Oddo BHF Asset Management Sas Makes New $638,000 Investment in Ormat Technologies, Inc. $ORA

Oddo BHF Asset Management Sas acquired a new stake in shares of Ormat Technologies, Inc. (NYSE:ORA) during the first quarter, HoldingsChannel.com reports. The firm acquired 5,700 shares of the energy company’s stock, valued at approximately $638,000.

Several other institutional investors have also modified their holdings of the stock. Signaturefd LLC boosted its holdings in shares of Ormat Technologies by 13.0% in the 4th quarter. Signaturefd LLC now owns 746 shares of the energy company’s stock worth $82,000 after purchasing an additional 86 shares during the period. Quadrant Capital Group LLC raised its holdings in Ormat Technologies by 9.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,153 shares of the energy company’s stock valued at $127,000 after buying an additional 99 shares during the period. State of Wyoming lifted its position in Ormat Technologies by 6.7% in the fourth quarter. State of Wyoming now owns 2,091 shares of the energy company’s stock worth $231,000 after buying an additional 131 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in 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 worth $239,000 after buying an additional 144 shares during the last quarter. Finally, Evexia Wealth LLC lifted its position in Ormat Technologies by 2.8% in the first quarter. Evexia Wealth LLC now owns 5,432 shares of the energy company’s stock worth $610,000 after buying an additional 149 shares during the last quarter. 95.49% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Michal Marom sold 3,080 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $130.97, for a total transaction of $403,387.60. Following the transaction, the director owned 1,766 shares of the company’s stock, valued at approximately $231,293.02. This represents a 63.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Byron G. Wong sold 4,500 shares of the stock in a transaction 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 transaction, the director directly owned 5,925 shares in the company, valued at $795,846. The trade was a 43.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 30,585 shares of company stock valued at $4,090,998. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ORA shares. JPMorgan Chase & Co. boosted their price objective 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. Barclays lifted their price target on shares of Ormat Technologies from $126.00 to $127.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Oppenheimer reissued an “outperform” rating and issued a $144.00 price objective on shares of Ormat Technologies in a research report on Friday, May 8th. Roth Capital reissued a “buy” rating and issued a $135.00 price objective on shares of Ormat Technologies in a research note on Monday, May 11th. Finally, Sanford C. Bernstein initiated coverage on Ormat Technologies in a research report on Tuesday, June 16th. They set an “underperform” rating and a $115.00 target price 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.75.

Ormat Technologies Stock Up 2.6%

Shares of ORA opened at $96.78 on Friday. The firm has a fifty day moving average price of $120.67 and a 200-day moving average price of $118.21. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $5.95 billion, a P/E ratio of 46.98, a P/E/G ratio of 4.02 and a beta of 0.88. Ormat Technologies, Inc. has a 12-month low of $84.13 and a 12-month high of $146.39.

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

Ormat Technologies Dividend Announcement

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 dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, May 20th. Ormat Technologies’s payout ratio is currently 23.30%.

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.