State of New Jersey Common Pension Fund D Has $2.04 Million Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

State of New Jersey Common Pension Fund D raised its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 4.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 26,554 shares of the energy company’s stock after acquiring an additional 1,125 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Ormat Technologies were worth $2,043,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Y.D. More Investments Ltd lifted its position in shares of Ormat Technologies by 1,011.5% during the 2nd quarter. Y.D. More Investments Ltd now owns 493,619 shares of the energy company’s stock valued at $34,943,000 after acquiring an additional 449,209 shares during the period. Swedbank AB bought a new position in shares of Ormat Technologies during the 1st quarter worth about $7,907,000. Dimensional Fund Advisors LP grew its stake in shares of Ormat Technologies by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company’s stock valued at $104,030,000 after buying an additional 86,291 shares during the period. Vanguard Group Inc. increased its position in Ormat Technologies by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 5,388,571 shares of the energy company’s stock valued at $356,670,000 after buying an additional 63,943 shares in the last quarter. Finally, Beck Bode LLC raised its stake in Ormat Technologies by 34.1% during the 1st quarter. Beck Bode LLC now owns 174,882 shares of the energy company’s stock worth $11,575,000 after buying an additional 44,451 shares during the period. 95.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on ORA shares. Oppenheimer boosted their price objective on Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, November 8th. 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. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $84.50.

Insiders Place Their Bets

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 sale, the director now owns 6,906 shares of the company’s stock, valued at approximately $517,811.88. This represents a 15.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dafna Sharir sold 433 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.91, for a total value of $32,436.03. Following the sale, the director now owns 3,561 shares in the company, valued at approximately $266,754.51. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Ormat Technologies Price Performance

Shares of NYSE:ORA opened at $79.01 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The stock has a market cap of $4.78 billion, a PE ratio of 40.31, a price-to-earnings-growth ratio of 4.10 and a beta of 0.53. The stock’s fifty day simple moving average is $77.65 and its two-hundred day simple moving average is $74.64. Ormat Technologies, Inc. has a 1-year low of $59.41 and a 1-year high of $84.30.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.05. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The business had revenue of $211.80 million for the quarter, compared to analysts’ expectations of $215.53 million. During the same period in the previous year, the company earned $0.47 earnings per share. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, analysts forecast that Ormat Technologies, Inc. will post 1.93 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Wednesday, November 20th. Ormat Technologies’s dividend payout ratio is currently 24.49%.

Ormat Technologies Company 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.