Intech Investment Management LLC Buys 84,959 Shares of Ormat Technologies, Inc. $ORA

Intech Investment Management LLC boosted its stake in Ormat Technologies, Inc. (NYSE:ORA) by 387.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,877 shares of the energy company’s stock after acquiring an additional 84,959 shares during the period. Intech Investment Management LLC’s holdings in Ormat Technologies were worth $11,807,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Signaturefd LLC boosted its holdings in Ormat Technologies by 13.0% in the fourth quarter. Signaturefd LLC now owns 746 shares of the energy company’s stock valued at $82,000 after acquiring an additional 86 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Ormat Technologies by 43.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock worth $35,000 after buying an additional 113 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Ormat Technologies by 7.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,167 shares of the energy company’s stock worth $239,000 after buying an additional 144 shares in the last quarter. CWM LLC boosted its holdings in shares of Ormat Technologies by 14.2% during the 4th quarter. CWM LLC now owns 1,254 shares of the energy company’s stock worth $139,000 after buying an additional 156 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its holdings in shares of Ormat Technologies by 4.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,803 shares of the energy company’s stock worth $366,000 after buying an additional 158 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Robert W. Baird cut their price target on Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Weiss Ratings restated a “hold (c)” rating on shares of Ormat Technologies in a report on Tuesday, April 21st. Jefferies Financial Group cut Ormat Technologies from a “buy” rating to a “hold” rating and increased their price target for the stock from $125.00 to $130.00 in a report on Friday, February 13th. Piper Sandler increased their price target on Ormat Technologies from $125.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Finally, Royal Bank Of Canada assumed coverage on Ormat Technologies in a report on Tuesday, March 3rd. They set an “outperform” rating and a $130.00 price target on the stock. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $133.18.

Insiders Place Their Bets

In related news, Director Byron G. Wong sold 4,500 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $134.32, for a total value of $604,440.00. Following the completion of the sale, the director directly owned 5,925 shares of the company’s stock, valued at approximately $795,846. This represents a 43.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michal Marom sold 3,080 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $130.97, for a total value of $403,387.60. Following the completion of the sale, the director directly owned 1,766 shares of the company’s stock, valued at $231,293.02. The trade was a 63.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 33,949 shares of company stock worth $4,444,618 in the last three months. 0.56% of the stock is owned by corporate insiders.

Ormat Technologies Price Performance

Shares of NYSE:ORA opened at $136.88 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.87. Ormat Technologies, Inc. has a twelve month low of $73.05 and a twelve month high of $141.62. The stock’s 50 day moving average is $118.80 and its 200-day moving average is $116.15. The firm has a market capitalization of $8.41 billion, a price-to-earnings ratio of 66.45, a PEG ratio of 5.87 and a beta of 0.80.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.38. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.97%.The company had revenue of $403.91 million for the quarter, compared to analyst estimates of $349.17 million. During the same period in the prior year, the firm earned $0.68 earnings per share. Ormat Technologies’s revenue for the quarter was up 75.8% on a year-over-year basis. Sell-side analysts forecast that Ormat Technologies, Inc. will post 2.35 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 20th 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 of this dividend is Wednesday, May 20th. Ormat Technologies’s dividend payout ratio is presently 23.30%.

Ormat Technologies 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.