Victory Capital Management Inc. Acquires 349 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Victory Capital Management Inc. lifted its position in Ormat Technologies, Inc. (NYSE:ORA) by 1.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,245 shares of the energy company’s stock after buying an additional 349 shares during the period. Victory Capital Management Inc.’s holdings in Ormat Technologies were worth $1,362,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ORA. Vanguard Group Inc. lifted its stake in shares of Ormat Technologies by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company’s stock valued at $409,305,000 after purchasing an additional 274,540 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Ormat Technologies by 6.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,586,479 shares of the energy company’s stock worth $107,440,000 after buying an additional 93,418 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Ormat Technologies by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 1,373,426 shares of the energy company’s stock worth $93,029,000 after buying an additional 72,135 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Ormat Technologies by 273,109.4% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 956,233 shares of the energy company’s stock worth $67,673,000 after buying an additional 955,883 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Ormat Technologies in the fourth quarter valued at about $62,851,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ORA shares. JPMorgan Chase & Co. upped their price objective on shares of Ormat Technologies from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. UBS Group increased their price target on shares of Ormat Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Robert W. Baird raised shares of Ormat Technologies from a “neutral” rating to an “outperform” rating and raised their target price for the company from $87.00 to $103.00 in a report on Wednesday. Barclays raised their target price on shares of Ormat Technologies from $86.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Finally, Wall Street Zen raised shares of Ormat Technologies from a “sell” rating to a “hold” rating in a report on Monday, April 7th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $91.25.

Ormat Technologies Stock Up 1.5%

ORA stock opened at $89.45 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 0.77. Ormat Technologies, Inc. has a twelve month low of $61.58 and a twelve month high of $91.81. The company’s 50 day moving average is $82.82 and its two-hundred day moving average is $73.94. The stock has a market cap of $5.42 billion, a P/E ratio of 43.42, a PEG ratio of 4.25 and a beta of 0.64.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Wednesday, May 7th. The energy company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.10. The business had revenue of $229.76 million for the quarter, compared to analyst estimates of $228.33 million. Ormat Technologies had a net margin of 14.18% and a return on equity of 5.35%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.64 earnings per share. Research analysts expect that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st were given a $0.12 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $0.48 dividend on an annualized basis and a yield of 0.54%. Ormat Technologies’s dividend payout ratio (DPR) is 23.30%.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, Director Michal Marom sold 895 shares of the firm’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $73.47, for a total value of $65,755.65. Following the completion of the sale, the director owned 3,080 shares of the company’s stock, valued at approximately $226,287.60. This trade represents a 22.52% decrease in their ownership of the stock. 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 1,601 shares of the firm’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $85.63, for a total value of $137,093.63. Following the completion of the sale, the director directly owned 3,238 shares of the company’s stock, valued at approximately $277,269.94. This trade represents a 33.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,329 shares of company stock worth $423,443 over the last quarter. 0.56% 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.