Ormat Technologies, Inc. $ORA Stock Position Increased by Strs Ohio

Key Points

• Strs Ohio increased its stake in Ormat Technologies by 153.4%, purchasing an additional 8,900 shares to hold 14,700 shares worth about $1.624 million at quarter-end.
• Ormat posted stronger-than-expected quarterly results with $1.30 EPS vs. $0.92 expected and revenue of $403.91 million, up 75.8% year-over-year.
• Insider Jessica Woelfel sold 2,359 shares on March 3 (a 40.73% reduction in her holding); insiders now own 0.56% of the company.

Strs Ohio raised its position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 153.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,700 shares of the energy company's stock after purchasing an additional 8,900 shares during the period. Strs Ohio's holdings in Ormat Technologies were worth $1,624,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Wolff Wiese Magana LLC bought a new stake in shares of Ormat Technologies during the fourth quarter valued at approximately $33,000. Jones Financial Companies Lllp grew its holdings in Ormat Technologies by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company's stock worth $35,000 after buying an additional 113 shares in the last quarter. Ameriflex Group Inc. grew its holdings in Ormat Technologies by 1,100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 360 shares of the energy company's stock worth $35,000 after buying an additional 330 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Ormat Technologies by 251.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company's stock valued at $44,000 after acquiring an additional 374 shares during the period. Finally, USA Financial Formulas acquired a new stake in Ormat Technologies in the 4th quarter valued at approximately $51,000. Institutional investors own 95.49% of the company's stock.

Insider Transactions at Ormat Technologies

In related news, insider Jessica Woelfel sold 2,359 shares of Ormat Technologies stock in a transaction dated 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 directly owned 3,433 shares of the company's stock, valued at $361,014.28. The trade was a 40.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 3,364 shares of company stock worth $353,621 over the last quarter. 0.56% of the stock is owned by insiders.

Ormat Technologies Stock Performance

ORA opened at $115.19 on Thursday. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 57.31, a price-to-earnings-growth ratio of 5.05 and a beta of 0.80. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.81 and a quick ratio of 0.75. Ormat Technologies, Inc. has a 1-year low of $70.42 and a 1-year high of $132.58. The business has a 50 day moving average price of $111.12 and a two-hundred day moving average price of $113.38.

Ormat Technologies (NYSE:ORA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.38. Ormat Technologies had a return on equity of 5.21% and a net margin of 12.52%.The firm had revenue of $403.91 million during the quarter, compared to analyst estimates of $349.17 million. During the same period last year, the company posted $0.68 EPS. The firm's quarterly revenue was up 75.8% on a year-over-year basis. Research analysts predict that Ormat Technologies, Inc. will post 2.28 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 20th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $0.48 annualized dividend and a yield of 0.4%. Ormat Technologies's dividend payout ratio (DPR) is currently 23.88%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ORA. TD Cowen reduced their price target on Ormat Technologies from $131.00 to $125.00 and set a "buy" rating for the company in a research report on Friday, February 27th. Oppenheimer raised their price target on Ormat Technologies from $125.00 to $136.00 and gave the company an "outperform" rating in a report on Tuesday, January 27th. Weiss Ratings restated a "hold (c)" rating on shares of Ormat Technologies in a research note on Tuesday, April 21st. Royal Bank Of Canada assumed coverage on shares of Ormat Technologies in a report on Tuesday, March 3rd. They issued an "outperform" rating and a $130.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of Ormat Technologies from $108.00 to $106.00 and set a "neutral" rating for the company in a research report on Thursday, April 16th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $128.64.

Ormat Technologies 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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