MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $4.18 Million Position in Ormat Technologies, Inc. $ORA

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Ormat Technologies by 7.3% in Q1, holding 59,095 shares valued at approximately $4.18 million.
• Ormat Technologies recently reported a quarterly earnings per share of $0.48, surpassing estimates and indicating a 9.9% revenue increase year-over-year.
• Insiders have been selling shares, with total insider sales over the past 90 days reaching 11,976 shares valued at over $1.1 million, resulting in a decrease of insider ownership to 0.56%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 7.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 59,095 shares of the energy company's stock after purchasing an additional 4,037 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.10% of Ormat Technologies worth $4,182,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Stuart Chaussee & Associates Inc. acquired a new stake in Ormat Technologies during the 4th quarter worth about $34,000. UMB Bank n.a. boosted its position in Ormat Technologies by 42.6% during the 1st quarter. UMB Bank n.a. now owns 880 shares of the energy company's stock worth $62,000 after acquiring an additional 263 shares during the period. CWM LLC boosted its position in Ormat Technologies by 294.2% during the 1st quarter. CWM LLC now owns 887 shares of the energy company's stock worth $63,000 after acquiring an additional 662 shares during the period. Signaturefd LLC boosted its position in Ormat Technologies by 60.6% during the 1st quarter. Signaturefd LLC now owns 890 shares of the energy company's stock worth $63,000 after acquiring an additional 336 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Ormat Technologies by 30.7% during the 1st quarter. Russell Investments Group Ltd. now owns 1,072 shares of the energy company's stock worth $76,000 after acquiring an additional 252 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Stock Performance

ORA traded up $1.97 during trading on Wednesday, reaching $93.02. 187,088 shares of the company's stock were exchanged, compared to its average volume of 509,003. Ormat Technologies, Inc. has a fifty-two week low of $61.58 and a fifty-two week high of $95.36. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.77. The business has a 50 day moving average price of $89.89 and a 200 day moving average price of $79.87. The company has a market capitalization of $5.65 billion, a P/E ratio of 43.27, a PEG ratio of 4.27 and a beta of 0.69.

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

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.48 annualized dividend and a yield of 0.5%. Ormat Technologies's payout ratio is currently 22.33%.

Analysts Set New Price Targets

ORA has been the subject of a number of research reports. Barclays decreased their price objective on Ormat Technologies from $90.00 to $89.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. JPMorgan Chase & Co. raised their price target on Ormat Technologies from $75.00 to $85.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Robert W. Baird raised Ormat Technologies from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $87.00 to $103.00 in a research note on Wednesday, July 30th. TD Cowen raised their price target on Ormat Technologies from $76.00 to $85.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. Finally, Baird R W raised Ormat Technologies from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $94.50.

Insiders Place Their Bets

In related news, CFO Assi Ginzburg sold 7,066 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $94.71, for a total value of $669,220.86. Following the sale, the chief financial officer owned 33,825 shares of the company's stock, valued at $3,203,565.75. The trade was a 17.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dafna Sharir sold 1,601 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $85.63, for a total value of $137,093.63. Following the completion of the sale, the director directly owned 3,238 shares in the company, valued at approximately $277,269.94. This represents a 33.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,976 shares of company stock worth $1,105,067 over the last quarter. Corporate insiders own 0.56% of the company's stock.

Ormat Technologies Company 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.