Vanguard Group Inc. Has $661.56 Million Position in Ormat Technologies, Inc. $ORA

Vanguard Group Inc. reduced its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,988,601 shares of the energy company’s stock after selling 44,181 shares during the period. Vanguard Group Inc. owned 0.10% of Ormat Technologies worth $661,557,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wolff Wiese Magana LLC bought a new position in shares of Ormat Technologies during the 4th quarter worth about $33,000. Jones Financial Companies Lllp increased its stake in Ormat Technologies by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock valued at $35,000 after buying an additional 113 shares during the last quarter. Ameriflex Group Inc. increased its stake in Ormat Technologies by 1,100.0% in the 3rd 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 last quarter. EverSource Wealth Advisors LLC increased its stake in Ormat Technologies by 251.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company’s stock valued at $44,000 after buying an additional 374 shares during the last quarter. Finally, USA Financial Formulas purchased a new stake in shares of Ormat Technologies during the 4th quarter worth approximately $51,000. Institutional investors own 95.49% of the company’s stock.

Insider Activity at Ormat Technologies

In other news, insider Jessica Woelfel sold 2,359 shares of the company’s stock in a transaction dated 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 transaction, the insider directly owned 3,433 shares of the company’s stock, valued at approximately $361,014.28. This represents a 40.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 3,364 shares of company stock worth $353,621 over the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Ormat Technologies Stock Performance

Ormat Technologies stock opened at $113.54 on Monday. 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 company has a market capitalization of $6.98 billion, a PE ratio of 56.49, a P/E/G ratio of 4.97 and a beta of 0.80. The firm has a fifty day simple moving average of $111.13 and a two-hundred day simple moving average of $113.30. Ormat Technologies, Inc. has a twelve month low of $70.42 and a twelve month high of $132.58.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Wednesday, February 25th. The energy company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. The business had revenue of $276.04 million during the quarter, compared to the consensus estimate of $257.75 million. Ormat Technologies had a net margin of 12.52% and a return on equity of 5.21%. The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.67 earnings per share. Research analysts expect that Ormat Technologies, Inc. will post 2.28 EPS for the current year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, March 10th. Ormat Technologies’s dividend payout ratio is 23.88%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ORA. UBS Group decreased their price target on shares of Ormat Technologies from $148.00 to $143.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. TD Cowen cut their price target on shares of Ormat Technologies from $131.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 27th. Royal Bank Of Canada began coverage on shares of Ormat Technologies in a report on Tuesday, March 3rd. They issued an “outperform” rating and a $130.00 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Ormat Technologies in a research report on Tuesday, April 21st. Finally, Oppenheimer upped their target price on shares of Ormat Technologies from $125.00 to $136.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $128.64.

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.