Oddo BHF Asset Management Sas Purchases Shares of 5,700 Ormat Technologies, Inc. $ORA

Oddo BHF Asset Management Sas acquired a new position in Ormat Technologies, Inc. (NYSE:ORA) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,700 shares of the energy company’s stock, valued at approximately $638,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ORA. Signaturefd LLC boosted its holdings in 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 buying an additional 86 shares during the period. Quadrant Capital Group LLC raised its holdings in Ormat Technologies by 9.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,153 shares of the energy company’s stock valued at $127,000 after acquiring an additional 99 shares during the period. State of Wyoming raised its holdings in Ormat Technologies by 6.7% during the fourth quarter. State of Wyoming now owns 2,091 shares of the energy company’s stock valued at $231,000 after acquiring an additional 131 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Ormat Technologies by 7.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,167 shares of the energy company’s stock valued at $239,000 after acquiring an additional 144 shares in the last quarter. Finally, Evexia Wealth LLC lifted its position in shares of Ormat Technologies by 2.8% in the first quarter. Evexia Wealth LLC now owns 5,432 shares of the energy company’s stock valued at $610,000 after acquiring an additional 149 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ormat Technologies

In other news, CFO Assi Ginzburg sold 17,776 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $134.75, for a total transaction of $2,395,316.00. Following the sale, the chief financial officer directly owned 1,970 shares of the company’s stock, valued at $265,457.50. This represents a 90.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Byron G. Wong sold 4,500 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $134.32, for a total transaction of $604,440.00. Following the completion of the transaction, the director directly owned 5,925 shares of the company’s stock, valued at approximately $795,846. This trade represents a 43.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 30,585 shares of company stock worth $4,090,998. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Ormat Technologies in a research report on Friday, July 17th. Sanford C. Bernstein started coverage on Ormat Technologies in a report on Tuesday, June 16th. They issued an “underperform” rating and a $115.00 price target on the stock. Barclays upped their price target on Ormat Technologies from $126.00 to $127.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. UBS Group increased their price objective on shares of Ormat Technologies from $143.00 to $152.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Oppenheimer reiterated an “outperform” rating and set a $144.00 price objective on shares of Ormat Technologies in a research report on Friday, May 8th. Eight 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, Ormat Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.75.

Ormat Technologies Trading Up 2.6%

Shares of Ormat Technologies stock opened at $96.78 on Friday. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 46.98, a PEG ratio of 4.02 and a beta of 0.88. The business has a 50-day moving average price of $120.67 and a 200-day moving average price of $118.21. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.87. Ormat Technologies, Inc. has a twelve month low of $84.13 and a twelve month high of $146.39.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Wednesday, May 6th. The energy company reported $1.30 EPS for the quarter, topping 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 the consensus estimate of $349.17 million. During the same period in the previous year, the business earned $0.68 earnings per share. The firm’s revenue for the quarter was up 75.8% on a year-over-year basis. Equities research analysts anticipate that Ormat Technologies, Inc. will post 2.35 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. Ormat Technologies’s payout ratio is presently 23.30%.

Ormat Technologies Company Profile

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.