Ormat Technologies, Inc. $ORA Shares Sold by Mizuho Markets Americas LLC

Mizuho Markets Americas LLC reduced its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 19.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 140,481 shares of the energy company’s stock after selling 34,841 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Ormat Technologies were worth $15,519,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wolff Wiese Magana LLC acquired a new stake in shares of Ormat Technologies during the 4th quarter valued at approximately $33,000. Jones Financial Companies Lllp raised its position in shares of Ormat Technologies by 43.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock valued at $35,000 after acquiring an additional 113 shares in the last quarter. Ameriflex Group Inc. grew its stake in Ormat Technologies by 1,100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 360 shares of the energy company’s stock worth $35,000 after buying an additional 330 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Ormat Technologies by 251.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company’s stock worth $44,000 after buying an additional 374 shares during the last quarter. Finally, USA Financial Formulas bought a new position in Ormat Technologies during the 4th quarter worth $51,000. 95.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director David Granot sold 1,766 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $134.43, for a total value of $237,403.38. Following the completion of the transaction, the director owned 1,766 shares of the company’s stock, valued at approximately $237,403.38. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jessica Woelfel sold 2,359 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $105.16, for a total value of $248,072.44. Following the completion of the transaction, the insider directly owned 3,433 shares of the company’s stock, valued at approximately $361,014.28. The trade was a 40.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 33,699 shares of company stock valued at $4,410,013. Company insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on ORA shares. Citigroup upped their price objective on Ormat Technologies from $110.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Barclays upped their price objective on Ormat Technologies from $123.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. upped their price objective on Ormat Technologies from $106.00 to $123.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Jefferies Financial Group downgraded Ormat Technologies from a “buy” rating to a “hold” rating and upped their price objective for the stock from $125.00 to $130.00 in a research note on Friday, February 13th. Finally, Piper Sandler upped their price objective on Ormat Technologies from $125.00 to $142.00 and gave the stock an “overweight” rating in a research note on Monday. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.18.

Ormat Technologies Trading Down 0.5%

NYSE:ORA opened at $133.28 on Friday. Ormat Technologies, Inc. has a 1 year low of $70.60 and a 1 year high of $138.51. The stock has a market cap of $8.19 billion, a price-to-earnings ratio of 64.70, a PEG ratio of 5.71 and a beta of 0.80. The business has a fifty day moving average of $115.98 and a 200-day moving average of $115.26. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.07.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.38. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.97%.The company had revenue of $403.91 million during the quarter, compared to analysts’ expectations of $349.17 million. During the same quarter in the prior year, the business posted $0.68 earnings per share. The company’s revenue for the quarter was up 75.8% compared to the same quarter last year. Equities analysts predict that Ormat Technologies, Inc. will post 2.35 earnings per share for the current year.

Ormat Technologies Announces Dividend

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

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.