Global Alpha Capital Management Ltd. Acquires 140,882 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Global Alpha Capital Management Ltd. boosted its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 6.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,446,624 shares of the energy company’s stock after acquiring an additional 140,882 shares during the quarter. Ormat Technologies makes up approximately 12.2% of Global Alpha Capital Management Ltd.’s holdings, making the stock its biggest holding. Global Alpha Capital Management Ltd.’s holdings in Ormat Technologies were worth $188,125,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ORA. Banque Cantonale Vaudoise raised its position in Ormat Technologies by 9.2% in the third quarter. Banque Cantonale Vaudoise now owns 19,063 shares of the energy company’s stock valued at $1,467,000 after purchasing an additional 1,612 shares during the last quarter. Caprock Group LLC bought a new position in shares of Ormat Technologies during the third quarter worth about $450,000. Pathstone Holdings LLC raised its position in shares of Ormat Technologies by 2.4% during the third quarter. Pathstone Holdings LLC now owns 17,729 shares of the energy company’s stock worth $1,364,000 after acquiring an additional 422 shares during the last quarter. Chesapeake Capital Corp IL bought a new position in shares of Ormat Technologies during the third quarter worth about $522,000. Finally, Mizuho Markets Americas LLC raised its position in shares of Ormat Technologies by 5.8% during the third quarter. Mizuho Markets Americas LLC now owns 151,211 shares of the energy company’s stock worth $11,634,000 after acquiring an additional 8,317 shares during the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ORA shares. Oppenheimer raised their price objective on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Roth Mkm reiterated a “buy” rating and issued a $92.00 target price (up from $87.00) on shares of Ormat Technologies in a report 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.50.

Ormat Technologies Trading Down 0.1 %

Shares of ORA stock opened at $79.36 on Wednesday. The company has a market cap of $4.80 billion, a P/E ratio of 40.49, a PEG ratio of 4.09 and a beta of 0.53. The stock has a 50 day simple moving average of $77.93 and a two-hundred day simple moving average of $74.95. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. Ormat Technologies, Inc. has a fifty-two week low of $59.41 and a fifty-two week high of $84.30.

Ormat Technologies (NYSE:ORA) last announced 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 firm had revenue of $211.80 million during the quarter, compared to analysts’ expectations of $215.53 million. During the same quarter last year, the firm posted $0.47 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. Research analysts forecast that Ormat Technologies, Inc. will post 1.93 earnings per share for the current year.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.60%. Ormat Technologies’s payout ratio is 24.49%.

Insider Activity at Ormat Technologies

In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.98, for a total value of $94,924.68. Following the transaction, the director now owns 6,906 shares of the company’s stock, valued at approximately $517,811.88. The trade was a 15.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dafna Sharir sold 433 shares of the business’s stock in a transaction 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 sale, the director now owns 3,561 shares in the company, valued at approximately $266,754.51. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.46% of the stock is owned by 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.