Hsbc Holdings PLC Makes New $1.97 Million Investment in Ormat Technologies, Inc. $ORA

Hsbc Holdings PLC acquired a new position in shares of Ormat Technologies, Inc. (NYSE:ORA) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 18,082 shares of the energy company’s stock, valued at approximately $1,969,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC increased its position in Ormat Technologies by 324.1% in the first quarter. AQR Capital Management LLC now owns 24,918 shares of the energy company’s stock worth $1,740,000 after purchasing an additional 19,043 shares during the last quarter. United Services Automobile Association bought a new position in Ormat Technologies during the first quarter valued at $243,000. Empowered Funds LLC lifted its position in Ormat Technologies by 7.3% during the first quarter. Empowered Funds LLC now owns 4,201 shares of the energy company’s stock valued at $297,000 after purchasing an additional 286 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Ormat Technologies by 22.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 234,467 shares of the energy company’s stock worth $16,593,000 after buying an additional 43,483 shares in the last quarter. Finally, Intech Investment Management LLC grew its stake in shares of Ormat Technologies by 10.5% in the 1st quarter. Intech Investment Management LLC now owns 24,592 shares of the energy company’s stock worth $1,740,000 after buying an additional 2,329 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors.

Ormat Technologies Price Performance

ORA stock opened at $103.11 on Monday. The stock has a market cap of $6.34 billion, a PE ratio of 50.79, a P/E/G ratio of 4.17 and a beta of 0.90. Ormat Technologies, Inc. has a 12 month low of $89.08 and a 12 month high of $146.39. The company has a 50-day moving average price of $108.28 and a 200 day moving average price of $115.91. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.87.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.24. Ormat Technologies had a net margin of 10.66% and a return on equity of 6.61%. The business had revenue of $258.76 million during the quarter, compared to the consensus estimate of $240.03 million. During the same quarter last year, the firm earned $0.48 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities research analysts anticipate that Ormat Technologies, Inc. will post 2.47 earnings per share for the current year.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Ormat Technologies’s dividend payout ratio (DPR) is currently 23.65%.

Wall Street Analysts Forecast Growth

ORA has been the topic of several recent research reports. JPMorgan Chase & Co. upped their target price on shares of Ormat Technologies from $106.00 to $123.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Piper Sandler boosted their price objective on Ormat Technologies from $125.00 to $142.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Wall Street Zen downgraded Ormat Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Barclays lowered their price objective on Ormat Technologies from $127.00 to $122.00 and set an “overweight” rating for the company in a research note on Monday, August 10th. Finally, Sanford C. Bernstein reiterated an “underperform” rating and issued a $112.00 target price on shares of Ormat Technologies in a report on Monday, August 10th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Ormat Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.83.

Ormat Technologies Company 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.