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Securian Asset Management Inc. Takes Over a New Position in Ormat Technologies, Inc. (NYSE:ORA)

Securian Asset Management Inc. Takes Over a New Position in Ormat Technologies, Inc. (NYSE:ORA)

According to the most recent filing that Securian Asset Management Inc. made with the Securities and Exchange Commission, the company made a new investment in Ormat Technologies, Inc. (NYSE: ORA) during the third quarter. The investment fund spent approximately 352,000 dollars to purchase 4,086 shares in the energy company.

Recently, several other hedge funds rebalanced the proportion of their holdings allocated to the stock. During the first three months of 2018, BlackRock Inc. increased the percentage of Ormat Technologies stock owned by 0.5 percent. BlackRock Inc. now owns 4,650,385 shares of the energy company’s stock, which are now valued at $380,541,000 after purchasing an additional 20,844 shares during the period in question. In addition, global Alpha Capital Management Ltd. increased the amount of Ormat Technologies stock owned by 3.2% during the second quarter. Global Alpha Capital Management Ltd. now has a total of 2,174,087 shares of the energy company’s stock, which are currently valued at $166,478,000, after making a new purchase of 68,013 shares during the period in question. This brings the company’s total number of shares to 2,174,087. During the second quarter, State Street Corporation achieved a 1.4% increase in the proportion of Ormat Technologies stock it owned. State Street Corp. now owns 1,173,099 shares of the energy company’s stock, currently valued at $91,912,000, after purchasing an additional 16,125 shares during the period in question. This brings the total number of shares owned by State Street Corp. to 1,173,125. During the second quarter of this year, Amundi increased the percentage of Ormat Technologies stock owned by 23.6%. Amundi now owns 1,120,993 shares of the energy company’s stock, with an estimated value of $87,890,000. This is because Amundi purchased an additional 214,353 shares of the company’s stock during the relevant time period. Lastly, but most certainly not least, during the second quarter, Millennium Management LLC increased the number of shares of Ormat Technologies that it owned by a factor of 2,082.9%. Millennium Management LLC now has 779,242 shares of the energy company’s stock, which is currently valued at $61,054,000 after purchasing an additional 743,545 shares during the most recent period. At present, institutional investors own 81.74 percent of the equity in the company.

Ormat Technologies, Inc., the company that holds the most shares of stock, sold 562,500 of those shares on Friday, November 25. Corp Orix is the company’s largest shareholder. The purchase of the shares resulted in a total payment of $49,359,375, with an average price of $87.75 for each share. This brings the total amount paid for all shares to $49,359,375. Because of the transaction, the company insider now owns 6,676,077 shares, with a total value of $585,825,756.75. If you go to the website of the SEC, you should be able to find a legal file there that details the transaction in greater detail. According to reports from other news outlets, on November 4, 2018, the company’s president, Shlomi Argas, sold 12,106 shares of company stock. The sale of the shares resulted in total revenue of $1,189,414.50, with a price of $98.25 being the average amount received for each share. After the completion of the transaction, the president now owns 6,369 shares of the company, which have a value of $625,754.25, making the total amount of his wealth $625,754.25. Follow the link, which will take you to a filing submitted to the Securities and Exchange Commission. You will have the opportunity to acquire additional information regarding the transaction. Furthermore, Corp Orix, a significant shareholder, sold 562,500 shares of the company’s stock on Friday, November 25. Orix is a major investor in the company. The purchase of the shares resulted in a total payment of $49,359,375, with an average price of $87.75 for each share. This brings the total amount paid for all shares to $49,359,375. The insider now directly owns 6,676,077 company shares, which have a combined value of $585,825,756.75 as a direct consequence of the transaction. The disclosure about the purchase can be found in this particular location. Corporate insiders sold 4,331,557 shares during the preceding quarter, resulting in a total sale price of $380,304,372. 1.30 company insiders own a percent of the total shares currently outstanding.

Shares of NYSE: ORA began trading for $90.27 per share on Friday. The moving average price of the share of the stock calculated over the past 200 days is $88.74, while the moving average price calculated over the last 50 days is $90.29. Over the past 52 weeks, Ormat Technologies, Inc.’s share price has moved in a range that has spanned from a low of $60.32 to a high of $101.81 at various points. The current price-to-earnings ratio for the company is 75.86, and its market capitalization is currently valued at $5.06 billion. The PEG ratio is 4.43, and the beta value comes in at 0.49. There is a current ratio of 1.28, a quick ratio of 1.20, and a debt-to-equity ratio of 0.80. The quick ratio is 1.20, and the debt-to-equity ratio is 0.80.

Ormat Technologies (NYSE: ORA) updated its most recent quarterly financial report on Wednesday, November 2, and announced the report’s results. The oil company reported $0.33 per share earnings for the quarter, which was $0.08 more than the average forecast of $0.25 per share. The company produced the earnings. During the period covered by the report, Ormat Technologies had a return on equity of 3.69 percent while also maintaining a net margin of 9.27 percent. Market analysts projected that the company would bring in between $173.11 million and $175.89 million in revenue during the quarter. This range of revenue was anticipated for the company. In 2018, sell-side analysts anticipated that Ormat Technologies, Inc. would generate earnings of $1.35 per share, which is in line with the consensus forecast for the company.

In addition, the company recently announced and paid out a quarterly dividend, which was done on the 30th of this month. The dividend was distributed. On November 16, a dividend payment of $0.12 was made to shareholders on record when the dividend was declared. The dividend was paid to shareholders on November 15, a Tuesday that month. This equates to a dividend payment of $0.48 annually and a yield of 0.53%. The numbers are presented here in annualized form. It has been determined that Ormat Technologies has a payout percentage of 40.34 percent.

Over the past few weeks, ORA has been the subject of numerous analyst reports. Citigroup published a research note on Ormat Technologies on Thursday, October 20, announcing that it would begin covering the company. They assigned the business the rating of “neutral” and determined that the price objective should be $90.00. Bank of America started reporting on Ormat Technologies for the first time on November 22, marking the beginning of this practice. They assigned a ” neutral ” rating to the stock for their investment portfolio. In a report made public on November 6, Roth Capital reaffirmed the “neutral” rating they had previously given to Ormat Technologies. JPMorgan Chase & Co. lowered their price objective on Ormat Technologies from $97.00 to $80.00 and assigned the stock a “neutral” rating in a research note published on October 20. Ormat Technologies’ rating was changed from “sell” to “hold” by StockNews.com in a report published on November 16, indicating the website’s bullish outlook on the company’s future performance. Five analysts have assigned a recommendation to shareholders to hold their current positions, while one has assigned a recommendation to buy the stock. According to Bloomberg, the average recommendation for the company is “Hold,” and the consensus regarding the price target for the stock is $87.00.

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