PEAK6 Investments LLC Invests $435,000 in Ormat Technologies, Inc. (NYSE:ORA)

PEAK6 Investments LLC acquired a new stake in shares of Ormat Technologies, Inc. (NYSE:ORA) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,659 shares of the energy company’s stock, valued at approximately $435,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Global Alpha Capital Management Ltd. grew its holdings in shares of Ormat Technologies by 6.1% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 2,446,624 shares of the energy company’s stock valued at $188,125,000 after acquiring an additional 140,882 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Ormat Technologies by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company’s stock valued at $104,030,000 after purchasing an additional 86,291 shares in the last quarter. Van Berkom & Associates Inc. increased its position in Ormat Technologies by 2.0% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,322,936 shares of the energy company’s stock worth $94,855,000 after purchasing an additional 25,799 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Ormat Technologies by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 560,029 shares of the energy company’s stock worth $40,154,000 after purchasing an additional 15,004 shares in the last quarter. Finally, Y.D. More Investments Ltd lifted its holdings 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 buying an additional 449,209 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Analyst Upgrades and Downgrades

ORA has been the topic of a number of research reports. Oppenheimer increased their price objective on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Roth Mkm reissued a “buy” rating and issued a $92.00 target price (up from $87.00) on shares of Ormat Technologies in a research report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Ormat Technologies has an average rating of “Moderate Buy” and a consensus target price of $84.50.

Ormat Technologies Stock Performance

Shares of NYSE ORA opened at $79.58 on Wednesday. The business’s 50-day simple moving average is $79.01 and its 200-day simple moving average is $75.63. 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 52 week low of $59.41 and a 52 week high of $84.30. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 40.60, a P/E/G ratio of 4.23 and a beta of 0.53.

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

Ormat Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders 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 yield of 0.60%. The ex-dividend date is Wednesday, November 20th. Ormat Technologies’s dividend payout ratio is 24.49%.

Insider Buying and Selling at Ormat Technologies

In other news, Director David Granot sold 1,256 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $82.00, for a total transaction of $102,992.00. Following the completion of the transaction, the director now directly owns 3,576 shares in the company, valued at $293,232. The trade was a 25.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Byron G. Wong sold 1,266 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.98, for a total transaction of $94,924.68. Following the completion of the sale, the director now owns 6,906 shares in the company, valued at approximately $517,811.88. The trade was a 15.49 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.46% 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.