Banque Cantonale Vaudoise Takes $1.41 Million Position in Ormat Technologies, Inc. (NYSE:ORA)

Key Points

• Banque Cantonale Vaudoise invested approximately $1.41 million in Ormat Technologies, acquiring 19,917 shares in the first quarter of the year, as detailed in their SEC filing.
• A significant percentage of Ormat Technologies' stock, about 95.49%, is owned by institutional investors and hedge funds, indicating strong institutional confidence in the company.
• Ormat Technologies saw a year-over-year revenue increase of 2.5%, reporting earnings of $0.68 per share in its recent quarterly results, surpassing analysts’ expectations.

Banque Cantonale Vaudoise purchased a new stake in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 19,917 shares of the energy company's stock, valued at approximately $1,410,000.

A number of other institutional investors have also made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in shares of Ormat Technologies in the fourth quarter valued at approximately $204,000. Thrivent Financial for Lutherans grew its holdings in shares of Ormat Technologies by 6.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 13,617 shares of the energy company's stock valued at $922,000 after purchasing an additional 878 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Ormat Technologies by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company's stock valued at $409,305,000 after purchasing an additional 274,540 shares in the last quarter. Norges Bank acquired a new position in shares of Ormat Technologies in the fourth quarter valued at approximately $62,851,000. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Ormat Technologies by 128.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 18,725 shares of the energy company's stock valued at $1,268,000 after purchasing an additional 10,535 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ormat Technologies

In related news, Director David Granot sold 950 shares of Ormat Technologies stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $73.10, for a total value of $69,445.00. Following the transaction, the director owned 2,713 shares of the company's stock, valued at approximately $198,320.30. This trade represents a 25.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Byron G. Wong sold 460 shares of Ormat Technologies stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $84.04, for a total value of $38,658.40. Following the completion of the transaction, the director directly owned 8,659 shares in the company, valued at $727,702.36. This represents a 5.04% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,329 shares of company stock valued at $423,443. 0.56% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ORA has been the topic of a number of recent research reports. Robert W. Baird raised shares of Ormat Technologies from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $87.00 to $103.00 in a report on Wednesday. UBS Group boosted their price objective on shares of Ormat Technologies from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Baird R W raised shares of Ormat Technologies from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Ormat Technologies from $75.00 to $85.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Barclays upped their price target on shares of Ormat Technologies from $86.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $91.25.

Ormat Technologies Stock Down 0.8%

Shares of Ormat Technologies stock traded down $0.70 on Friday, hitting $88.71. 442,446 shares of the company's stock traded hands, compared to its average volume of 448,687. The stock has a market cap of $5.38 billion, a P/E ratio of 43.06, a PEG ratio of 4.28 and a beta of 0.68. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.77. The firm's 50-day moving average is $83.53 and its 200 day moving average is $74.30. Ormat Technologies, Inc. has a 52-week low of $61.58 and a 52-week high of $91.81.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The energy company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.10. The company had revenue of $229.76 million for the quarter, compared to analysts' expectations of $228.33 million. Ormat Technologies had a return on equity of 5.35% and a net margin of 14.18%. The firm's quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the business posted $0.64 earnings per share. Equities analysts anticipate that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 21st were issued a dividend of $0.12 per share. 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 21st. Ormat Technologies's dividend payout ratio (DPR) is 23.30%.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.