Mercer Global Advisors Inc. ADV Takes Position in Ormat Technologies, Inc. (NYSE:ORA)
Mercer Global Advisors Inc. ADV acquired a new stake in Ormat Technologies, Inc. (NYSE:ORA – Get Rating) during the 1st quarter, Holdings Channel reports. The firm acquired 3,452 shares of the energy company’s stock, valued at approximately $282,000.
Several other large investors have also made changes to their positions in the business. Advisor Group Holdings Inc. lifted its position in shares of Ormat Technologies by 2.6% in the first quarter. Advisor Group Holdings Inc. now owns 5,824 shares of the energy company’s stock valued at $522,000 after acquiring an additional 147 shares in the last quarter. Signaturefd LLC lifted its position in shares of Ormat Technologies by 77.6% in the first quarter. Signaturefd LLC now owns 451 shares of the energy company’s stock valued at $37,000 after acquiring an additional 197 shares in the last quarter. Prospera Financial Services Inc purchased a new position in shares of Ormat Technologies in the first quarter valued at about $41,000. Teacher Retirement System of Texas lifted its position in shares of Ormat Technologies by 6.5% in the first quarter. Teacher Retirement System of Texas now owns 9,213 shares of the energy company’s stock valued at $754,000 after acquiring an additional 563 shares in the last quarter. Finally, Green Alpha Advisors LLC lifted its position in shares of Ormat Technologies by 5.9% in the first quarter. Green Alpha Advisors LLC now owns 10,206 shares of the energy company’s stock valued at $835,000 after acquiring an additional 571 shares in the last quarter. 92.42% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Ormat Technologies news, Director David Granot sold 455 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $93.00, for a total transaction of $42,315.00. Following the sale, the director now directly owns 2,922 shares of the company’s stock, valued at $271,746. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Ormat Technologies news, Director David Granot sold 455 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $93.00, for a total transaction of $42,315.00. Following the completion of the transaction, the director now owns 2,922 shares in the company, valued at $271,746. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stanley Stern sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $96.85, for a total value of $726.375.00. Following the transaction, the director now owns 6,037 shares of the company’s stock, valued at approximately $584,683.45. The disclosure for this sale can be found here. Insiders have sold 17,457 shares of company stock valued at $1,546,524 over the last ninety days. 1.30% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on ORA. JPMorgan Chase & Co. lifted their target price on Ormat Technologies from $90.00 to $97.00 and gave the stock a “neutral” rating in a report on Monday, August 8th. Cowen lifted their target price on Ormat Technologies to $84.00 in a report on Tuesday, August 9th. Oppenheimer lifted their target price on Ormat Technologies from $85.00 to $97.00 and gave the stock an “outperform” rating in a report on Monday, August 8th. Finally, StockNews.com raised Ormat Technologies from a “sell” rating to a “hold” rating in a report on Thursday, August 4th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Ormat Technologies currently has an average rating of “Hold” and an average price target of $88.25.
Ormat Technologies Trading Up 0.3%
Shares of NYSE ORA opened at $93.76 on Friday. The business’s 50 day moving average is $85.69 and its two-hundred day moving average is $80.35. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.66 and a quick ratio of 1.57. Ormat Technologies, Inc. has a 1-year low of $60.32 and a 1-year high of $98.11. The stock has a market capitalization of $5.24 billion, a P/E ratio of 82.97, a PEG ratio of 6.74 and a beta of 0.51.
Ormat Technologies Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 16th. This represents a $0.48 annualized dividend and a yield of 0.51%. Ormat Technologies’s payout ratio is currently 42.48%.
Ormat Technologies Profile
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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.
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