Rhumbline Advisers Buys 6,693 Shares of Ormat Technologies, Inc. $ORA

Rhumbline Advisers increased its stake in Ormat Technologies, Inc. (NYSE:ORA) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 196,323 shares of the energy company’s stock after buying an additional 6,693 shares during the period. Rhumbline Advisers’ holdings in Ormat Technologies were worth $16,444,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ORA. PNC Financial Services Group Inc. boosted its holdings in Ormat Technologies by 9.8% in the second quarter. PNC Financial Services Group Inc. now owns 1,609 shares of the energy company’s stock worth $135,000 after acquiring an additional 144 shares in the last quarter. Creative Planning boosted its stake in Ormat Technologies by 1.2% in the 2nd quarter. Creative Planning now owns 13,526 shares of the energy company’s stock worth $1,133,000 after purchasing an additional 159 shares in the last quarter. UMB Bank n.a. boosted its stake in Ormat Technologies by 20.3% in the 2nd quarter. UMB Bank n.a. now owns 1,059 shares of the energy company’s stock worth $89,000 after purchasing an additional 179 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Ormat Technologies by 0.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 25,166 shares of the energy company’s stock valued at $2,108,000 after purchasing an additional 193 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in Ormat Technologies by 6.3% during the 1st quarter. Mackenzie Financial Corp now owns 3,687 shares of the energy company’s stock valued at $261,000 after purchasing an additional 220 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Price Performance

NYSE ORA opened at $112.91 on Friday. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of 52.52, a PEG ratio of 4.84 and a beta of 0.77. Ormat Technologies, Inc. has a 1-year low of $61.58 and a 1-year high of $115.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.64. The business’s fifty day moving average price is $106.19 and its 200-day moving average price is $92.52.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Monday, November 3rd. The energy company reported $0.41 EPS 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 during the quarter, compared to analysts’ expectations of $235.03 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. Ormat Technologies’s revenue for the quarter was up 17.9% compared to the same quarter last year. Ormat Technologies has set its FY 2025 guidance at EPS. On average, equities analysts predict that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of Ormat Technologies from $95.00 to $100.00 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. Oppenheimer reiterated an “outperform” rating and set a $125.00 target price on shares of Ormat Technologies in a research note on Wednesday, November 5th. Cowen restated a “hold” rating on shares of Ormat Technologies in a research note on Wednesday, November 5th. Barclays increased their price objective on Ormat Technologies from $89.00 to $118.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Finally, UBS Group lifted their price objective on Ormat Technologies from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Ormat Technologies presently has an average rating of “Moderate Buy” and an average target price of $116.00.

Insider Activity at Ormat Technologies

In other Ormat Technologies news, Director Ravit Barniv sold 1,753 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $112.54, for a total transaction of $197,282.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dafna Sharir sold 981 shares of Ormat Technologies stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $96.70, for a total transaction of $94,862.70. Following the transaction, the director owned 2,257 shares in the company, valued at $218,251.90. This represents a 30.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 72,418 shares of company stock valued at $7,580,300 in the last three months. Corporate insiders own 0.56% of the company’s stock.

Ormat Technologies 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.