XTX Topco Ltd Boosts Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Key Points

• XTX Topco Ltd significantly increased its stake in Ormat Technologies by 121.4% during the first quarter, owning 12,258 shares valued at approximately $867,000.
• Ormat Technologies reported an earnings per share (EPS) of $0.68 for the latest quarter, beating analysts' expectations of $0.58.
• The company recently announced a quarterly dividend of $0.12, resulting in a yield of 0.5% and a dividend payout ratio of 23.30%.

XTX Topco Ltd boosted its position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 121.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,258 shares of the energy company's stock after buying an additional 6,721 shares during the period. XTX Topco Ltd's holdings in Ormat Technologies were worth $867,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ORA. Stuart Chaussee & Associates Inc. bought a new position in shares of Ormat Technologies during the 4th quarter valued at approximately $34,000. UMB Bank n.a. lifted its position in Ormat Technologies by 42.6% in the first quarter. UMB Bank n.a. now owns 880 shares of the energy company's stock valued at $62,000 after acquiring an additional 263 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Ormat Technologies by 60.6% in the 1st quarter. Signaturefd LLC now owns 890 shares of the energy company's stock valued at $63,000 after buying an additional 336 shares during the period. CWM LLC lifted its holdings in shares of Ormat Technologies by 294.2% during the 1st quarter. CWM LLC now owns 887 shares of the energy company's stock worth $63,000 after acquiring an additional 662 shares during the period. Finally, Headlands Technologies LLC bought a new position in Ormat Technologies during the 4th quarter valued at $66,000. Institutional investors own 95.49% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ORA. Robert W. Baird upgraded shares of Ormat Technologies from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $87.00 to $103.00 in a research note on Wednesday, July 30th. JPMorgan Chase & Co. lifted their price target on shares of Ormat Technologies from $75.00 to $85.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Barclays lifted their price objective on Ormat Technologies from $86.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Roth Capital restated a "buy" rating and set a $98.00 price target (up previously from $88.00) on shares of Ormat Technologies in a report on Tuesday. Finally, Baird R W raised Ormat Technologies from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $92.00.

Insider Activity at Ormat Technologies

In related news, Director Dafna Sharir sold 1,601 shares of the stock in a transaction on Friday, June 20th. The shares were sold at an average price of $85.63, for a total transaction of $137,093.63. Following the transaction, the director directly owned 3,238 shares of the company's stock, valued at $277,269.94. This represents a 33.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stanley Stern sold 547 shares of the company's stock in a transaction 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 sale, the director owned 6,137 shares of the company's stock, valued at approximately $524,958.98. The trade was a 8.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,329 shares of company stock worth $423,443. Company insiders own 0.56% of the company's stock.

Ormat Technologies Trading Up 1.8%

Shares of ORA traded up $1.56 during mid-day trading on Thursday, reaching $86.76. The company's stock had a trading volume of 341,238 shares, compared to its average volume of 509,072. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 0.77. Ormat Technologies, Inc. has a 52 week low of $61.58 and a 52 week high of $91.81. The stock has a market cap of $5.26 billion, a PE ratio of 42.17, a P/E/G ratio of 4.11 and a beta of 0.68. The company's fifty day moving average price is $84.37 and its two-hundred day moving average price is $74.64.

Ormat Technologies (NYSE:ORA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The energy company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.09. Ormat Technologies had a net margin of 14.18% and a return on equity of 5.35%. The firm had revenue of $234.02 million for the quarter, compared to analyst estimates of $225.26 million. During the same period in the previous year, the firm earned $0.37 EPS. Ormat Technologies's revenue was up 9.9% on a year-over-year basis. On average, analysts predict that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Company Profile

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.