First Trust Advisors LP Has $22.71 Million Stock Holdings in Ormat Technologies, Inc. $ORA

First Trust Advisors LP lifted its stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 5.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 202,944 shares of the energy company's stock after acquiring an additional 11,281 shares during the quarter. First Trust Advisors LP owned approximately 0.33% of Ormat Technologies worth $22,713,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new position in Ormat Technologies during the fourth quarter valued at approximately $86,545,000. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Ormat Technologies by 155.8% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 886,526 shares of the energy company's stock worth $97,935,000 after purchasing an additional 540,000 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Ormat Technologies by 62.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company's stock worth $89,928,000 after purchasing an additional 413,384 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Ormat Technologies by 32.7% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,147,863 shares of the energy company's stock worth $128,469,000 after purchasing an additional 282,583 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Ormat Technologies in the 2nd quarter valued at approximately $18,310,000. Institutional investors own 95.49% of the company's stock.

Insider Transactions at Ormat Technologies

In related news, Director Michal Marom sold 3,080 shares of Ormat Technologies 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 completion of the sale, the director owned 1,766 shares of the company's stock, valued at approximately $231,293.02. The trade was a 63.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Assi Ginzburg sold 17,776 shares of the company'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 completion of the transaction, the chief financial officer owned 1,970 shares in the company, valued at approximately $265,457.50. This trade represents a 90.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 30,585 shares of company stock valued at $4,090,998. Corporate insiders own 0.50% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on ORA. Roth Capital reissued a "buy" rating and issued a $135.00 target price on shares of Ormat Technologies in a research note on Monday, May 11th. JPMorgan Chase & Co. upped their price target on shares of Ormat Technologies from $106.00 to $123.00 and gave the stock a "neutral" rating in a research report on Friday, May 8th. Piper Sandler increased their price target on shares of Ormat Technologies from $125.00 to $142.00 and gave the company an "overweight" rating in a research note on Monday, May 18th. UBS Group lifted their price objective on shares of Ormat Technologies from $143.00 to $152.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Ormat Technologies in a research note on Friday, July 17th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Ormat Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $131.75.

Ormat Technologies Stock Performance

Shares of NYSE ORA opened at $94.27 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.87. 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 $121.41 and a 200-day moving average of $118.35. The company has a market capitalization of $5.79 billion, a P/E ratio of 45.76, a P/E/G ratio of 4.20 and a beta of 0.88.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $349.17 million. During the same period in the previous year, the firm earned $0.68 EPS. The firm's revenue was up 75.8% compared to the same quarter last year. As a group, equities research analysts predict that Ormat Technologies, Inc. will post 2.35 EPS for the current year.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Wednesday, May 20th. Ormat Technologies's payout ratio is currently 23.30%.

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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