Harrington Investments INC Purchases 200 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Harrington Investments INC boosted its position in Ormat Technologies, Inc. (NYSE:ORA) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,510 shares of the energy company’s stock after acquiring an additional 200 shares during the period. Harrington Investments INC’s holdings in Ormat Technologies were worth $493,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. US Bancorp DE lifted its holdings in shares of Ormat Technologies by 10.5% in the 1st quarter. US Bancorp DE now owns 3,963 shares of the energy company’s stock worth $324,000 after purchasing an additional 375 shares in the last quarter. AlphaCrest Capital Management LLC acquired a new position in Ormat Technologies during the first quarter worth $360,000. Bank of Montreal Can lifted its stake in shares of Ormat Technologies by 2.5% in the first quarter. Bank of Montreal Can now owns 14,424 shares of the energy company’s stock valued at $1,150,000 after buying an additional 355 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Ormat Technologies by 57.7% during the first quarter. MetLife Investment Management LLC now owns 24,095 shares of the energy company’s stock valued at $1,972,000 after buying an additional 8,812 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Ormat Technologies by 0.5% during the first quarter. BlackRock Inc. now owns 4,650,385 shares of the energy company’s stock worth $380,541,000 after acquiring an additional 20,844 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Analysts Set New Price Targets

ORA has been the subject of a number of analyst reports. TD Cowen cut their price target on Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating for the company in a research note on Friday, February 23rd. Barclays dropped their target price on Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating on the stock in a report on Monday, February 5th. Finally, Oppenheimer decreased their price target on Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating for the company in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $82.00.

Ormat Technologies Stock Performance

Shares of ORA opened at $65.23 on Wednesday. The stock has a 50 day moving average of $65.63 and a 200 day moving average of $68.10. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 1.39 and a beta of 0.48. Ormat Technologies, Inc. has a 12 month low of $58.73 and a 12 month high of $88.64. The company has a current ratio of 1.20, a quick ratio of 1.12 and a debt-to-equity ratio of 0.64.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. The company had revenue of $241.30 million for the quarter, compared to the consensus estimate of $239.71 million. During the same period in the previous year, the firm earned $0.73 EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. As a group, sell-side analysts forecast that Ormat Technologies, Inc. will post 2.3 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.74%. Ormat Technologies’s dividend payout ratio (DPR) is presently 22.97%.

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.