UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 24,407 Shares of Ormat Technologies, Inc. $ORA

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 18.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 158,727 shares of the energy company's stock after buying an additional 24,407 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.26% of Ormat Technologies worth $17,285,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new stake in Ormat Technologies in the fourth quarter worth $26,000. Main Street Group LTD purchased a new position in Ormat Technologies during the 1st quarter valued at $29,000. Caitong International Asset Management Co. Ltd bought a new position in Ormat Technologies in the 4th quarter worth $31,000. Smartleaf Asset Management LLC lifted its position in shares of Ormat Technologies by 245.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company's stock worth $33,000 after purchasing an additional 211 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Ormat Technologies in the 4th quarter worth about $32,000. 95.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ORA. Wall Street Zen cut shares of Ormat Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. raised their target price on Ormat Technologies from $106.00 to $123.00 and gave the company a "neutral" rating in a research note on Friday, May 8th. Wolfe Research assumed coverage on Ormat Technologies in a research note on Monday, June 8th. They issued a "peer perform" rating on the stock. Roth Capital reiterated a "buy" rating and issued a $135.00 price objective on shares of Ormat Technologies in a report on Monday, May 11th. Finally, UBS Group raised their price objective on Ormat Technologies from $143.00 to $152.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $130.83.

Ormat Technologies Stock Up 1.1%

ORA stock opened at $105.38 on Friday. Ormat Technologies, Inc. has a twelve month low of $89.70 and a twelve month high of $146.39. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 0.87. The firm has a market cap of $6.48 billion, a PE ratio of 51.91, a price-to-earnings-growth ratio of 4.21 and a beta of 0.90. The business has a 50 day moving average of $106.48 and a 200 day moving average of $115.37.

Ormat Technologies (NYSE:ORA - Get Free Report) last released its earnings results on Wednesday, August 5th. The energy company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.26 by $0.24. The business had revenue of $258.76 million for the quarter, compared to the consensus estimate of $240.03 million. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.66%.The company's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 earnings per share. On average, research analysts forecast that Ormat Technologies, Inc. will post 2.47 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, August 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. Ormat Technologies's dividend payout ratio is presently 23.65%.

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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