Jefferies Financial Group Inc. Has $846,000 Position in Ormat Technologies, Inc. $ORA

Jefferies Financial Group Inc. lowered its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 99.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,786 shares of the energy company’s stock after selling 1,925,952 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Ormat Technologies were worth $846,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. RWC Asset Management LLP boosted its holdings in Ormat Technologies by 8.8% during the third quarter. RWC Asset Management LLP now owns 136,101 shares of the energy company’s stock valued at $13,100,000 after purchasing an additional 11,063 shares in the last quarter. Retirement Systems of Alabama raised its holdings in shares of Ormat Technologies by 169.7% in the 3rd quarter. Retirement Systems of Alabama now owns 189,988 shares of the energy company’s stock worth $18,286,000 after buying an additional 119,552 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Ormat Technologies in the 3rd quarter worth approximately $3,738,000. AGF Management Ltd. bought a new position in shares of Ormat Technologies during the 3rd quarter worth approximately $9,527,000. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Ormat Technologies during the 3rd quarter worth approximately $14,005,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Insider Buying and Selling

In other Ormat Technologies news, insider Jessica Woelfel sold 2,359 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $105.16, for a total transaction of $248,072.44. Following the sale, the insider owned 3,433 shares of the company’s stock, valued at $361,014.28. This represents a 40.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by corporate insiders.

Ormat Technologies Trading Up 1.6%

ORA stock opened at $110.14 on Friday. The business has a fifty day moving average price of $117.76 and a 200 day moving average price of $109.17. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.81 and a quick ratio of 0.75. Ormat Technologies, Inc. has a fifty-two week low of $64.39 and a fifty-two week high of $132.58. The stock has a market capitalization of $6.70 billion, a price-to-earnings ratio of 54.79, a P/E/G ratio of 4.58 and a beta of 0.84.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Wednesday, February 25th. The energy company reported $0.67 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. Ormat Technologies had a return on equity of 5.21% and a net margin of 12.52%.The company had revenue of $276.04 million for the quarter, compared to analyst estimates of $257.75 million. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The business’s revenue was up 19.6% on a year-over-year basis. Analysts expect that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, March 10th. This represents a $0.48 annualized dividend and a yield of 0.4%. Ormat Technologies’s dividend payout ratio is 23.88%.

Analyst Ratings Changes

A number of analysts have weighed in on ORA shares. Citigroup upped their price target on Ormat Technologies from $110.00 to $128.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. TD Cowen cut their price objective on Ormat Technologies from $131.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 27th. Royal Bank Of Canada initiated 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ormat Technologies in a report on Thursday, January 22nd. Finally, Piper Sandler increased their target price on shares of Ormat Technologies from $102.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.09.

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.