224,096 Shares in Ormat Technologies, Inc. $ORA Purchased by Ranger Investment Management L.P.

Ranger Investment Management L.P. bought a new stake in Ormat Technologies, Inc. (NYSE:ORA) during the second quarter, HoldingsChannel reports. The fund bought 224,096 shares of the energy company’s stock, valued at approximately $24,404,000. Ormat Technologies makes up about 1.5% of Ranger Investment Management L.P.’s investment portfolio, making the stock its 20th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of ORA. BlackRock Inc. acquired a new position in Ormat Technologies in the 2nd quarter worth approximately $896,374,000. Clal Insurance Enterprises Holdings Ltd acquired a new stake in Ormat Technologies during the 2nd quarter valued at approximately $259,568,000. Norges Bank acquired a new stake in Ormat Technologies during the 4th quarter valued at approximately $86,545,000. Canada Pension Plan Investment Board boosted its holdings in shares of Ormat Technologies by 62.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock valued at $89,928,000 after acquiring an additional 413,384 shares during the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of Ormat Technologies in the 2nd quarter valued at $42,015,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Insider Buying and Selling

In related news, Director Stanley Stern sold 250 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $138.42, for a total transaction of $34,605.00. Following the sale, the director owned 5,800 shares in the company, valued at approximately $802,836. This trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Ormat Technologies Trading Up 0.2%

Ormat Technologies stock opened at $108.62 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.87. Ormat Technologies, Inc. has a 12 month low of $89.08 and a 12 month high of $146.39. The stock’s 50 day simple moving average is $110.90 and its two-hundred day simple moving average is $116.62. The firm has a market cap of $6.68 billion, a PE ratio of 53.51, a P/E/G ratio of 4.38 and a beta of 0.90.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.24. The business had revenue of $258.76 million for the quarter, compared to analysts’ expectations of $240.03 million. Ormat Technologies had a net margin of 10.66% and a return on equity of 6.61%. The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company earned $0.48 EPS. Analysts anticipate that Ormat Technologies, Inc. will post 2.47 earnings per share for the current year.

Ormat Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. Ormat Technologies’s dividend payout ratio is 23.65%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ORA. Sanford C. Bernstein reissued an “underperform” rating and set a $112.00 target price on shares of Ormat Technologies in a report on Monday, August 10th. Roth Capital reaffirmed a “buy” rating and issued a $135.00 price target on shares of Ormat Technologies in a report on Monday, May 11th. Wolfe Research assumed coverage on shares of Ormat Technologies in a report on Monday, June 8th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. increased their price target on Ormat Technologies from $106.00 to $123.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, UBS Group lifted their price objective on Ormat Technologies from $143.00 to $152.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.83.

Ormat Technologies Profile

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.