Swiss National Bank Has $7.88 Million Stock Holdings in Ormat Technologies, Inc. $ORA

Key Points

• The Swiss National Bank increased its holdings in Ormat Technologies by 4.0% during the first quarter, owning 111,334 shares valued at approximately $7.9 million.
• Ormat Technologies reported better-than-expected earnings for the last quarter, with an Earnings Per Share (EPS) of $0.48, surpassing the consensus estimate of $0.37.
• The company announced a quarterly dividend of $0.12 per share, which has a yield of 0.5%, and is scheduled to be paid to shareholders of record on August 20th.

Swiss National Bank boosted its stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 4.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,334 shares of the energy company's stock after purchasing an additional 4,300 shares during the quarter. Swiss National Bank owned about 0.18% of Ormat Technologies worth $7,879,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Louisiana State Employees Retirement System increased its holdings in Ormat Technologies by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 16,100 shares of the energy company's stock valued at $1,139,000 after purchasing an additional 200 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Ormat Technologies by 6.3% in the first quarter. Mackenzie Financial Corp now owns 3,687 shares of the energy company's stock worth $261,000 after acquiring an additional 220 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Ormat Technologies by 42.6% in the first quarter. UMB Bank n.a. now owns 880 shares of the energy company's stock worth $62,000 after acquiring an additional 263 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Ormat Technologies by 8.8% in the first quarter. Perigon Wealth Management LLC now owns 3,440 shares of the energy company's stock worth $243,000 after acquiring an additional 278 shares in the last quarter. Finally, New York State Teachers Retirement System increased its holdings in shares of Ormat Technologies by 0.9% in the first quarter. New York State Teachers Retirement System now owns 32,180 shares of the energy company's stock worth $2,277,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 95.49% of the company's stock.

Insider Transactions at Ormat Technologies

In related news, Director Stanley Stern sold 547 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $85.54, for a total transaction of $46,790.38. Following the completion of the transaction, the director directly owned 6,137 shares of the company's stock, valued at approximately $524,958.98. This represents 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 this hyperlink. Also, Director Michal Marom sold 895 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $73.47, for a total value of $65,755.65. Following the transaction, the director directly owned 3,080 shares of the company's stock, valued at $226,287.60. This trade represents a 22.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,038 shares of company stock valued at $337,192 over the last three months. 0.56% of the stock is currently owned by corporate insiders.

Ormat Technologies Stock Up 0.2%

Shares of ORA stock traded up $0.2210 on Thursday, hitting $92.5010. 329,929 shares of the stock were exchanged, compared to its average volume of 553,121. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $5.62 billion, a P/E ratio of 43.02, a price-to-earnings-growth ratio of 4.29 and a beta of 0.68. The business has a 50-day moving average of $87.33 and a 200 day moving average of $76.55. Ormat Technologies, Inc. has a fifty-two week low of $61.58 and a fifty-two week high of $93.26.

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

Ormat Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Cowen restated a "hold" rating on shares of Ormat Technologies in a report on Friday, August 8th. Roth Capital restated a "buy" rating and issued a $98.00 price target (up from $88.00) on shares of Ormat Technologies in a report on Tuesday, August 5th. Robert W. Baird upgraded Ormat Technologies from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $87.00 to $103.00 in a report on Wednesday, July 30th. TD Cowen increased their price target on Ormat Technologies from $76.00 to $85.00 and gave the stock a "hold" rating in a report on Friday, August 8th. Finally, Baird R W upgraded Ormat Technologies from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $93.30.

About Ormat Technologies

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.