Dudley & Shanley Inc. Increases Position in Ormat Technologies, Inc. (NYSE:ORA)

Dudley & Shanley Inc. lifted its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 300.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 36,400 shares of the energy company’s stock after purchasing an additional 27,300 shares during the quarter. Dudley & Shanley Inc.’s holdings in Ormat Technologies were worth $2,409,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Evexia Wealth LLC boosted its holdings in shares of Ormat Technologies by 2.7% during the 4th quarter. Evexia Wealth LLC now owns 6,096 shares of the energy company’s stock worth $462,000 after purchasing an additional 160 shares during the last quarter. Harrington Investments INC boosted its holdings in shares of Ormat Technologies by 3.2% during the 4th quarter. Harrington Investments INC now owns 6,510 shares of the energy company’s stock worth $493,000 after purchasing an additional 200 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Ormat Technologies by 5.1% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 5,014 shares of the energy company’s stock worth $380,000 after purchasing an additional 242 shares during the last quarter. TFO Wealth Partners LLC boosted its holdings in shares of Ormat Technologies by 9,066.7% during the 4th quarter. TFO Wealth Partners LLC now owns 275 shares of the energy company’s stock worth $227,000 after purchasing an additional 272 shares during the last quarter. Finally, State of Michigan Retirement System boosted its holdings in shares of Ormat Technologies by 2.3% during the 1st quarter. State of Michigan Retirement System now owns 13,200 shares of the energy company’s stock worth $874,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Insider Transactions at Ormat Technologies

In related news, Director David Granot sold 686 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $73.46, for a total transaction of $50,393.56. Following the sale, the director now owns 4,832 shares in the company, valued at $354,958.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. TD Cowen upped their price objective on Ormat Technologies from $70.00 to $76.00 and gave the company a “hold” rating in a report on Friday, May 10th. UBS Group upped their price objective on Ormat Technologies from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Oppenheimer upped their price objective on Ormat Technologies from $83.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Finally, Barclays dropped their target price on Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating on the stock in a report on Monday, May 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Ormat Technologies currently has an average rating of “Hold” and an average price target of $84.17.

Ormat Technologies Stock Performance

NYSE ORA traded up $1.15 during trading hours on Wednesday, hitting $70.43. 330,876 shares of the stock were exchanged, compared to its average volume of 484,989. Ormat Technologies, Inc. has a 12-month low of $58.73 and a 12-month high of $85.82. The company has a quick ratio of 1.02, a current ratio of 1.12 and a debt-to-equity ratio of 0.73. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 32.02, a price-to-earnings-growth ratio of 3.46 and a beta of 0.51. The stock has a 50-day moving average of $71.48 and a 200 day moving average of $68.79.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Wednesday, May 8th. The energy company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.03). Ormat Technologies had a return on equity of 5.45% and a net margin of 15.43%. The business had revenue of $224.17 million for the quarter, compared to analysts’ expectations of $224.38 million. As a group, equities research analysts forecast that Ormat Technologies, Inc. will post 2.08 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, May 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.68%. Ormat Technologies’s dividend payout ratio (DPR) is 21.62%.

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.