Mizuho Markets Americas LLC Acquires 6,800 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Key Points

• Mizuho Markets Americas LLC increased its stake in Ormat Technologies by 4.5%, acquiring an additional 6,800 shares, bringing its total ownership to approximately 0.26% valued at around $11.2 million.
• Ormat Technologies reported an earnings per share (EPS) of $0.46 for the recent quarter, exceeding analyst expectations of $0.37, with a revenue of $234.02 million.
• The company declared a quarterly dividend of $0.12 per share, indicating a yield of 0.6% and a dividend payout ratio of 23.3%.

Mizuho Markets Americas LLC increased its holdings in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 4.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 158,602 shares of the energy company's stock after buying an additional 6,800 shares during the period. Mizuho Markets Americas LLC owned about 0.26% of Ormat Technologies worth $11,224,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of ORA. Raymond James Financial Inc. acquired a new position in Ormat Technologies during the 4th quarter valued at about $204,000. Franklin Resources Inc. bought a new stake in shares of Ormat Technologies during the 4th quarter worth about $526,000. Geode Capital Management LLC raised its position in shares of Ormat Technologies by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 1,373,426 shares of the energy company's stock worth $93,029,000 after buying an additional 72,135 shares in the last quarter. Invesco Ltd. raised its position in shares of Ormat Technologies by 3.1% during the 4th quarter. Invesco Ltd. now owns 225,851 shares of the energy company's stock worth $15,295,000 after buying an additional 6,702 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Ormat Technologies by 2.0% during the 4th quarter. Legal & General Group Plc now owns 478,768 shares of the energy company's stock worth $32,422,000 after buying an additional 9,198 shares in the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Ormat Technologies Trading Down 0.9%

Shares of ORA stock traded down $0.81 during trading hours on Thursday, reaching $88.68. 263,686 shares of the stock traded hands, compared to its average volume of 508,514. Ormat Technologies, Inc. has a 1-year low of $61.58 and a 1-year high of $91.81. The business has a fifty day moving average price of $85.75 and a 200 day moving average price of $75.41. 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 firm has a market capitalization of $5.38 billion, a PE ratio of 41.25, a PEG ratio of 4.23 and a beta of 0.68.

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

Ormat Technologies Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have commented on ORA. Roth Capital restated a "buy" rating and set a $98.00 price target (up from $88.00) on shares of Ormat Technologies in a research report on Tuesday, August 5th. Cowen restated a "hold" rating on shares of Ormat Technologies in a research report on Friday, August 8th. Robert W. Baird upgraded shares of Ormat Technologies from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $87.00 to $103.00 in a report on Wednesday, July 30th. Barclays dropped their target price on shares of Ormat Technologies from $90.00 to $89.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Ormat Technologies from $75.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Five 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 stock. Based on data from MarketBeat.com, Ormat Technologies presently has an average rating of "Moderate Buy" and an average target price of $92.10.

Insider Activity at Ormat Technologies

In related news, Director Stanley Stern sold 547 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $85.54, for a total transaction of $46,790.38. Following the transaction, the director directly owned 6,137 shares of the company's stock, valued at approximately $524,958.98. The trade was a 8.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dafna Sharir sold 1,601 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $85.63, for a total transaction of $137,093.63. Following the transaction, the director directly owned 3,238 shares in the company, valued at $277,269.94. The trade was a 33.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,379 shares of company stock valued at $353,998. Company insiders own 0.56% of the company's stock.

Ormat Technologies 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.