Chesapeake Capital Corp IL Makes New Investment in Ormat Technologies, Inc. (NYSE:ORA)

Chesapeake Capital Corp IL acquired a new position in Ormat Technologies, Inc. (NYSE:ORA) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,739 shares of the energy company’s stock, valued at approximately $522,000.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Ormat Technologies by 1.2% in the first quarter. Vanguard Group Inc. now owns 5,388,571 shares of the energy company’s stock worth $356,670,000 after acquiring an additional 63,943 shares during the period. Dimensional Fund Advisors LP raised its position in shares of 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 worth $104,030,000 after acquiring an additional 86,291 shares during the period. Van Berkom & Associates Inc. raised its position in shares of Ormat Technologies by 2.0% in the second quarter. Van Berkom & Associates Inc. now owns 1,322,936 shares of the energy company’s stock worth $94,855,000 after acquiring an additional 25,799 shares during the period. Bank of New York Mellon Corp raised its position in shares of Ormat Technologies by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 560,029 shares of the energy company’s stock worth $40,154,000 after acquiring an additional 15,004 shares during the period. Finally, Y.D. More Investments Ltd raised its position in shares of Ormat Technologies by 1,011.5% in the second quarter. Y.D. More Investments Ltd now owns 493,619 shares of the energy company’s stock worth $34,943,000 after acquiring an additional 449,209 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.98, for a total value 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. This represents a 15.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dafna Sharir sold 433 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total transaction of $32,436.03. Following the completion of the sale, the director now directly owns 3,561 shares of the company’s stock, valued at approximately $266,754.51. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Ormat Technologies Stock Down 0.6 %

ORA opened at $79.01 on Friday. Ormat Technologies, Inc. has a twelve month low of $59.41 and a twelve month high of $84.30. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average price of $77.65 and a 200 day moving average price of $74.71. The company has a market cap of $4.78 billion, a PE ratio of 40.31, a price-to-earnings-growth ratio of 4.09 and a beta of 0.53.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. The company had revenue of $211.80 million during the quarter, compared to the consensus estimate of $215.53 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. Ormat Technologies’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 EPS. Sell-side analysts expect that Ormat Technologies, Inc. will post 1.93 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.61%. Ormat Technologies’s payout ratio is 24.49%.

Wall Street Analysts Forecast Growth

ORA has been the subject of several research analyst reports. Oppenheimer upped their price target on shares of Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Roth Mkm restated a “buy” rating and set a $92.00 price target (up previously 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 given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.50.

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.