L & S Advisors Inc Boosts Stock Holdings in Ormat Technologies, Inc. $ORA

Key Points

• L & S Advisors Inc boosted its Ormat Technologies stake by 88.9% in the fourth quarter, ending with 18,466 shares worth about $2.04 million.
• Institutional interest remains strong, with hedge funds and other investors owning 95.49% of Ormat’s stock. Several firms increased positions, while analysts still rate the stock Moderate Buy with a consensus price target of $131.64.
• Ormat reported a strong quarter, posting $1.30 EPS versus $0.92 expected and revenue of $403.91 million, up 75.8% year over year. The company also announced a quarterly dividend of $0.12 per share.

L & S Advisors Inc increased its stake in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 88.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,466 shares of the energy company's stock after purchasing an additional 8,693 shares during the quarter. L & S Advisors Inc's holdings in Ormat Technologies were worth $2,040,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ORA. AQR Capital Management LLC increased its position in shares of Ormat Technologies by 324.1% during the first quarter. AQR Capital Management LLC now owns 24,918 shares of the energy company's stock worth $1,740,000 after acquiring an additional 19,043 shares during the period. United Services Automobile Association purchased a new position in shares of Ormat Technologies in the 1st quarter valued at approximately $243,000. Empowered Funds LLC raised its stake in shares of Ormat Technologies by 7.3% in the first quarter. Empowered Funds LLC now owns 4,201 shares of the energy company's stock worth $297,000 after purchasing an additional 286 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Ormat Technologies by 22.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 234,467 shares of the energy company's stock valued at $16,593,000 after acquiring an additional 43,483 shares during the last quarter. Finally, Intech Investment Management LLC lifted its holdings in shares of Ormat Technologies by 10.5% in the 1st quarter. Intech Investment Management LLC now owns 24,592 shares of the energy company's stock valued at $1,740,000 after buying an additional 2,329 shares during the period. Hedge funds and other institutional investors own 95.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. 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 report on Friday, May 8th. TD Cowen reduced their target price on Ormat Technologies from $131.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, February 27th. Oppenheimer reaffirmed an "outperform" rating and set a $144.00 price objective on shares of Ormat Technologies in a report on Friday, May 8th. Roth Mkm reissued a "buy" rating and set a $135.00 target price on shares of Ormat Technologies in a research note on Monday, May 11th. Finally, Royal Bank Of Canada initiated coverage on shares of Ormat Technologies in a research note on Tuesday, March 3rd. They issued an "outperform" rating and a $130.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $131.64.

Insiders Place Their Bets

In other news, insider Jessica Woelfel sold 2,359 shares of Ormat Technologies stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $105.16, for a total transaction of $248,072.44. Following the transaction, the insider owned 3,433 shares in the company, valued at $361,014.28. The trade was a 40.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stanley Stern sold 577 shares of the company's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $130.17, for a total transaction of $75,108.09. Following the completion of the sale, the director directly owned 6,050 shares of the company's stock, valued at $787,528.50. This represents a 8.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 27,100 shares of company stock worth $3,536,599. 0.56% of the stock is currently owned by company insiders.

Ormat Technologies Stock Performance

ORA opened at $131.52 on Monday. The firm has a market capitalization of $8.08 billion, a PE ratio of 63.84, a PEG ratio of 5.63 and a beta of 0.80. 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 twelve month low of $70.42 and a twelve month high of $138.51. The firm's 50-day moving average price is $113.73 and its 200 day moving average price is $114.42.

Ormat Technologies (NYSE:ORA - Get Free Report) last issued its earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.38. The business had revenue of $403.91 million for the quarter, compared to analysts' expectations of $349.17 million. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.97%.The business's revenue for the quarter was up 75.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 EPS. As a group, sell-side analysts expect that Ormat Technologies, Inc. will post 2.33 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

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

Ormat Technologies Company Profile

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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