Green Alpha Advisors LLC Raises Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

Green Alpha Advisors LLC boosted its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 7.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,299 shares of the energy company’s stock after buying an additional 476 shares during the period. Green Alpha Advisors LLC’s holdings in Ormat Technologies were worth $587,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ORA. Ruedi Wealth Management Inc. purchased a new position in shares of Ormat Technologies during the fourth quarter valued at about $28,000. Belpointe Asset Management LLC purchased a new position in shares of Ormat Technologies during the fourth quarter valued at about $36,000. Fifth Third Bancorp grew its position in shares of Ormat Technologies by 375.7% during the first quarter. Fifth Third Bancorp now owns 823 shares of the energy company’s stock valued at $70,000 after purchasing an additional 650 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Ormat Technologies by 43.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,008 shares of the energy company’s stock valued at $87,000 after purchasing an additional 303 shares in the last quarter. Finally, Toroso Investments LLC grew its position in shares of Ormat Technologies by 15.8% during the third quarter. Toroso Investments LLC now owns 1,065 shares of the energy company’s stock valued at $91,000 after purchasing an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 88.24% of the company’s stock.

Ormat Technologies Stock Performance

Ormat Technologies stock opened at $75.50 on Friday. The company has a market capitalization of $4.55 billion, a PE ratio of 48.71, a P/E/G ratio of 1.50 and a beta of 0.45. Ormat Technologies, Inc. has a fifty-two week low of $74.04 and a fifty-two week high of $101.81. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.69 and a current ratio of 1.79. The company has a 50 day moving average price of $78.45 and a 200-day moving average price of $82.38.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Wednesday, August 2nd. The energy company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $194.80 million during the quarter, compared to the consensus estimate of $196.74 million. Ormat Technologies had a net margin of 11.74% and a return on equity of 5.17%. Ormat Technologies’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 earnings per share. As a group, equities analysts forecast that Ormat Technologies, Inc. will post 2.14 earnings per share for the current year.

Ormat Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 30th. Investors of record on Wednesday, August 16th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Tuesday, August 15th. Ormat Technologies’s dividend payout ratio (DPR) is 30.97%.

Insider Buying and Selling

In related news, CEO Doron Blachar sold 11,315 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $75.58, for a total value of $855,187.70. Following the completion of the transaction, the chief executive officer now owns 17,934 shares of the company’s stock, valued at $1,355,451.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Ormat Technologies news, CEO Doron Blachar sold 11,315 shares of Ormat Technologies stock in a transaction on Friday, September 1st. The shares were sold at an average price of $75.58, for a total value of $855,187.70. Following the transaction, the chief executive officer now directly owns 17,934 shares of the company’s stock, valued at $1,355,451.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Isaac Angel sold 25,144 shares of Ormat Technologies stock in a transaction on Friday, September 1st. The stock was sold at an average price of $75.60, for a total transaction of $1,900,886.40. Following the completion of the transaction, the director now directly owns 41,933 shares in the company, valued at $3,170,134.80. The disclosure for this sale can be found here. Insiders sold 63,032 shares of company stock valued at $4,762,366 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ORA shares. TheStreet downgraded shares of Ormat Technologies from a “b-” rating to a “c+” rating in a research note on Wednesday, August 9th. Roth Capital raised shares of Ormat Technologies from a “neutral” rating to a “buy” rating in a research note on Monday, August 7th. Bank of America raised their price objective on shares of Ormat Technologies from $85.00 to $87.00 in a research note on Wednesday, June 14th. Barclays started coverage on shares of Ormat Technologies in a research note on Monday, May 22nd. They issued an “equal weight” rating and a $89.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of Ormat Technologies from $86.00 to $89.00 in a research note on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $92.29.

Ormat Technologies Company Profile

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guadeloupe, Guatemala, Ethiopia, New Zealand, Honduras, and internationally. It operates through three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.