Bank of Montreal Can Has $24.64 Million Stock Position in Ormat Technologies, Inc. $ORA

Bank of Montreal Can increased its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 6.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 294,144 shares of the energy company’s stock after buying an additional 17,544 shares during the quarter. Bank of Montreal Can’s holdings in Ormat Technologies were worth $24,638,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of ORA. Curio Wealth LLC grew its holdings in Ormat Technologies by 29,200.0% in the 2nd quarter. Curio Wealth LLC now owns 293 shares of the energy company’s stock valued at $25,000 after buying an additional 292 shares during the last quarter. Signaturefd LLC boosted its position in shares of Ormat Technologies by 60.6% in the first quarter. Signaturefd LLC now owns 890 shares of the energy company’s stock valued at $63,000 after acquiring an additional 336 shares during the period. CWM LLC boosted its position in shares of Ormat Technologies by 294.2% in the first quarter. CWM LLC now owns 887 shares of the energy company’s stock valued at $63,000 after acquiring an additional 662 shares during the period. GAMMA Investing LLC grew its stake in shares of Ormat Technologies by 57.4% in the second quarter. GAMMA Investing LLC now owns 886 shares of the energy company’s stock worth $74,000 after acquiring an additional 323 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Ormat Technologies by 30.7% during the first quarter. Russell Investments Group Ltd. now owns 1,072 shares of the energy company’s stock worth $76,000 after acquiring an additional 252 shares during the period. Institutional investors own 95.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Baird R W raised shares of Ormat Technologies from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 30th. Cowen reaffirmed a “hold” rating on shares of Ormat Technologies in a research report on Wednesday. UBS Group lifted their target price on Ormat Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Roth Capital restated a “buy” rating and set a $125.00 price target on shares of Ormat Technologies in a research note on Wednesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ormat Technologies in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.20.

Ormat Technologies Stock Performance

NYSE ORA opened at $114.80 on Friday. Ormat Technologies, Inc. has a twelve month low of $61.58 and a twelve month high of $115.72. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.77. The stock has a market cap of $6.97 billion, a P/E ratio of 53.40, a PEG ratio of 4.84 and a beta of 0.77. The company’s 50-day simple moving average is $100.08 and its 200 day simple moving average is $88.30.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Monday, November 3rd. The energy company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Ormat Technologies had a return on equity of 5.47% and a net margin of 14.49%.The company had revenue of $249.73 million for the quarter, compared to the consensus estimate of $235.03 million. During the same period in the previous year, the business earned $0.36 earnings per share. The company’s quarterly revenue was up 17.9% on a year-over-year basis. Ormat Technologies has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, November 17th. Ormat Technologies’s dividend payout ratio is 22.02%.

Insider Activity

In related news, CFO Assi Ginzburg sold 9,343 shares of the stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $93.31, for a total transaction of $871,795.33. Following the completion of the sale, the chief financial officer owned 24,482 shares in the company, valued at $2,284,415.42. This trade represents a 27.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stanley Stern sold 876 shares of Ormat Technologies stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $91.98, for a total transaction of $80,574.48. Following the transaction, the director directly owned 5,261 shares of the company’s stock, valued at $483,906.78. This represents a 14.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 40,926 shares of company stock valued at $3,861,296. 0.56% of the stock is owned by company insiders.

Ormat Technologies Company Profile

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.