SG Americas Securities LLC Purchases 27,659 Shares of Ormat Technologies, Inc. $ORA

Key Points

• SG Americas Securities LLC increased its stake in Ormat Technologies by 549.8% in Q4, buying 27,659 shares and bringing its holding to 32,690 shares worth about $3.61 million (≈0.05% of the company).
• Wall Street analysts carry a consensus rating of "Moderate Buy" with an average target price of $129.09 (8 Buys, 4 Holds), and institutional investors own 95.49% of the stock.
• Ormat reported Q4 revenue of $276.0 million (up 19.6% year-over-year) and EPS of $0.67 (in line with estimates); the company pays a quarterly dividend of $0.12 (annualized yield ~0.4%) and trades at a P/E of about 56.

SG Americas Securities LLC grew its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 549.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,690 shares of the energy company's stock after purchasing an additional 27,659 shares during the quarter. SG Americas Securities LLC owned approximately 0.05% of Ormat Technologies worth $3,611,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Ormat Technologies in the fourth quarter worth approximately $262,000. Green Alpha Advisors LLC increased its holdings in Ormat Technologies by 4.4% during the fourth quarter. Green Alpha Advisors LLC now owns 6,274 shares of the energy company's stock valued at $693,000 after buying an additional 264 shares during the last quarter. GAMMA Investing LLC raised its position in Ormat Technologies by 16.6% in the fourth quarter. GAMMA Investing LLC now owns 1,364 shares of the energy company's stock worth $151,000 after acquiring an additional 194 shares during the period. Keel Point LLC bought a new position in Ormat Technologies in the third quarter worth approximately $207,000. Finally, Swiss Life Asset Management Ltd purchased a new position in shares of Ormat Technologies during the 3rd quarter worth $256,000. Institutional investors own 95.49% of the company's stock.

Wall Street Analysts Forecast Growth

ORA has been the subject of a number of recent research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Ormat Technologies in a research report on Thursday, January 22nd. Piper Sandler raised their target price on Ormat Technologies from $102.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, December 18th. Citigroup lifted their target price on Ormat Technologies from $110.00 to $128.00 and gave the company a "neutral" rating in a research report on Wednesday, February 18th. UBS Group reduced their price target on Ormat Technologies from $148.00 to $143.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. Finally, TD Cowen decreased their price objective on Ormat Technologies from $131.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, February 27th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $129.09.

Insider Buying and Selling

In other news, insider Jessica Woelfel sold 2,359 shares of the business's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $105.16, for a total value of $248,072.44. Following the transaction, the insider directly owned 3,433 shares in the company, valued at $361,014.28. The trade was a 40.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 3,364 shares of company stock worth $353,621 over the last quarter. 0.56% of the stock is owned by company insiders.

Ormat Technologies Stock Performance

ORA opened at $112.70 on Friday. The company has a 50 day simple moving average of $115.54 and a two-hundred day simple moving average of $111.12. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.81 and a quick ratio of 0.75. The firm has a market cap of $6.86 billion, a P/E ratio of 56.07, a PEG ratio of 4.80 and a beta of 0.80. Ormat Technologies, Inc. has a 1-year low of $64.39 and a 1-year high of $132.58.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The energy company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. Ormat Technologies had a net margin of 12.52% and a return on equity of 5.21%. The firm had revenue of $276.04 million for the quarter, compared to the consensus estimate of $257.75 million. During the same period last year, the firm earned $0.67 EPS. The company's revenue was up 19.6% on a year-over-year basis. Equities analysts forecast that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. Ormat Technologies's dividend payout ratio (DPR) is currently 23.88%.

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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