Hsbc Holdings PLC Has $5.17 Million Holdings in Ormat Technologies, Inc. $ORA

Hsbc Holdings PLC raised its holdings in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 459.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,763 shares of the energy company's stock after acquiring an additional 38,399 shares during the period. Hsbc Holdings PLC owned about 0.08% of Ormat Technologies worth $5,171,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ORA. Norges Bank bought a new stake in shares of Ormat Technologies during the 4th quarter valued at approximately $86,545,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Ormat Technologies by 155.8% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 886,526 shares of the energy company's stock valued at $97,935,000 after purchasing an additional 540,000 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Ormat Technologies by 62.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company's stock valued at $89,928,000 after purchasing an additional 413,384 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in Ormat Technologies in the second quarter valued at approximately $18,310,000. Finally, AEGON ASSET MANAGEMENT UK Plc boosted its position in Ormat Technologies by 102.6% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 294,748 shares of the energy company's stock valued at $32,549,000 after buying an additional 149,271 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company's stock.

Ormat Technologies Trading Down 3.1%

Shares of ORA stock opened at $116.35 on Friday. Ormat Technologies, Inc. has a 1-year low of $82.33 and a 1-year high of $146.39. 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 stock has a market cap of $7.15 billion, a price-to-earnings ratio of 56.48, a PEG ratio of 4.95 and a beta of 0.85. The stock has a 50-day moving average of $127.33 and a 200-day moving average of $119.28.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.38. The company had revenue of $403.91 million for the quarter, compared to analyst estimates of $349.17 million. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.97%.The firm's quarterly revenue was up 75.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 earnings per share. On average, equities research analysts forecast that Ormat Technologies, Inc. will post 2.35 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 20th were issued a $0.12 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $0.48 annualized dividend and a yield of 0.4%. Ormat Technologies's payout ratio is presently 23.30%.

Insider Buying and Selling at Ormat Technologies

In other news, CFO Assi Ginzburg sold 17,776 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $134.75, for a total transaction of $2,395,316.00. Following the completion of the sale, the chief financial officer owned 1,970 shares in the company, valued at $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 is available through this hyperlink. Also, Director Byron G. Wong sold 4,500 shares of the company's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $134.32, for a total transaction of $604,440.00. Following the transaction, the director owned 5,925 shares in the company, valued at approximately $795,846. The trade was a 43.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 30,585 shares of company stock valued at $4,090,998. 0.56% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ORA. Royal Bank Of Canada assumed coverage on shares of Ormat Technologies in a report on Tuesday, March 3rd. They set an "outperform" rating and a $130.00 price target for the company. Roth Mkm reissued a "buy" rating and set a $135.00 price objective on shares of Ormat Technologies in a report on Monday, May 11th. Wolfe Research started coverage on Ormat Technologies in a research report on Monday, June 8th. They set a "peer perform" rating on the stock. Barclays upped their target price on Ormat Technologies from $123.00 to $126.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $144.00 target price on shares of Ormat Technologies in a research report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $131.67.

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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