Altshuler Shaham Ltd Grows Stock Position in Ormat Technologies, Inc. $ORA

Altshuler Shaham Ltd lifted its stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 5,810.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 254,625 shares of the energy company's stock after buying an additional 250,317 shares during the quarter. Altshuler Shaham Ltd owned approximately 0.41% of Ormat Technologies worth $28,254,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ORA. Signaturefd LLC boosted its position in 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 in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of 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 purchasing an additional 99 shares in the last quarter. State of Wyoming increased its holdings in shares of Ormat Technologies by 6.7% during the 4th quarter. State of Wyoming now owns 2,091 shares of the energy company's stock valued at $231,000 after purchasing an additional 131 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Ormat Technologies by 7.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,167 shares of the energy company's stock valued at $239,000 after purchasing an additional 144 shares during the period. Finally, Evexia Wealth LLC lifted its stake in shares of Ormat Technologies by 2.8% in the 1st quarter. Evexia Wealth LLC now owns 5,432 shares of the energy company's stock valued at $610,000 after purchasing an additional 149 shares during the period. 95.49% of the stock is owned by institutional investors and hedge funds.

Ormat Technologies Price Performance

NYSE:ORA opened at $98.48 on Wednesday. Ormat Technologies, Inc. has a 12 month low of $84.13 and a 12 month high of $146.39. The stock has a 50 day moving average of $122.16 and a two-hundred day moving average of $118.48. 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 cap of $6.05 billion, a P/E ratio of 47.81, a price-to-earnings-growth ratio of 4.35 and a beta of 0.88.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its earnings results on Wednesday, May 6th. The energy company reported $1.30 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.38. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.97%.The business had revenue of $403.91 million during the quarter, compared to analysts' expectations of $349.17 million. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The business's revenue was up 75.8% compared to the same quarter last year. On average, analysts expect that Ormat Technologies, Inc. will post 2.35 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

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

Analysts Set New Price Targets

ORA has been the topic of several analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Ormat Technologies in a research report on Friday, July 17th. Barclays upped their price objective on shares of Ormat Technologies from $126.00 to $127.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. Piper Sandler raised their target price on Ormat Technologies from $125.00 to $142.00 and gave the company an "overweight" rating in a research report on Monday, May 18th. UBS Group lifted their price target on Ormat Technologies from $143.00 to $152.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Finally, Sanford C. Bernstein began coverage on Ormat Technologies in a report on Tuesday, June 16th. They issued an "underperform" rating and a $115.00 price target for the company. 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 company. According to MarketBeat, Ormat Technologies has an average rating of "Moderate Buy" and an average target price of $131.75.

Insiders Place Their Bets

In related news, CFO Assi Ginzburg sold 17,776 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $134.75, for a total transaction of $2,395,316.00. Following the transaction, the chief financial officer directly owned 1,970 shares in the company, valued at approximately $265,457.50. The trade was a 90.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michal Marom sold 3,080 shares of the company's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $130.97, for a total transaction of $403,387.60. Following the sale, the director directly owned 1,766 shares of the company's stock, valued at approximately $231,293.02. This represents a 63.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 30,585 shares of company stock valued at $4,090,998. Corporate insiders own 0.50% of the company's stock.

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.

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