Global Retirement Partners LLC Increases Stock Holdings in Ormat Technologies, Inc. $ORA

Global Retirement Partners LLC lifted its position in Ormat Technologies, Inc. (NYSE:ORA) by 1,995.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,238 shares of the energy company’s stock after buying an additional 4,988 shares during the quarter. Global Retirement Partners LLC’s holdings in Ormat Technologies were worth $579,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AGF Management Ltd. purchased a new stake in shares of Ormat Technologies in the third quarter worth about $9,527,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Ormat Technologies by 155.8% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 886,526 shares of the energy company’s stock worth $97,935,000 after buying an additional 540,000 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Ormat Technologies by 51.7% in the fourth quarter. Jennison Associates LLC now owns 90,753 shares of the energy company’s stock worth $10,025,000 after buying an additional 30,910 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Ormat Technologies by 259.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,830 shares of the energy company’s stock worth $7,935,000 after buying an additional 51,830 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc lifted its holdings in shares of Ormat Technologies by 102.6% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 294,748 shares of the energy company’s stock worth $32,549,000 after buying an additional 149,271 shares in the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ORA shares. Barclays increased their price target on shares of Ormat Technologies from $123.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Robert W. Baird lowered their price target on shares of Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Citigroup increased their price target on shares of Ormat Technologies from $110.00 to $128.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. Royal Bank Of Canada assumed coverage on shares of Ormat Technologies in a research note on Tuesday, March 3rd. They issued an “outperform” rating and a $130.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ormat Technologies in a research note on Tuesday, April 21st. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.18.

Insider Activity

In other Ormat Technologies news, CFO Assi Ginzburg sold 17,776 shares of Ormat Technologies stock in a transaction that occurred on 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 directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michal Marom sold 3,080 shares of Ormat Technologies stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $130.97, for a total transaction of $403,387.60. Following the transaction, the director directly owned 1,766 shares in the company, valued at $231,293.02. This trade represents a 63.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 33,699 shares of company stock valued at $4,410,013. Insiders own 0.56% of the company’s stock.

Ormat Technologies Trading Up 0.3%

Shares of ORA opened at $139.48 on Thursday. The firm’s 50 day simple moving average is $117.62 and its 200 day simple moving average is $115.83. The company has a market capitalization of $8.57 billion, a P/E ratio of 67.71, a P/E/G ratio of 5.93 and a beta of 0.80. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.07 and a quick ratio of 1.02. Ormat Technologies, Inc. has a 1-year low of $71.96 and a 1-year high of $141.62.

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

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 20th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Wednesday, May 20th. Ormat Technologies’s dividend payout ratio (DPR) is currently 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.