Mendota Financial Group LLC Makes New Investment in Ormat Technologies, Inc. (NYSE:ORA)

Mendota Financial Group LLC purchased a new stake in Ormat Technologies, Inc. (NYSE:ORA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,447 shares of the energy company’s stock, valued at approximately $98,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in shares of Ormat Technologies by 31.4% during the 2nd quarter. Victory Capital Management Inc. now owns 18,901 shares of the energy company’s stock worth $1,355,000 after purchasing an additional 4,512 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Ormat Technologies by 8.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 31,238 shares of the energy company’s stock worth $2,240,000 after purchasing an additional 2,482 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Ormat Technologies by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company’s stock worth $104,030,000 after purchasing an additional 86,291 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in Ormat Technologies during the second quarter valued at about $317,000. Finally, Sei Investments Co. raised its holdings in Ormat Technologies by 10.6% in the 2nd quarter. Sei Investments Co. now owns 19,019 shares of the energy company’s stock valued at $1,364,000 after acquiring an additional 1,822 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, major shareholder Corp Orix sold 3,700,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $75.38, for a total value of $278,906,000.00. Following the sale, the insider now owns 2,976,077 shares in the company, valued at approximately $224,336,684.26. The trade was a 55.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David Granot sold 1,256 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $82.00, for a total value of $102,992.00. Following the transaction, the director now owns 3,576 shares of the company’s stock, valued at $293,232. This trade represents a 25.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Ormat Technologies Stock Performance

Shares of ORA stock opened at $66.52 on Tuesday. The company has a fifty day moving average price of $75.55 and a two-hundred day moving average price of $75.21. The stock has a market cap of $4.02 billion, a P/E ratio of 33.94, a P/E/G ratio of 3.75 and a beta of 0.57. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. Ormat Technologies, Inc. has a one year low of $59.41 and a one year high of $84.30.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings results on Wednesday, November 6th. The energy company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The business had revenue of $211.80 million for the quarter, compared to analyst estimates of $215.53 million. During the same period last year, the firm earned $0.47 earnings per share. Ormat Technologies’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, equities analysts predict that Ormat Technologies, Inc. will post 1.93 EPS for the current year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Wednesday, November 20th. Ormat Technologies’s dividend payout ratio (DPR) is presently 24.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Oppenheimer increased their target price on shares of Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Piper Sandler assumed coverage on shares of Ormat Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $78.00 target price on the stock. Roth Mkm restated a “buy” rating and issued a $92.00 price target (up from $87.00) on shares of Ormat Technologies in a research report on Friday, November 8th. Finally, Jefferies Financial Group initiated coverage on Ormat Technologies in a report on Friday. They set a “hold” rating and a $73.00 target price on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $82.25.

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.