Kestra Private Wealth Services LLC Makes New Investment in Ormat Technologies, Inc. $ORA

Kestra Private Wealth Services LLC bought a new position in shares of Ormat Technologies, Inc. (NYSE:ORA) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,946 shares of the energy company’s stock, valued at approximately $665,000.

Several other hedge funds have also modified their holdings of ORA. AQR Capital Management LLC grew its holdings in Ormat Technologies by 324.1% during the first quarter. AQR Capital Management LLC now owns 24,918 shares of the energy company’s stock worth $1,740,000 after acquiring an additional 19,043 shares during the period. United Services Automobile Association acquired a new stake in Ormat Technologies in the first quarter valued at $243,000. Empowered Funds LLC boosted its position in shares of Ormat Technologies by 7.3% during the 1st quarter. Empowered Funds LLC now owns 4,201 shares of the energy company’s stock worth $297,000 after purchasing an additional 286 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Ormat Technologies by 22.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 234,467 shares of the energy company’s stock worth $16,593,000 after purchasing an additional 43,483 shares in the last quarter. Finally, Intech Investment Management LLC grew its stake in shares of Ormat Technologies by 10.5% during the 1st quarter. Intech Investment Management LLC now owns 24,592 shares of the energy company’s stock worth $1,740,000 after purchasing an additional 2,329 shares during the period. 95.49% of the stock is owned by institutional investors and hedge funds.

Ormat Technologies Trading Up 1.1%

NYSE:ORA opened at $112.18 on Friday. The company has a market capitalization of $6.89 billion, a PE ratio of 54.46, a price-to-earnings-growth ratio of 4.73 and a beta of 0.88. 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 52-week low of $84.13 and a 52-week high of $146.39. The stock has a fifty day simple moving average of $127.26 and a 200-day simple moving average of $119.27.

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

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 20th were given a $0.12 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. Ormat Technologies’s dividend payout ratio is currently 23.30%.

Insider Buying and Selling at Ormat Technologies

In related news, Director Dafna Sharir sold 883 shares of Ormat Technologies stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $122.44, for a total transaction of $108,114.52. Following the completion of the transaction, the director directly owned 3,140 shares in the company, valued at $384,461.60. The trade was a 21.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Byron G. Wong sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $134.32, for a total value of $604,440.00. Following the completion of the sale, the director directly owned 5,925 shares in the company, valued at approximately $795,846. The trade was a 43.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 30,585 shares of company stock worth $4,090,998. 0.56% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ORA shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Ormat Technologies in a report on Tuesday, April 21st. Oppenheimer reissued an “outperform” rating and set a $144.00 price objective on shares of Ormat Technologies in a report on Friday, May 8th. Barclays upped their target price on shares of Ormat Technologies from $123.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. UBS Group lifted their price target on shares of Ormat Technologies from $143.00 to $152.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Roth Mkm reissued a “buy” rating and set a $135.00 price target on shares of Ormat Technologies in a research note on Monday, May 11th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Ormat Technologies presently has an average rating of “Moderate Buy” and an average target price of $131.67.

Ormat Technologies 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.