Millennium Management LLC raised its holdings in Ormat Technologies, Inc. (NYSE:ORA – Get Rating) by 2,082.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 779,242 shares of the energy company’s stock after acquiring an additional 743,545 shares during the period. Millennium Management LLC owned approximately 1.39% of Ormat Technologies worth $61,054,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Total Clarity Wealth Management Inc. acquired a new stake in Ormat Technologies in the 2nd quarter valued at about $27,000. Prospera Financial Services Inc acquired a new stake in shares of Ormat Technologies during the 1st quarter worth approximately $41,000. FMR LLC increased its holdings in shares of Ormat Technologies by 13.0% during the 2nd quarter. FMR LLC now owns 1,465 shares of the energy company’s stock worth $115,000 after buying an additional 169 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Ormat Technologies during the 1st quarter worth approximately $177,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Ormat Technologies during the 1st quarter worth approximately $214,000. Institutional investors and hedge funds own 92.42% of the company’s stock.
Insider Transactions at Ormat Technologies
In other news, major shareholder Corp Orix sold 3,750,000 shares of Ormat Technologies stock in a transaction on Monday, November 21st. The shares were sold at an average price of $87.75, for a total transaction of $329,062,500.00. Following the completion of the sale, the insider now directly owns 7,238,577 shares of the company’s stock, valued at approximately $635,185,131.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, major shareholder Corp Orix sold 3,750,000 shares of Ormat Technologies stock in a transaction on Monday, November 21st. The shares were sold at an average price of $87.75, for a total transaction of $329,062,500.00. Following the sale, the insider now directly owns 7,238,577 shares in the company, valued at approximately $635,185,131.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dafna Sharir sold 1,588 shares of Ormat Technologies stock in a transaction on Friday, November 4th. The stock was sold at an average price of $98.00, for a total transaction of $155,624.00. Following the sale, the director now owns 2,489 shares in the company, valued at $243,922. The disclosure for this sale can be found here. In the last three months, insiders sold 4,331,557 shares of company stock valued at $380,304,372. Insiders own 1.30% of the company’s stock.
Ormat Technologies Stock Performance
Shares of ORA stock opened at $89.49 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.28 and a debt-to-equity ratio of 0.80. Ormat Technologies, Inc. has a 52 week low of $60.32 and a 52 week high of $101.81. The stock has a market capitalization of $5.02 billion, a PE ratio of 75.20, a P/E/G ratio of 6.04 and a beta of 0.49. The firm has a 50 day moving average of $90.29 and a two-hundred day moving average of $87.26.
Ormat Technologies Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, November 15th. This represents a $0.48 annualized dividend and a dividend yield of 0.54%. Ormat Technologies’s dividend payout ratio (DPR) is currently 40.34%.
Analyst Ratings Changes
ORA has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Ormat Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, November 16th. Roth Capital reiterated a “neutral” rating on shares of Ormat Technologies in a report on Sunday, November 6th. JPMorgan Chase & Co. dropped their target price on shares of Ormat Technologies from $97.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, October 20th. Bank of America started coverage on shares of Ormat Technologies in a report on Tuesday, November 22nd. They issued a “neutral” rating for the company. Finally, Citigroup started coverage on shares of Ormat Technologies in a research report on Thursday, October 20th. They issued a “neutral” rating and a $91.00 price target for the company. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $87.00.
About Ormat Technologies
Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guadeloupe, Guatemala, Ethiopia, New Zealand, Honduras, and internationally. It operates through 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.
Featured Stories
Receive News & Ratings for Ormat Technologies Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Ormat Technologies and related companies with MarketBeat.com’s FREE daily email newsletter.
ABMN Staff
Source link
