Ormat Technologies, Inc. (NYSE:ORA) Shares Purchased by AXS Investments LLC

AXS Investments LLC grew its position in Ormat Technologies, Inc. (NYSE:ORA) by 13.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,556 shares of the energy company’s stock after buying an additional 2,149 shares during the period. AXS Investments LLC’s holdings in Ormat Technologies were worth $1,406,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ORA. GAMMA Investing LLC purchased a new stake in Ormat Technologies in the 4th quarter valued at about $32,000. Manchester Capital Management LLC lifted its stake in Ormat Technologies by 593.0% during the 4th quarter. Manchester Capital Management LLC now owns 797 shares of the energy company’s stock worth $60,000 after acquiring an additional 682 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in Ormat Technologies during the 3rd quarter valued at about $204,000. Allspring Global Investments Holdings LLC grew its position in Ormat Technologies by 56.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,186 shares of the energy company’s stock valued at $223,000 after acquiring an additional 1,153 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC purchased a new stake in Ormat Technologies during the fourth quarter worth about $257,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Stock Performance

ORA traded up $1.34 on Friday, reaching $73.89. The company had a trading volume of 106,592 shares, compared to its average volume of 467,244. The stock has a 50-day moving average price of $66.42 and a 200-day moving average price of $67.54. The stock has a market capitalization of $4.46 billion, a PE ratio of 33.09, a P/E/G ratio of 3.54 and a beta of 0.48. Ormat Technologies, Inc. has a 1 year low of $58.73 and a 1 year high of $88.26. The company has a quick ratio of 1.02, a current ratio of 1.12 and a debt-to-equity ratio of 0.73.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.60 by $0.07. Ormat Technologies had a net margin of 15.43% and a return on equity of 5.45%. The firm had revenue of $241.30 million during the quarter, compared to the consensus estimate of $239.71 million. During the same quarter in the prior year, the firm earned $0.73 EPS. Ormat Technologies’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, research analysts forecast that Ormat Technologies, Inc. will post 2.07 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $0.48 dividend on an annualized basis and a yield of 0.65%. Ormat Technologies’s payout ratio is 21.62%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ORA shares. UBS Group increased their target price on shares of Ormat Technologies from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Barclays reduced their price objective on Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Monday, May 13th. Finally, TD Cowen upped their price target on Ormat Technologies from $70.00 to $76.00 and gave the stock a “hold” rating in a report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $84.29.

Insider Buying and Selling at Ormat Technologies

In other news, Director Stanley Stern sold 1,825 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $66.95, for a total transaction of $122,183.75. Following the completion of the sale, the director now owns 4,835 shares in the company, valued at $323,703.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

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.