Mizuho Markets Americas LLC Raises Stock Position in Ormat Technologies, Inc. $ORA

Mizuho Markets Americas LLC increased its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 6.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 149,266 shares of the energy company’s stock after purchasing an additional 8,785 shares during the period. Mizuho Markets Americas LLC owned 0.24% of Ormat Technologies worth $16,706,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ORA. Aster Capital Management DIFC Ltd purchased a new position in Ormat Technologies in the fourth quarter valued at about $26,000. Main Street Group LTD purchased a new stake in shares of Ormat Technologies in the first quarter worth about $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Ormat Technologies in the fourth quarter worth about $31,000. Los Angeles Capital Management LLC acquired a new stake in shares of Ormat Technologies in the fourth quarter valued at about $32,000. Finally, Wolff Wiese Magana LLC acquired a new stake in shares of Ormat Technologies in the fourth quarter valued at about $33,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ORA has been the topic of several analyst reports. Oppenheimer reiterated an “outperform” rating and set a $144.00 target price on shares of Ormat Technologies in a report on Friday, May 8th. Barclays increased their price objective on shares of Ormat Technologies from $126.00 to $127.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Sanford C. Bernstein began coverage on shares of Ormat Technologies in a research note on Tuesday, June 16th. They set an “underperform” rating and a $115.00 price objective on the stock. Wolfe Research initiated coverage on shares of Ormat Technologies in a research report on Monday, June 8th. They set a “peer perform” rating on the stock. Finally, Roth Capital restated a “buy” rating and issued a $135.00 target price on shares of Ormat Technologies in a research note on Monday, May 11th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.75.

Ormat Technologies Price Performance

Shares of NYSE ORA opened at $103.85 on Friday. Ormat Technologies, Inc. has a fifty-two week low of $84.13 and a fifty-two week high of $146.39. The business has a 50 day moving average price of $123.99 and a two-hundred day moving average price of $118.82. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.87. The firm has a market cap of $6.38 billion, a PE ratio of 50.41, a price-to-earnings-growth ratio of 4.42 and a beta of 0.88.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.38. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.97%.The company had revenue of $403.91 million for the quarter, compared to analyst estimates of $349.17 million. During the same period in the prior year, the company posted $0.68 EPS. Ormat Technologies’s quarterly revenue was up 75.8% on a year-over-year basis. Sell-side analysts expect that Ormat Technologies, Inc. will post 2.35 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, May 20th. Ormat Technologies’s dividend payout ratio (DPR) is currently 23.30%.

Insider Activity at Ormat Technologies

In other news, CFO Assi Ginzburg sold 17,776 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $134.75, for a total transaction of $2,395,316.00. Following the transaction, the chief financial officer owned 1,970 shares of the company’s stock, valued at approximately $265,457.50. This trade represents a 90.02% 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 Byron G. Wong sold 4,500 shares of Ormat Technologies stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $134.32, for a total value of $604,440.00. Following the completion of the transaction, the director owned 5,925 shares of the company’s stock, valued at $795,846. This trade represents a 43.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 30,585 shares of company stock worth $4,090,998 over the last 90 days. Company insiders own 0.50% of the company’s stock.

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.