Hsbc Holdings PLC Decreases Stock Holdings in Ormat Technologies, Inc. $ORA

Hsbc Holdings PLC lowered its stake in Ormat Technologies, Inc. (NYSE:ORA) by 77.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 10,551 shares of the energy company’s stock after selling 36,212 shares during the quarter. Hsbc Holdings PLC’s holdings in Ormat Technologies were worth $1,181,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ORA. AQR Capital Management LLC lifted its holdings in Ormat Technologies by 324.1% during the first quarter. AQR Capital Management LLC now owns 24,918 shares of the energy company’s stock valued at $1,740,000 after purchasing an additional 19,043 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Ormat Technologies during the first quarter worth about $243,000. Empowered Funds LLC raised its position in shares of Ormat Technologies by 7.3% during the 1st quarter. Empowered Funds LLC now owns 4,201 shares of the energy company’s stock worth $297,000 after purchasing an additional 286 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Ormat Technologies by 22.8% during 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 purchasing an additional 43,483 shares during the last quarter. Finally, Intech Investment Management LLC raised its position in shares of Ormat Technologies by 10.5% during the 1st quarter. Intech Investment Management LLC now owns 24,592 shares of the energy company’s stock worth $1,740,000 after purchasing an additional 2,329 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Stock Down 3.6%

ORA stock opened at $98.48 on Wednesday. Ormat Technologies, Inc. has a one year low of $84.13 and a one year high of $146.39. The firm has a market cap of $6.05 billion, a PE ratio of 47.81, a PEG ratio of 4.35 and a beta of 0.88. The firm’s 50 day moving average price is $122.16 and its 200-day moving average price is $118.48. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.07.

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

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 20th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, May 20th. Ormat Technologies’s payout ratio is 23.30%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Roth Capital reaffirmed a “buy” rating and issued a $135.00 price target on shares of Ormat Technologies in a research note on Monday, May 11th. Wolfe Research initiated coverage on Ormat Technologies in a research note on Monday, June 8th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. increased their target price on Ormat Technologies from $106.00 to $123.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Weiss Ratings restated a “hold (c)” rating on shares of Ormat Technologies in a research report on Friday, July 17th. Finally, UBS Group lifted their price target on Ormat Technologies from $143.00 to $152.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Eight 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 stock. According to MarketBeat.com, Ormat Technologies has an average rating of “Moderate Buy” and a consensus target price of $131.75.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, Director Byron G. Wong sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $134.32, for a total value of $604,440.00. Following the sale, the director owned 5,925 shares of the company’s stock, valued at $795,846. The trade was a 43.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michal Marom sold 3,080 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $130.97, for a total value of $403,387.60. Following the transaction, the director 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 sold 30,585 shares of company stock worth $4,090,998. 0.50% of the stock is owned by company insiders.

About Ormat Technologies

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.