AEGON ASSET MANAGEMENT UK Plc Boosts Holdings in Ormat Technologies, Inc. $ORA

Key Points

• AEGON ASSET MANAGEMENT UK Plc boosted its stake in Ormat Technologies by 102.6% in Q4 to 294,748 shares, worth about $32.55 million and representing 0.48% of the company.
• Analysts hold a consensus rating of Moderate Buy with a consensus target of $128.64; recent analyst moves include RBC initiating at "outperform" ($130) and Barclays raising its target to $123.
• Ormat's latest quarter showed EPS in line at $0.67 and revenue of $276.0 million (up 19.6% YoY), and the company pays a quarterly dividend of $0.12 (annualized $0.48, yield ~0.4%).

AEGON ASSET MANAGEMENT UK Plc boosted its position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 102.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 294,748 shares of the energy company's stock after acquiring an additional 149,271 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned 0.48% of Ormat Technologies worth $32,549,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ORA. Wolff Wiese Magana LLC purchased a new stake in Ormat Technologies during the fourth quarter valued at approximately $33,000. Jones Financial Companies Lllp raised its holdings in shares of Ormat Technologies by 43.8% in the third quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company's stock worth $35,000 after buying an additional 113 shares during the last quarter. Ameriflex Group Inc. raised its holdings in shares of Ormat Technologies by 1,100.0% in the third quarter. Ameriflex Group Inc. now owns 360 shares of the energy company's stock worth $35,000 after buying an additional 330 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Ormat Technologies by 251.0% in the second quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company's stock worth $44,000 after buying an additional 374 shares during the last quarter. Finally, USA Financial Formulas purchased a new position in shares of Ormat Technologies in the fourth quarter worth $51,000. Hedge funds and other institutional investors own 95.49% of the company's stock.

Insider Activity

In other news, insider Jessica Woelfel sold 2,359 shares of Ormat Technologies stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $105.16, for a total value of $248,072.44. Following the sale, the insider owned 3,433 shares in the company, valued at $361,014.28. This trade represents a 40.73% 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. Insiders have sold a total of 3,364 shares of company stock valued at $353,621 in the last quarter. 0.56% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Royal Bank Of Canada assumed coverage on shares of Ormat Technologies in a report on Tuesday, March 3rd. They issued an "outperform" rating and a $130.00 price target for the company. Citigroup raised their price target on shares of Ormat Technologies from $110.00 to $128.00 and gave the stock a "neutral" rating in a report on Wednesday, February 18th. Robert W. Baird decreased their price target on shares of Ormat Technologies from $143.00 to $130.00 and set an "outperform" rating for the company in a report on Friday, February 27th. Jefferies Financial Group cut shares of Ormat Technologies from a "buy" rating to a "hold" rating and raised their target price for the stock from $125.00 to $130.00 in a report on Friday, February 13th. Finally, Barclays raised 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. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $128.64.

Ormat Technologies Stock Down 0.2%

ORA stock opened at $113.41 on Friday. The firm has a market cap of $6.97 billion, a PE ratio of 56.42, a P/E/G ratio of 4.98 and a beta of 0.80. 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 firm's fifty day moving average is $111.74 and its 200 day moving average is $113.07. Ormat Technologies, Inc. has a one year low of $70.42 and a one year high of $132.58.

Ormat Technologies (NYSE:ORA - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The energy company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. The company had revenue of $276.04 million for the quarter, compared to analyst estimates of $257.75 million. Ormat Technologies had a net margin of 12.52% and a return on equity of 5.21%. The firm's revenue was up 19.6% on a year-over-year basis. During the same quarter last year, the business earned $0.67 earnings per share. On average, research analysts forecast that Ormat Technologies, Inc. will post 2.28 EPS for the current year.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th were given a $0.12 dividend. The ex-dividend date was Tuesday, March 10th. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. Ormat Technologies's dividend payout ratio (DPR) is 23.88%.

Ormat Technologies 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.

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