Hsbc Holdings PLC Buys 38,399 Shares of Ormat Technologies, Inc. $ORA

Hsbc Holdings PLC grew its stake in Ormat Technologies, Inc. (NYSE:ORA) by 459.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 46,763 shares of the energy company’s stock after buying an additional 38,399 shares during the period. Hsbc Holdings PLC’s holdings in Ormat Technologies were worth $5,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Signaturefd LLC raised its stake in shares of 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. Quadrant Capital Group LLC grew its position in Ormat Technologies by 9.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,153 shares of the energy company’s stock worth $127,000 after acquiring an additional 99 shares during the last quarter. State of Wyoming increased its holdings in Ormat Technologies by 6.7% during the 4th quarter. State of Wyoming now owns 2,091 shares of the energy company’s stock valued at $231,000 after purchasing an additional 131 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in 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 valued at $239,000 after purchasing an additional 144 shares in the last quarter. Finally, CWM LLC raised its position in Ormat Technologies by 14.2% in the 4th quarter. CWM LLC now owns 1,254 shares of the energy company’s stock valued at $139,000 after purchasing an additional 156 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Price Performance

Shares of ORA stock opened at $110.54 on Friday. The firm has a market cap of $6.79 billion, a price-to-earnings ratio of 53.66, a PEG ratio of 4.74 and a beta of 0.88. Ormat Technologies, Inc. has a 12 month low of $84.13 and a 12 month high of $146.39. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.87. The stock has a 50-day moving average price of $127.17 and a 200 day moving average price of $119.29.

Ormat Technologies (NYSE:ORA) last released its earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.38. The company had revenue of $403.91 million for the quarter, compared to the consensus estimate of $349.17 million. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The company’s revenue was up 75.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 EPS. Research analysts expect that Ormat Technologies, Inc. will post 2.35 EPS for the current year.

Ormat Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 20th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, May 20th. Ormat Technologies’s dividend payout ratio is currently 23.30%.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, CFO Assi Ginzburg sold 17,776 shares of Ormat Technologies stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $134.75, for a total transaction of $2,395,316.00. Following the completion of the sale, the chief financial officer owned 1,970 shares of the company’s stock, valued at approximately $265,457.50. The trade was a 90.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Granot sold 1,766 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $134.43, for a total transaction of $237,403.38. Following the sale, the director owned 1,766 shares of the company’s stock, valued at $237,403.38. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 30,585 shares of company stock valued at $4,090,998. 0.56% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Piper Sandler boosted their price objective on Ormat Technologies from $125.00 to $142.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. JPMorgan Chase & Co. lifted their price target on Ormat Technologies from $106.00 to $123.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Oppenheimer reiterated an “outperform” rating and set a $144.00 price target on shares of Ormat Technologies in a research report on Friday, May 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Ormat Technologies in a report on Tuesday, April 21st. Finally, Roth Capital restated a “buy” rating and issued a $135.00 price objective on shares of Ormat Technologies in a research report on Monday, May 11th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.67.

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.