Eagle Global Advisors LLC Has $1.37 Million Stock Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Key Points

• Eagle Global Advisors LLC reduced its stake in Ormat Technologies by 14.5%, now holding 19,400 shares valued at approximately $1.37 million after selling 3,300 shares.
• In recent transactions, director Dafna Sharir sold 1,601 shares of Ormat Technologies, decreasing their position by 33.09% and totaling $137,093 in value.
• The company's latest earnings report showed a significant performance with a net margin of 14.49% and revenue of $234.02 million, exceeding analysts' expectations.

Eagle Global Advisors LLC lessened its position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 14.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,400 shares of the energy company's stock after selling 3,300 shares during the period. Eagle Global Advisors LLC's holdings in Ormat Technologies were worth $1,373,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ORA. Teacher Retirement System of Texas bought a new stake in shares of Ormat Technologies in the 1st quarter worth approximately $593,000. Empower Advisory Group LLC increased its position in Ormat Technologies by 6.5% in the 1st quarter. Empower Advisory Group LLC now owns 215,327 shares of the energy company's stock valued at $15,239,000 after acquiring an additional 13,061 shares during the period. Bayforest Capital Ltd increased its position in Ormat Technologies by 2,293.3% in the 1st quarter. Bayforest Capital Ltd now owns 6,773 shares of the energy company's stock valued at $479,000 after acquiring an additional 6,490 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its position in Ormat Technologies by 273,109.4% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 956,233 shares of the energy company's stock valued at $67,673,000 after acquiring an additional 955,883 shares during the period. Finally, Franklin Resources Inc. acquired a new stake in Ormat Technologies in the 4th quarter valued at approximately $526,000. Institutional investors own 95.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ORA shares. JPMorgan Chase & Co. raised their target price on Ormat Technologies from $75.00 to $85.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Oppenheimer restated an "outperform" rating and issued a $100.00 target price on shares of Ormat Technologies in a research report on Friday, August 8th. TD Cowen raised their target price on Ormat Technologies from $76.00 to $85.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Roth Capital restated a "buy" rating and issued a $98.00 target price (up from $88.00) on shares of Ormat Technologies in a research report on Tuesday, August 5th. Finally, Barclays lowered their target price on Ormat Technologies from $90.00 to $89.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $92.10.

Ormat Technologies Price Performance

ORA stock traded up $0.72 during trading hours on Wednesday, hitting $89.59. 493,032 shares of the stock traded hands, compared to its average volume of 495,472. The stock has a 50-day simple moving average of $85.75 and a 200 day simple moving average of $75.41. Ormat Technologies, Inc. has a one year low of $61.58 and a one year high of $91.81. The company has a market cap of $5.44 billion, a P/E ratio of 41.67, a P/E/G ratio of 4.23 and a beta of 0.68. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.77.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its earnings results on Wednesday, August 6th. The energy company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.11. The business had revenue of $234.02 million during the quarter, compared to analysts' expectations of $225.26 million. Ormat Technologies had a return on equity of 5.47% and a net margin of 14.49%. The company's quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the business posted $0.37 earnings per share. Equities analysts forecast that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, August 20th. Ormat Technologies's payout ratio is presently 22.33%.

Insider Buying and Selling

In related news, Director Byron G. Wong sold 460 shares of Ormat Technologies stock in a transaction on Friday, June 27th. The stock was sold at an average price of $84.04, for a total value of $38,658.40. Following the transaction, the director directly owned 8,659 shares in the company, valued at $727,702.36. The trade was a 5.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michal Marom sold 895 shares of Ormat Technologies stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $73.47, for a total value of $65,755.65. Following the completion of the transaction, the director owned 3,080 shares in the company, valued at $226,287.60. The trade was a 22.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,379 shares of company stock valued at $353,998. Insiders own 0.56% of the company's stock.

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.