Ormat Technologies, Inc. $ORA Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets grew its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 23.4% during the fourth quarter, Holdings Channel reports. The firm owned 91,860 shares of the energy company’s stock after acquiring an additional 17,447 shares during the quarter. BNP Paribas Financial Markets’ holdings in Ormat Technologies were worth $10,148,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Signaturefd LLC raised its holdings in shares of Ormat Technologies by 13.0% during the fourth quarter. Signaturefd LLC now owns 746 shares of the energy company’s stock worth $82,000 after purchasing an additional 86 shares during the period. Jones Financial Companies Lllp grew its position in shares of Ormat Technologies by 43.8% during the third quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock worth $35,000 after acquiring an additional 113 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Ormat Technologies by 7.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,167 shares of the energy company’s stock worth $239,000 after acquiring an additional 144 shares during the last quarter. CWM LLC grew its position in shares of Ormat Technologies by 14.2% during the fourth quarter. CWM LLC now owns 1,254 shares of the energy company’s stock worth $139,000 after acquiring an additional 156 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its position in shares of Ormat Technologies by 4.3% during the third quarter. Crossmark Global Holdings Inc. now owns 3,803 shares of the energy company’s stock worth $366,000 after acquiring an additional 158 shares during the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Royal Bank Of Canada assumed coverage on shares of Ormat Technologies in a research report on Tuesday, March 3rd. They set an “outperform” rating and a $130.00 price target for the company. Oppenheimer restated an “outperform” rating and set a $144.00 price target on shares of Ormat Technologies in a research report on Friday, May 8th. Jefferies Financial Group lowered shares of Ormat Technologies from a “buy” rating to a “hold” rating and upped their price target for the stock from $125.00 to $130.00 in a research report on Friday, February 13th. Robert W. Baird lowered their price target on shares of Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Finally, UBS Group upped their price target on shares of Ormat Technologies from $143.00 to $152.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.18.

Ormat Technologies Stock Down 2.8%

Ormat Technologies stock opened at $136.12 on Tuesday. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 66.08, a PEG ratio of 5.97 and a beta of 0.85. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.87. The company’s 50-day moving average price is $122.54 and its two-hundred day moving average price is $117.50. Ormat Technologies, Inc. has a 52 week low of $77.47 and a 52 week high of $146.39.

Ormat Technologies (NYSE:ORA) last released its earnings results on Wednesday, May 6th. The energy company reported $1.30 EPS for the quarter, beating the consensus estimate of $0.92 by $0.38. The firm had revenue of $403.91 million for the quarter, compared to analysts’ expectations 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 quarter last year, the company earned $0.68 EPS. On average, analysts expect that Ormat Technologies, Inc. will post 2.35 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $0.48 annualized dividend and a yield of 0.4%. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.30%.

Insider Activity

In other Ormat Technologies news, Director Byron G. Wong sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $134.32, for a total transaction of $604,440.00. Following the transaction, the director owned 5,925 shares of the company’s stock, valued at approximately $795,846. This trade represents a 43.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Granot sold 1,766 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $134.43, for a total transaction of $237,403.38. Following the transaction, the director owned 1,766 shares of the company’s stock, valued at approximately $237,403.38. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,721 shares of company stock worth $4,105,657 in the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

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.