Assenagon Asset Management S.A. Acquires New Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Assenagon Asset Management S.A. acquired a new position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,462 shares of the energy company's stock, valued at approximately $1,113,000.

Other institutional investors have also made changes to their positions in the company. Blue Trust Inc. lifted its position in shares of Ormat Technologies by 180.3% in the third quarter. Blue Trust Inc. now owns 356 shares of the energy company's stock worth $26,000 after purchasing an additional 229 shares in the last quarter. UMB Bank n.a. lifted its position 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 purchasing an additional 320 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Ormat Technologies by 115.3% in the second quarter. GAMMA Investing LLC now owns 730 shares of the energy company's stock worth $52,000 after purchasing an additional 391 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of Ormat Technologies in the first quarter worth $50,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Ormat Technologies by 50.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company's stock worth $117,000 after purchasing an additional 514 shares in the last quarter. Institutional investors own 95.49% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Oppenheimer upped their price target on shares of Ormat Technologies from $85.00 to $86.00 and gave the stock an "outperform" rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. upped their price target on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 16th. Finally, Roth Mkm reaffirmed a "buy" rating and set a $80.00 price target on shares of Ormat Technologies in a research report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $81.67.

Ormat Technologies Stock Performance

Shares of NYSE:ORA traded down $0.31 on Friday, hitting $78.71. The company had a trading volume of 420,213 shares, compared to its average volume of 365,591. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.72. The stock has a 50 day moving average price of $76.16 and a 200 day moving average price of $73.50. Ormat Technologies, Inc. has a 1-year low of $58.73 and a 1-year high of $82.39. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 35.94, a P/E/G ratio of 4.13 and a beta of 0.53.

Ormat Technologies (NYSE:ORA - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.37 by $0.03. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The business had revenue of $212.96 million for the quarter, compared to the consensus estimate of $214.07 million. During the same period in the prior year, the company posted $0.40 earnings per share. Ormat Technologies's revenue was up 9.3% compared to the same quarter last year. Analysts expect that Ormat Technologies, Inc. will post 1.92 EPS for the current year.

Ormat Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were paid a $0.12 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.61%. Ormat Technologies's dividend payout ratio (DPR) is presently 21.92%.

Insider Activity at Ormat Technologies

In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the sale, the director now directly owns 6,906 shares in the company, valued at $517,811.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 dated Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the sale, the director now directly owns 6,906 shares in the company, valued at $517,811.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dafna Sharir sold 433 shares of the stock in a transaction dated Friday, August 23rd. The stock was 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 directly owns 3,561 shares of the company's stock, valued at $266,754.51. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

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.