Vanguard Group Inc. Has $661.56 Million Stock Holdings in Ormat Technologies, Inc. $ORA

Key Points

• Vanguard Group Inc. trimmed its stake by 0.7% in Q4 to 5,988,601 shares—about 9.85% of Ormat, valued at roughly $661.56 million after selling 44,181 shares.
• Ormat reported Q results with EPS of $0.67 (in line) and revenue of $276.04 million, up 19.6% year-over-year; analysts hold a consensus "Moderate Buy" with an average price target of $128.64 and projected FY EPS of 2.28.
• The company pays a quarterly dividend of $0.12 (annualized $0.48, ~0.4% yield), institutional investors own 95.49% of the stock, and insiders recently sold shares, leaving insiders with 0.56% ownership.

Vanguard Group Inc. reduced its stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,988,601 shares of the energy company's stock after selling 44,181 shares during the period. Vanguard Group Inc. owned 9.85% of Ormat Technologies worth $661,557,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Signaturefd LLC boosted its position in shares of Ormat Technologies by 13.0% in the 4th quarter. Signaturefd LLC now owns 746 shares of the energy company's stock worth $82,000 after purchasing an additional 86 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Ormat Technologies by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company's stock valued at $35,000 after purchasing an additional 113 shares during the period. CWM LLC raised its stake in shares of Ormat Technologies by 14.2% in the 4th quarter. CWM LLC now owns 1,254 shares of the energy company's stock valued at $139,000 after purchasing an additional 156 shares during the period. Crossmark Global Holdings Inc. raised its stake in shares of Ormat Technologies by 4.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,803 shares of the energy company's stock valued at $366,000 after purchasing an additional 158 shares during the period. Finally, Mackenzie Financial Corp increased its position in shares of Ormat Technologies by 4.7% in the third quarter. Mackenzie Financial Corp now owns 3,862 shares of the energy company's stock valued at $372,000 after acquiring an additional 175 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors.

Ormat Technologies Stock Up 0.0%

Shares of ORA opened at $113.54 on Monday. Ormat Technologies, Inc. has a 52 week low of $70.42 and a 52 week high of $132.58. The stock has a market capitalization of $6.98 billion, a price-to-earnings ratio of 56.49, a PEG ratio of 4.97 and a beta of 0.80. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.75 and a current ratio of 0.81. The stock has a fifty day moving average of $111.13 and a 200-day moving average of $113.30.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The energy company reported $0.67 EPS for the quarter, meeting analysts' consensus estimates of $0.67. Ormat Technologies had a return on equity of 5.21% and a net margin of 12.52%.The company had revenue of $276.04 million during the quarter, compared to analysts' expectations of $257.75 million. During the same period in the prior year, the company earned $0.67 EPS. Ormat Technologies's revenue was up 19.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ormat Technologies, Inc. will post 2.28 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Tuesday, March 10th. Ormat Technologies's dividend payout ratio is presently 23.88%.

Insiders Place Their Bets

In related news, insider Jessica Woelfel sold 2,359 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $105.16, for a total value of $248,072.44. Following the completion of the sale, the insider directly owned 3,433 shares in the company, valued at $361,014.28. This represents a 40.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 3,364 shares of company stock valued at $353,621 in the last three months. Corporate insiders own 0.56% of the company's stock.

Wall Street Analysts Forecast Growth

ORA has been the topic of a number of recent research reports. TD Cowen lowered their target price on Ormat Technologies from $131.00 to $125.00 and set a "buy" rating on the stock in a research report on Friday, February 27th. Royal Bank Of Canada assumed coverage on Ormat Technologies in a report on Tuesday, March 3rd. They set an "outperform" rating and a $130.00 price objective for the company. Weiss Ratings restated a "hold (c)" rating on shares of Ormat Technologies in a report on Tuesday, April 21st. Citigroup boosted their price target on Ormat Technologies from $110.00 to $128.00 and gave the company a "neutral" rating in a research note on Wednesday, February 18th. Finally, JPMorgan Chase & Co. cut their price target on Ormat Technologies from $108.00 to $106.00 and set a "neutral" rating for the company in a research note on Thursday, April 16th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $128.64.

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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