First Trust Advisors LP Has $22.71 Million Position in Ormat Technologies, Inc. $ORA

First Trust Advisors LP boosted its position in Ormat Technologies, Inc. (NYSE:ORA) by 5.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 202,944 shares of the energy company’s stock after purchasing an additional 11,281 shares during the quarter. First Trust Advisors LP’s holdings in Ormat Technologies were worth $22,713,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ORA. Signaturefd LLC increased its position in Ormat Technologies by 13.0% during the 4th quarter. Signaturefd LLC now owns 746 shares of the energy company’s stock worth $82,000 after buying an additional 86 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Ormat Technologies by 9.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,153 shares of the energy company’s stock valued at $127,000 after acquiring an additional 99 shares during the period. State of Wyoming boosted its position in shares of Ormat Technologies by 6.7% in the fourth quarter. State of Wyoming now owns 2,091 shares of the energy company’s stock valued at $231,000 after acquiring an additional 131 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Ormat Technologies by 7.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,167 shares of the energy company’s stock valued at $239,000 after acquiring an additional 144 shares in the last quarter. Finally, Evexia Wealth LLC grew its stake in shares of Ormat Technologies by 2.8% in the first quarter. Evexia Wealth LLC now owns 5,432 shares of the energy company’s stock valued at $610,000 after acquiring an additional 149 shares in the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ormat Technologies

In related news, Director Stanley Stern sold 250 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $138.42, for a total transaction of $34,605.00. Following the completion of the sale, the director directly owned 5,800 shares in the company, valued at $802,836. This represents a 4.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michal Marom sold 3,080 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $130.97, for a total value of $403,387.60. Following the completion of the sale, the director directly owned 1,766 shares in the company, valued at $231,293.02. This trade represents a 63.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 30,585 shares of company stock worth $4,090,998. 0.50% of the stock is owned by insiders.

Ormat Technologies Trading Down 4.3%

Shares of Ormat Technologies stock opened at $94.27 on Thursday. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 45.76, a PEG ratio of 4.20 and a beta of 0.88. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.87. Ormat Technologies, Inc. has a 12-month low of $84.13 and a 12-month high of $146.39. The firm’s 50-day moving average price is $121.41 and its two-hundred day moving average price is $118.35.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Wednesday, May 6th. The energy company reported $1.30 EPS for the quarter, beating the consensus estimate of $0.92 by $0.38. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The company had revenue of $403.91 million during the quarter, compared to analysts’ expectations of $349.17 million. During the same period in the previous year, the company earned $0.68 EPS. The business’s revenue for the quarter was up 75.8% compared to the same quarter last year. On average, analysts forecast that Ormat Technologies, Inc. will post 2.35 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, May 20th. This represents a $0.48 annualized dividend and a yield of 0.5%. Ormat Technologies’s dividend payout ratio is presently 23.30%.

Wall Street Analyst Weigh In

Several analysts have weighed in on ORA shares. Oppenheimer reiterated an “outperform” rating and issued a $144.00 price objective on shares of Ormat Technologies in a research note on Friday, May 8th. Wolfe Research started coverage on shares of Ormat Technologies in a research report on Monday, June 8th. They set a “peer perform” rating on the stock. Barclays raised their target price on shares of Ormat Technologies from $126.00 to $127.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. JPMorgan Chase & Co. lifted their price target 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. Finally, Sanford C. Bernstein started coverage on Ormat Technologies in a research note on Tuesday, June 16th. They issued an “underperform” rating and a $115.00 price target for the company. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.75.

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.