Summit Partners Public Asset Management LLC Boosts Position in Ormat Technologies, Inc. (NYSE:ORA)

Summit Partners Public Asset Management LLC raised its position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 16.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 350,000 shares of the energy company's stock after acquiring an additional 50,000 shares during the period. Summit Partners Public Asset Management LLC owned approximately 0.58% of Ormat Technologies worth $26,929,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ORA. Quadrature Capital Ltd acquired a new stake in Ormat Technologies in the first quarter valued at $309,000. Tidal Investments LLC boosted its holdings in Ormat Technologies by 433.4% during the first quarter. Tidal Investments LLC now owns 15,075 shares of the energy company's stock worth $998,000 after buying an additional 12,249 shares in the last quarter. Virtu Financial LLC purchased a new position in Ormat Technologies in the first quarter valued at about $246,000. Swedbank AB purchased a new position in Ormat Technologies in the first quarter valued at about $7,907,000. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Ormat Technologies by 81.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 9,049 shares of the energy company's stock valued at $597,000 after acquiring an additional 4,072 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Price Performance

NYSE:ORA traded up $0.03 during trading hours on Friday, reaching $81.62. 216,484 shares of the company traded hands, compared to its average volume of 436,237. 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 firm's 50-day moving average is $78.77 and its 200-day moving average is $75.46. The stock has a market cap of $4.94 billion, a P/E ratio of 41.63, a P/E/G ratio of 4.22 and a beta of 0.53. 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 posted its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.05. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The business had revenue of $211.80 million for the quarter, compared to analyst estimates of $215.53 million. During the same quarter last year, the company earned $0.47 earnings per share. The business's revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts expect that Ormat Technologies, Inc. will post 1.93 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Wednesday, November 20th. Ormat Technologies's payout ratio is 24.49%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ORA. Roth Mkm reaffirmed a "buy" rating and issued a $92.00 price objective (up from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Oppenheimer raised their price target on Ormat Technologies from $86.00 to $91.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $84.50.

Insider Activity at Ormat Technologies

In related news, Director Byron G. Wong sold 1,266 shares of the stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company's stock.

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.