of the energy company's stock valued at $4,465,000 after acquiring an additional 177 shares during the period. Harrington Investments INC lifted its holdings in 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 buying an additional 230 shares in the last quarter. Arizona State Retirement System boosted its position in Ormat Technologies by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 15,214 shares of the energy company's stock valued at $1,091,000 after buying an additional 286 shares during the period. State of Michigan Retirement System grew its stake in shares of Ormat Technologies by 2.3% in the first quarter. State of Michigan Retirement System now owns 13,200 shares of the energy company's stock worth $874,000 after acquiring an additional 300 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Ormat Technologies by 107.7% in the third 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. Institutional investors and hedge funds own 95.49% of the company's stock.

Insider Activity

In related news, 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 transaction of $94,924.68. Following the completion of the sale, the director now owns 6,906 shares in the company, valued at $517,811.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Ormat Technologies news, 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 completion of the sale, the director now directly owns 6,906 shares of the company's stock, valued at approximately $517,811.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dafna Sharir sold 433 shares of the business's 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 directly owns 3,561 shares in the company, valued at approximately $266,754.51. The trade was a 0.00 % 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 Up 2.3 %

Ormat Technologies stock traded up $1.77 during mid-day trading on Wednesday, hitting $78.79. The company had a trading volume of 374,039 shares, compared to its average volume of 436,737. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.72. Ormat Technologies, Inc. has a 1 year low of $58.73 and a 1 year high of $78.80. The business has a fifty day moving average of $74.70 and a 200 day moving average of $72.22. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 35.49, a PEG ratio of 3.92 and a beta of 0.53.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.03. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The firm had revenue of $212.96 million during the quarter, compared to analysts' expectations of $214.07 million. During the same period in the previous year, the company earned $0.40 earnings per share. Ormat Technologies's quarterly revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts expect that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Tuesday, August 20th. Ormat Technologies's payout ratio is currently 21.62%.

Analyst Ratings Changes

ORA has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Ormat Technologies from $69.00 to $75.00 and gave the company a "neutral" rating in a report on Tuesday, July 16th. Roth Mkm restated a "buy" rating and set a $80.00 target price on shares of Ormat Technologies in a research note on Monday, August 12th. Finally, Oppenheimer lifted their price target on shares of Ormat Technologies from $85.00 to $86.00 and gave the stock an "outperform" rating in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Ormat Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $81.67.

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.