Banque Cantonale Vaudoise Purchases New 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 Ormat Technologies, Inc. (NYSE:ORA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 19,917 shares of the energy company's stock, valued at approximately $1,410,000.

Several other large investors have also recently bought and sold shares of ORA. Mackenzie Financial Corp raised its position in shares of Ormat Technologies by 6.3% during the 1st quarter. Mackenzie Financial Corp now owns 3,687 shares of the energy company's stock valued at $261,000 after buying an additional 220 shares in the last quarter. Van Berkom & Associates Inc. raised its position in shares of Ormat Technologies by 2.7% during the 1st quarter. Van Berkom & Associates Inc. now owns 1,280,026 shares of the energy company's stock valued at $90,587,000 after buying an additional 33,719 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Ormat Technologies during the 1st quarter valued at $608,000. KLP Kapitalforvaltning AS raised its position in shares of Ormat Technologies by 3.6% during the 1st quarter. KLP Kapitalforvaltning AS now owns 91,100 shares of the energy company's stock valued at $6,447,000 after buying an additional 3,200 shares in the last quarter. Finally, Bailard Inc. raised its position in shares of Ormat Technologies by 4.1% during the 1st quarter. Bailard Inc. now owns 20,246 shares of the energy company's stock valued at $1,433,000 after buying an additional 800 shares in the last quarter. 95.49% of the stock is owned by institutional investors.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, Director Byron G. Wong sold 460 shares of the business's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $84.04, for a total value of $38,658.40. Following the transaction, the director owned 8,659 shares in the company, valued at approximately $727,702.36. The trade was a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michal Marom sold 895 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $73.47, for a total transaction of $65,755.65. Following the transaction, the director owned 3,080 shares in the company, valued at $226,287.60. This represents a 22.52% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,329 shares of company stock valued at $423,443. Company insiders own 0.56% of the company's stock.

Ormat Technologies Trading Down 0.8%

Shares of ORA 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 506,466. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 43.06, a P/E/G ratio of 4.31 and a beta of 0.64. Ormat Technologies, Inc. has a one year low of $61.58 and a one year high of $91.81. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.90 and a current ratio of 0.97. The company's fifty day simple moving average is $83.19 and its 200 day simple moving average is $74.09.

Ormat Technologies (NYSE:ORA - Get Free Report) last released its quarterly earnings data 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. Ormat Technologies had a net margin of 14.18% and a return on equity of 5.35%. The firm had revenue of $229.76 million for the quarter, compared to analysts' expectations of $228.33 million. During the same quarter in the previous year, the company earned $0.64 earnings per share. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts forecast that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 21st were given a $0.12 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. Ormat Technologies's payout ratio is presently 23.30%.

Analyst Ratings Changes

Several research firms have recently weighed in on ORA. Barclays raised their price objective on shares of Ormat Technologies from $86.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. UBS Group raised their price objective on shares of Ormat Technologies from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Baird R W upgraded shares of Ormat Technologies from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Ormat Technologies from $75.00 to $85.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Finally, Wall Street Zen raised shares of Ormat Technologies from a "sell" rating to a "hold" rating in a report on Monday, April 7th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Ormat Technologies has an average rating of "Moderate Buy" and a consensus price target of $91.25.

Ormat Technologies Profile

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.