Evexia Wealth LLC Raises Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

Evexia Wealth LLC grew its stake in Ormat Technologies, Inc. (NYSE:ORA) by 2.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,096 shares of the energy company’s stock after purchasing an additional 160 shares during the quarter. Evexia Wealth LLC’s holdings in Ormat Technologies were worth $462,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. boosted its position in Ormat Technologies by 12,165.8% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 691,298 shares of the energy company’s stock valued at $48,336,000 after acquiring an additional 685,662 shares in the last quarter. Impax Asset Management Group plc raised its holdings in Ormat Technologies by 15.0% in the fourth quarter. Impax Asset Management Group plc now owns 2,638,182 shares of the energy company’s stock worth $199,004,000 after purchasing an additional 343,650 shares in the last quarter. Van Berkom & Associates Inc. boosted its holdings in shares of Ormat Technologies by 32.0% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,035,686 shares of the energy company’s stock valued at $72,415,000 after buying an additional 250,884 shares in the last quarter. Global Alpha Capital Management Ltd. lifted its position in Ormat Technologies by 6.4% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 2,117,339 shares of the energy company’s stock valued at $149,232,000 after acquiring an additional 127,149 shares during the period. Finally, LGT Capital Partners LTD. lifted its position in Ormat Technologies by 26.6% during the 4th quarter. LGT Capital Partners LTD. now owns 524,710 shares of the energy company’s stock valued at $39,768,000 after acquiring an additional 110,330 shares during the period. Institutional investors own 95.49% of the company’s stock.

Insider Activity

In related news, Director Stanley Stern sold 1,825 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $66.95, for a total transaction of $122,183.75. Following the completion of the sale, the director now owns 4,835 shares in the company, valued at $323,703.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ORA. Barclays decreased their target price on shares of Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating for the company in a research note on Monday, February 5th. Oppenheimer lowered their price objective on Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating for the company in a research note on Friday, January 19th. Finally, TD Cowen cut their target price on Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating on the stock in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Ormat Technologies currently has an average rating of “Hold” and a consensus target price of $81.00.

Ormat Technologies Stock Performance

Shares of NYSE:ORA traded up $0.43 during midday trading on Tuesday, reaching $68.07. 589,854 shares of the company’s stock traded hands, compared to its average volume of 475,514. Ormat Technologies, Inc. has a one year low of $58.73 and a one year high of $88.26. The stock has a 50 day moving average of $64.99 and a 200 day moving average of $66.89. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 32.57, a P/E/G ratio of 3.16 and a beta of 0.48. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.20.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. The firm had revenue of $241.30 million for the quarter, compared to the consensus estimate of $239.71 million. During the same quarter last year, the firm posted $0.73 EPS. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Ormat Technologies, Inc. will post 2.14 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.48 dividend on an annualized basis and a yield of 0.71%. Ormat Technologies’s dividend payout ratio is presently 22.97%.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.