Ormat Technologies, Inc. $ORA Stake Boosted by Mizuho Markets Americas LLC

Mizuho Markets Americas LLC boosted its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 6.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,266 shares of the energy company’s stock after purchasing an additional 8,785 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Ormat Technologies were worth $16,706,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of Ormat Technologies during the fourth quarter worth $26,000. Main Street Group LTD acquired a new position in shares of Ormat Technologies in the 1st quarter valued at about $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Ormat Technologies in the 4th quarter valued at about $31,000. Smartleaf Asset Management LLC grew its position in shares of Ormat Technologies by 245.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company’s stock valued at $33,000 after buying an additional 211 shares during the last quarter. Finally, Wolff Wiese Magana LLC bought a new stake in shares of Ormat Technologies during the 4th quarter valued at about $33,000. Institutional investors own 95.49% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ORA shares. Barclays increased their price objective 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. Wolfe Research began coverage on Ormat Technologies in a report on Monday, June 8th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. increased their price target on Ormat Technologies from $106.00 to $123.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Piper Sandler raised their price target on Ormat Technologies from $125.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Finally, Sanford C. Bernstein initiated coverage on Ormat Technologies in a report on Tuesday, June 16th. They issued an “underperform” rating and a $115.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.75.

Ormat Technologies Stock Up 0.1%

ORA stock opened at $103.85 on Friday. The stock has a market cap of $6.38 billion, a PE ratio of 50.41, a price-to-earnings-growth ratio of 4.42 and a beta of 0.88. The firm’s 50-day simple moving average is $123.99 and its 200 day simple moving average is $118.82. Ormat Technologies, Inc. has a fifty-two week low of $84.13 and a fifty-two week high of $146.39. 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 (NYSE:ORA) last posted its earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.38. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The firm had revenue of $403.91 million during the quarter, compared to analyst estimates of $349.17 million. During the same period in the previous year, the business posted $0.68 EPS. Ormat Technologies’s revenue was up 75.8% on a year-over-year basis. As a group, sell-side analysts predict that Ormat Technologies, Inc. will post 2.35 EPS for the current year.

Ormat Technologies Announces Dividend

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

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director Michal Marom sold 3,080 shares of Ormat Technologies 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 sale, the director owned 1,766 shares of the company’s stock, valued at $231,293.02. The trade was a 63.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Byron G. Wong sold 4,500 shares of Ormat Technologies stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $134.32, for a total value of $604,440.00. Following the sale, the director directly owned 5,925 shares in the company, valued at $795,846. The trade was a 43.17% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 30,585 shares of company stock valued at $4,090,998. 0.50% of the stock is currently owned by 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.