Jefferies Financial Group Inc. Has $846,000 Position in Ormat Technologies, Inc. $ORA

Jefferies Financial Group Inc. lessened its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 99.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,786 shares of the energy company’s stock after selling 1,925,952 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Ormat Technologies were worth $846,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in shares of Ormat Technologies by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,866,543 shares of the energy company’s stock valued at $179,651,000 after acquiring an additional 22,748 shares in the last quarter. Geode Capital Management LLC boosted its position in Ormat Technologies by 3.4% during the second quarter. Geode Capital Management LLC now owns 1,467,156 shares of the energy company’s stock worth $122,902,000 after purchasing an additional 48,038 shares during the period. Canada Pension Plan Investment Board grew its holdings in Ormat Technologies by 62.6% during the second quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock valued at $89,928,000 after purchasing an additional 413,384 shares during the last quarter. Norges Bank acquired a new position in Ormat Technologies during the second quarter valued at approximately $56,458,000. Finally, Legal & General Group Plc raised its position in shares of Ormat Technologies by 1.5% in the second quarter. Legal & General Group Plc now owns 589,645 shares of the energy company’s stock valued at $49,389,000 after purchasing an additional 8,593 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

Insider Activity

In other news, insider Jessica Woelfel sold 2,359 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $105.16, for a total transaction of $248,072.44. Following the sale, the insider directly owned 3,433 shares in the company, valued at approximately $361,014.28. The trade was a 40.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Jefferies Financial Group downgraded shares of Ormat Technologies from a “buy” rating to a “hold” rating and upped their price objective for the stock from $125.00 to $130.00 in a report on Friday, February 13th. Barclays lifted their target price on shares of Ormat Technologies from $108.00 to $123.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. UBS Group cut their target price on shares of Ormat Technologies from $148.00 to $143.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Piper Sandler upped their price target on shares of Ormat Technologies from $102.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Finally, TD Cowen lowered their price target on Ormat Technologies from $131.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $129.09.

Ormat Technologies Stock Up 1.6%

Shares of ORA opened at $110.14 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.75 and a current ratio of 0.81. The company has a 50-day simple moving average of $117.76 and a 200-day simple moving average of $109.17. Ormat Technologies, Inc. has a 52 week low of $64.39 and a 52 week high of $132.58. The firm has a market capitalization of $6.70 billion, a P/E ratio of 54.79, a P/E/G ratio of 4.58 and a beta of 0.84.

Ormat Technologies (NYSE:ORA) last released its earnings results on Wednesday, February 25th. The energy company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. The business had revenue of $276.04 million for the quarter, compared to the consensus estimate of $257.75 million. Ormat Technologies had a return on equity of 5.21% and a net margin of 12.52%.The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period last year, the business earned $0.67 earnings per share. On average, 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 disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be issued 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 is Tuesday, March 10th. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.88%.

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.