SG Americas Securities LLC Acquires 27,659 Shares of Ormat Technologies, Inc. $ORA

SG Americas Securities LLC raised its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 549.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 32,690 shares of the energy company’s stock after acquiring an additional 27,659 shares during the period. SG Americas Securities LLC’s holdings in Ormat Technologies were worth $3,611,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in shares of Ormat Technologies by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,866,543 shares of the energy company’s stock worth $179,651,000 after acquiring an additional 22,748 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Ormat Technologies by 62.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock valued at $89,928,000 after acquiring an additional 413,384 shares during the last quarter. Northern Trust Corp lifted its stake in Ormat Technologies by 1.9% in the 3rd quarter. Northern Trust Corp now owns 751,132 shares of the energy company’s stock worth $72,296,000 after purchasing an additional 14,069 shares in the last quarter. Norges Bank purchased a new stake in Ormat Technologies in the 2nd quarter worth $56,458,000. Finally, Legal & General Group Plc boosted its holdings in shares of Ormat Technologies by 2.7% during the 3rd quarter. Legal & General Group Plc now owns 605,478 shares of the energy company’s stock valued at $58,277,000 after purchasing an additional 15,833 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Analyst Upgrades and Downgrades

ORA has been the subject of a number of research analyst reports. Roth Mkm set a $139.00 price objective on Ormat Technologies in a research report on Wednesday, January 28th. Oppenheimer increased their price target on Ormat Technologies from $125.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, January 27th. UBS Group cut their price target on Ormat Technologies from $148.00 to $143.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Barclays lifted their price objective on Ormat Technologies from $108.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Finally, Jefferies Financial Group cut Ormat Technologies from a “buy” rating to a “hold” rating and upped their price objective for the stock from $125.00 to $130.00 in a report on Friday, February 13th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $129.09.

Insider Activity

In other news, insider Jessica Woelfel sold 2,359 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $105.16, for a total value of $248,072.44. Following the completion of the sale, the insider directly owned 3,433 shares of the company’s stock, valued at $361,014.28. This trade represents a 40.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders sold 3,364 shares of company stock valued at $353,621. 0.56% of the stock is owned by company insiders.

Ormat Technologies Stock Performance

Ormat Technologies stock opened at $112.70 on Friday. The company’s 50-day moving average price is $115.54 and its 200-day moving average price is $111.12. Ormat Technologies, Inc. has a twelve month low of $64.39 and a twelve month high of $132.58. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 0.79. The company has a market cap of $6.86 billion, a PE ratio of 56.07, a price-to-earnings-growth ratio of 4.80 and a beta of 0.80.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Wednesday, February 25th. The energy company reported $0.67 EPS for the quarter, meeting analysts’ consensus estimates of $0.67. The firm had revenue of $276.04 million during the quarter, compared to the consensus estimate of $257.75 million. Ormat Technologies had a net margin of 12.52% and a return on equity of 5.21%. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.67 EPS. On average, equities research analysts forecast that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, March 10th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. Ormat Technologies’s dividend payout ratio is 23.88%.

Ormat Technologies Company Profile

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.