Abacus Wealth Partners LLC Takes Position in Ormat Technologies, Inc. $ORA

Abacus Wealth Partners LLC acquired a new position in shares of Ormat Technologies, Inc. (NYSE:ORA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,051 shares of the energy company’s stock, valued at approximately $1,442,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC lifted its holdings in Ormat Technologies by 13.0% in the fourth quarter. Signaturefd LLC now owns 746 shares of the energy company’s stock valued at $82,000 after acquiring an additional 86 shares during the period. Jones Financial Companies Lllp lifted its position in Ormat Technologies by 43.8% during the third quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock valued at $35,000 after purchasing an additional 113 shares in the last quarter. CWM LLC lifted its position in Ormat Technologies by 14.2% during the fourth quarter. CWM LLC now owns 1,254 shares of the energy company’s stock valued at $139,000 after purchasing an additional 156 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position 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 valued at $366,000 after purchasing an additional 158 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in Ormat Technologies by 4.7% during the third quarter. Mackenzie Financial Corp now owns 3,862 shares of the energy company’s stock valued at $372,000 after purchasing an additional 175 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Analysts Set New Price Targets

ORA has been the topic of several analyst reports. Robert W. Baird lowered their target price 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. Royal Bank Of Canada initiated coverage on Ormat Technologies in a research report on Tuesday, March 3rd. They set an “outperform” rating and a $130.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Ormat Technologies from $106.00 to $123.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Citigroup lifted their target price on Ormat Technologies from $110.00 to $128.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Finally, Roth Mkm reiterated a “buy” rating and set a $135.00 target price on shares of Ormat Technologies in a research report on Monday, May 11th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Ormat Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $131.64.

Insider Activity at Ormat Technologies

In related news, Director Stanley Stern sold 577 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $130.17, for a total transaction of $75,108.09. Following the completion of the transaction, the director directly owned 6,050 shares of the company’s stock, valued at approximately $787,528.50. This trade represents a 8.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jessica Woelfel sold 2,359 shares of the firm’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 transaction, the insider directly owned 3,433 shares of the company’s stock, valued at $361,014.28. The trade was a 40.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 27,100 shares of company stock valued at $3,536,599 in the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Ormat Technologies Trading Down 2.9%

Shares of Ormat Technologies stock opened at $131.52 on Friday. The company has a market capitalization of $8.08 billion, a P/E ratio of 63.84, a P/E/G ratio of 5.63 and a beta of 0.80. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.07. The company has a fifty day moving average of $113.73 and a 200 day moving average of $114.37. Ormat Technologies, Inc. has a fifty-two week low of $70.42 and a fifty-two week high of $138.51.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.38. The company had revenue of $403.91 million during the quarter, compared to the consensus estimate of $349.17 million. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. Ormat Technologies’s quarterly revenue was up 75.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 EPS. On average, sell-side analysts anticipate that Ormat Technologies, Inc. will post 2.33 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 20th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, May 20th. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.30%.

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.