Deutsche Bank AG Buys New Stake in Ormat Technologies, Inc. $ORA

Deutsche Bank AG purchased a new position in shares of Ormat Technologies, Inc. (NYSE:ORA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 385,812 shares of the energy company’s stock, valued at approximately $42,015,000.

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

Ormat Technologies Stock Up 0.3%

ORA opened at $108.62 on Friday. 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 12 month low of $89.08 and a 12 month high of $146.39. The stock has a market capitalization of $6.68 billion, a P/E ratio of 53.51, a P/E/G ratio of 4.38 and a beta of 0.90. The business has a 50 day simple moving average of $110.90 and a 200-day simple moving average of $116.68.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.24. The firm had revenue of $258.76 million for the quarter, compared to the consensus estimate of $240.03 million. Ormat Technologies had a net margin of 10.66% and a return on equity of 6.61%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.48 earnings per share. On average, equities analysts anticipate that Ormat Technologies, Inc. will post 2.47 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, August 19th. Ormat Technologies’s dividend payout ratio is 23.65%.

Wall Street Analysts Forecast Growth

ORA has been the topic of a number of research reports. Wolfe Research initiated coverage on Ormat Technologies in a research note on Monday, June 8th. They set a “peer perform” rating on the stock. Piper Sandler increased their price objective on Ormat Technologies from $125.00 to $142.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Roth Capital restated a “buy” rating and set a $135.00 target price on shares of Ormat Technologies in a research report on Monday, May 11th. Barclays cut their target price on shares of Ormat Technologies from $127.00 to $122.00 and set an “overweight” rating on the stock in a report on Monday, August 10th. Finally, Wall Street Zen downgraded shares of Ormat Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Eight investment 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’s stock. According to data from MarketBeat.com, Ormat Technologies has a consensus rating of “Moderate Buy” and an average price target of $130.83.

Insider Buying and Selling at Ormat Technologies

In other news, Director Stanley Stern sold 250 shares of the firm’s stock in a transaction that occurred 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 transaction, the director directly owned 5,800 shares of the company’s stock, valued at $802,836. This trade represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by company insiders.

About Ormat Technologies

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.