Wells Fargo & Company MN Purchases 1,311 Shares of Ormat Technologies, Inc. (ORA)

Wells Fargo & Company MN raised its position in Ormat Technologies, Inc. (NYSE:ORA) by 2.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,654 shares of the energy company’s stock after acquiring an additional 1,311 shares during the quarter. Wells Fargo & Company MN owned approximately 0.09% of Ormat Technologies worth $2,848,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada lifted its stake in Ormat Technologies by 1.7% in the second quarter. Royal Bank of Canada now owns 2,008 shares of the energy company’s stock worth $117,000 after acquiring an additional 34 shares during the last quarter. Advisor Group Inc. lifted its stake in Ormat Technologies by 153.2% in the second quarter. Advisor Group Inc. now owns 2,302 shares of the energy company’s stock worth $135,000 after acquiring an additional 1,393 shares during the last quarter. Psagot Investment House Ltd. lifted its stake in Ormat Technologies by 1.6% in the second quarter. Psagot Investment House Ltd. now owns 2,661 shares of the energy company’s stock worth $156,000 after acquiring an additional 43 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Ormat Technologies by 17.7% in the second quarter. Victory Capital Management Inc. now owns 3,964 shares of the energy company’s stock worth $233,000 after acquiring an additional 595 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in Ormat Technologies by 42.3% in the third quarter. Great West Life Assurance Co. Can now owns 4,665 shares of the energy company’s stock worth $295,000 after acquiring an additional 1,386 shares during the last quarter. Institutional investors own 46.34% of the company’s stock.

A number of research analysts recently issued reports on ORA shares. TheStreet upgraded shares of Ormat Technologies from a “c+” rating to a “b-” rating in a research note on Monday, November 13th. Roth Capital set a $70.00 price target on shares of Ormat Technologies and gave the stock a “buy” rating in a research note on Monday, November 13th. Zacks Investment Research upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research note on Thursday, October 5th. Oppenheimer reissued a “buy” rating and set a $70.00 price objective (up previously from $65.00) on shares of Ormat Technologies in a report on Wednesday, September 27th. Finally, Guggenheim began coverage on shares of Ormat Technologies in a report on Monday, January 8th. They set a “buy” rating and a $72.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $68.71.

Shares of Ormat Technologies, Inc. (NYSE:ORA) opened at $66.07 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.65. Ormat Technologies, Inc. has a 1-year low of $52.19 and a 1-year high of $66.46. The firm has a market cap of $3,340.00, a P/E ratio of 28.36, a price-to-earnings-growth ratio of 1.94 and a beta of 1.23.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Tuesday, November 7th. The energy company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.06). Ormat Technologies had a return on equity of 9.41% and a net margin of 16.99%. The company had revenue of $157.20 million for the quarter, compared to analyst estimates of $159.02 million. During the same period in the previous year, the business posted $0.56 EPS. The firm’s revenue for the quarter was down 14.8% compared to the same quarter last year. sell-side analysts expect that Ormat Technologies, Inc. will post 2.21 EPS for the current year.

TRADEMARK VIOLATION WARNING: This piece was originally reported by Registrar Journal and is owned by of Registrar Journal. If you are accessing this piece on another site, it was illegally stolen and republished in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://registrarjournal.com/2018/01/13/wells-fargo-company-mn-purchases-1311-shares-of-ormat-technologies-inc-ora.html.

Ormat Technologies Company Profile

Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.

Want to see what other hedge funds are holding ORA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ormat Technologies, Inc. (NYSE:ORA).

Institutional Ownership by Quarter for Ormat Technologies (NYSE:ORA)

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.

Leave a Reply