XTX Topco Ltd Increases 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 lifted its position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 121.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,258 shares of the energy company's stock after purchasing an additional 6,721 shares during the quarter. XTX Topco Ltd's holdings in Ormat Technologies were worth $867,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ORA. Raymond James Financial Inc. purchased a new position in shares of Ormat Technologies in the 4th quarter valued at about $204,000. Pictet Asset Management Holding SA grew its position in shares of Ormat Technologies by 128.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 18,725 shares of the energy company's stock valued at $1,268,000 after purchasing an additional 10,535 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of Ormat Technologies in the fourth quarter valued at approximately $526,000. Geode Capital Management LLC raised its stake in Ormat Technologies by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 1,373,426 shares of the energy company's stock worth $93,029,000 after purchasing an additional 72,135 shares during the period. Finally, Headlands Technologies LLC purchased a new position in Ormat Technologies during the fourth quarter worth about $66,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Ormat Technologies Price Performance

Shares of ORA opened at $88.71 on Monday. Ormat Technologies, Inc. has a fifty-two week low of $61.58 and a fifty-two week high of $91.81. The firm's 50 day moving average price is $83.53 and its 200 day moving average price is $74.35. The company has a market cap of $5.38 billion, a P/E ratio of 43.06, a PEG ratio of 4.28 and a beta of 0.68. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.77.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.10. The business had revenue of $229.76 million during the quarter, compared to analysts' expectations of $228.33 million. Ormat Technologies had a return on equity of 5.35% and a net margin of 14.18%. The business's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. On average, research analysts forecast that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $0.48 annualized dividend and a yield of 0.5%. Ormat Technologies's dividend payout ratio (DPR) is 23.30%.

Insider Transactions at Ormat Technologies

In related news, Director Michal Marom sold 895 shares of the firm's 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 sale, the director 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dafna Sharir sold 1,601 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $85.63, for a total value of $137,093.63. Following the completion of the transaction, the director directly owned 3,238 shares of the company's stock, valued at $277,269.94. This trade represents a 33.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,329 shares of company stock valued at $423,443 over the last quarter. Insiders own 0.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays lifted their target price on shares of Ormat Technologies from $86.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. lifted their target price on shares of Ormat Technologies from $75.00 to $85.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Wall Street Zen raised shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research note on Monday, April 7th. Baird R W raised shares of Ormat Technologies from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Finally, Robert W. Baird raised shares of Ormat Technologies from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $87.00 to $103.00 in a research note on Wednesday, July 30th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $91.25.

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.

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