Mizuho Markets Americas LLC Boosts Stake in Ormat Technologies, Inc. $ORA

Mizuho Markets Americas LLC lifted its position in Ormat Technologies, Inc. (NYSE:ORA) by 7.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 175,322 shares of the energy company’s stock after acquiring an additional 12,720 shares during the period. Mizuho Markets Americas LLC owned 0.29% of Ormat Technologies worth $16,875,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Curio Wealth LLC grew its position in shares of Ormat Technologies by 29,200.0% in the 2nd quarter. Curio Wealth LLC now owns 293 shares of the energy company’s stock worth $25,000 after buying an additional 292 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Ormat Technologies by 251.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company’s stock worth $44,000 after purchasing an additional 374 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Ormat Technologies by 57.4% in the 2nd quarter. GAMMA Investing LLC now owns 886 shares of the energy company’s stock worth $74,000 after purchasing an additional 323 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Ormat Technologies by 20.3% in the 2nd quarter. UMB Bank n.a. now owns 1,059 shares of the energy company’s stock worth $89,000 after buying an additional 179 shares during the last quarter. Finally, CWM LLC increased its position in Ormat Technologies by 17.1% during the 3rd quarter. CWM LLC now owns 1,098 shares of the energy company’s stock valued at $106,000 after buying an additional 160 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, Director Isaac Angel sold 18,018 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $112.42, for a total transaction of $2,025,583.56. Following the completion of the sale, the director directly owned 29,650 shares in the company, valued at $3,333,253. The trade was a 37.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ravit Barniv sold 1,753 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $112.54, for a total transaction of $197,282.62. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 40,860 shares of company stock valued at $4,601,530. Company insiders own 0.56% of the company’s stock.

Ormat Technologies Stock Performance

Shares of ORA stock opened at $117.97 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.77 and a debt-to-equity ratio of 0.79. The company has a 50 day moving average price of $112.60 and a 200-day moving average price of $101.44. Ormat Technologies, Inc. has a 52 week low of $61.58 and a 52 week high of $124.11. The firm has a market capitalization of $7.17 billion, a PE ratio of 54.11, a P/E/G ratio of 4.71 and a beta of 0.71.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Monday, November 3rd. The energy company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Ormat Technologies had a net margin of 14.12% and a return on equity of 5.35%. The company had revenue of $249.73 million for the quarter, compared to the consensus estimate of $235.03 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, equities research analysts expect that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. Ormat Technologies’s dividend payout ratio is currently 22.02%.

Analysts Set New Price Targets

A number of research firms have recently commented on ORA. TD Cowen raised Ormat Technologies from a “hold” rating to a “buy” rating and increased their target price for the stock from $115.00 to $130.00 in a research note on Friday, January 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Ormat Technologies in a research report on Wednesday, October 8th. Barclays reduced their price objective on shares of Ormat Technologies from $118.00 to $108.00 and set an “overweight” rating for the company in a research note on Thursday. Roth Capital reiterated a “buy” rating on shares of Ormat Technologies in a research note on Tuesday, January 13th. Finally, Cowen upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Ormat Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $125.22.

About Ormat Technologies

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.