Global Retirement Partners LLC Takes $601,000 Position in Ormat Technologies, Inc. $ORA

Global Retirement Partners LLC acquired a new stake in Ormat Technologies, Inc. (NYSE:ORA) in the second quarter, Holdings Channel reports. The firm acquired 5,519 shares of the energy company’s stock, valued at approximately $601,000.

Other large investors have also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA lifted its holdings in Ormat Technologies by 3.4% during the 1st quarter. Glenmede Trust Co. NA now owns 2,452 shares of the energy company’s stock worth $274,000 after buying an additional 81 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Ormat Technologies by 9.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,153 shares of the energy company’s stock worth $127,000 after acquiring an additional 99 shares in the last quarter. State of Wyoming increased its position in shares of Ormat Technologies by 6.7% during the fourth quarter. State of Wyoming now owns 2,091 shares of the energy company’s stock worth $231,000 after acquiring an additional 131 shares during the period. PNC Financial Services Group Inc. grew its stake in Ormat Technologies by 7.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,167 shares of the energy company’s stock worth $239,000 after purchasing an additional 144 shares in the last quarter. Finally, Evexia Wealth LLC grew its stake in Ormat Technologies by 2.8% during the 1st quarter. Evexia Wealth LLC now owns 5,432 shares of the energy company’s stock worth $610,000 after purchasing an additional 149 shares in the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Ormat Technologies Stock Performance

NYSE ORA opened at $109.82 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.05 and a quick ratio of 1.00. Ormat Technologies, Inc. has a 1 year low of $89.08 and a 1 year high of $146.39. The company has a market capitalization of $6.75 billion, a PE ratio of 54.10, a P/E/G ratio of 4.55 and a beta of 0.90. The company has a fifty day moving average of $112.60 and a two-hundred day moving average of $116.98.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Wednesday, August 5th. The energy company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.24. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.66%.The business had revenue of $258.76 million for the quarter, compared to analysts’ expectations of $240.03 million. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The business’s revenue was up 10.6% compared to the same quarter last year. As a group, analysts expect that Ormat Technologies, Inc. will post 2.52 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, September 2nd. Investors of record on Wednesday, August 19th will be given a $0.12 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.48 annualized dividend and a yield of 0.4%. Ormat Technologies’s dividend payout ratio is 23.65%.

Insider Buying and Selling at Ormat Technologies

In related news, Director Stanley Stern sold 250 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $138.42, for a total transaction of $34,605.00. Following the completion of the sale, the director owned 5,800 shares in the company, valued at $802,836. This represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Granot sold 1,766 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $134.43, for a total transaction of $237,403.38. Following the transaction, the director directly owned 1,766 shares in the company, valued at $237,403.38. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ORA shares. UBS Group increased their price target on Ormat Technologies from $143.00 to $152.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Piper Sandler upped their target price on shares of Ormat Technologies from $125.00 to $142.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Wall Street Zen cut shares of Ormat Technologies from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Roth Capital reiterated a “buy” rating and set a $135.00 price target on shares of Ormat Technologies in a report on Monday, May 11th. Finally, Oppenheimer dropped their price objective on shares of Ormat Technologies from $144.00 to $141.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $130.83.

Ormat Technologies Company 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.