Ormat Technologies, Inc. $ORA Position Lowered by ORIX Corp

ORIX Corp lowered its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 86.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 379,767 shares of the energy company’s stock after selling 2,372,968 shares during the quarter. Ormat Technologies comprises approximately 100.0% of ORIX Corp’s holdings, making the stock its largest holding. ORIX Corp owned approximately 0.62% of Ormat Technologies worth $36,553,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ameriflex Group Inc. raised its holdings in Ormat Technologies by 1,100.0% in the third quarter. Ameriflex Group Inc. now owns 360 shares of the energy company’s stock valued at $35,000 after buying an additional 330 shares during the period. Modern Wealth Management LLC purchased a new stake in Ormat Technologies during the third quarter worth approximately $244,000. Crossmark Global Holdings Inc. grew its stake in Ormat Technologies by 4.3% during the third quarter. Crossmark Global Holdings Inc. now owns 3,803 shares of the energy company’s stock worth $366,000 after buying an additional 158 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Ormat Technologies by 1.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,866,543 shares of the energy company’s stock worth $179,651,000 after acquiring an additional 22,748 shares in the last quarter. Finally, Roubaix Capital LLC raised its stake in shares of Ormat Technologies by 14.2% in the 3rd quarter. Roubaix Capital LLC now owns 62,055 shares of the energy company’s stock valued at $5,973,000 after acquiring an additional 7,700 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Trading Up 1.0%

NYSE:ORA opened at $108.89 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 0.79. The business’s 50 day moving average is $117.89 and its two-hundred day moving average is $108.71. Ormat Technologies, Inc. has a 52 week low of $64.39 and a 52 week high of $132.58. The company has a market cap of $6.63 billion, a PE ratio of 54.17, a P/E/G ratio of 4.56 and a beta of 0.84.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Wednesday, February 25th. The energy company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. Ormat Technologies had a return on equity of 5.21% and a net margin of 12.52%.The business had revenue of $276.04 million during the quarter, compared to the consensus estimate of $257.75 million. During the same period in the previous year, the business earned $0.67 EPS. The business’s quarterly revenue was up 19.6% on a year-over-year basis. On average, analysts predict that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, March 10th. Ormat Technologies’s payout ratio is currently 23.88%.

Insiders Place Their Bets

In other Ormat Technologies news, insider Jessica Woelfel sold 2,359 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $105.16, for a total transaction of $248,072.44. Following the completion of the sale, the insider owned 3,433 shares in the company, valued at $361,014.28. The trade was a 40.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ORA shares. Roth Mkm set a $139.00 price target on shares of Ormat Technologies in a research report on Wednesday, January 28th. Robert W. Baird cut their price objective on Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Oppenheimer increased their target price on Ormat Technologies from $125.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, January 27th. Royal Bank Of Canada began coverage on Ormat Technologies in a report on Tuesday. They set an “outperform” rating and a $130.00 target price on the stock. Finally, TD Cowen decreased their price target on Ormat Technologies from $131.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 27th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Ormat Technologies currently has an average rating of “Moderate Buy” and an average target price of $129.09.

Ormat Technologies Profile

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.