Ormat Technologies, Inc. (NYSE:ORA) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its holdings in Ormat Technologies, Inc. (NYSE:ORAFree Report) by 50.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,540 shares of the energy company’s stock after purchasing an additional 514 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ormat Technologies were worth $117,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Evexia Wealth LLC boosted its holdings in shares of Ormat Technologies by 2.7% in the fourth quarter. Evexia Wealth LLC now owns 6,096 shares of the energy company’s stock valued at $462,000 after acquiring an additional 160 shares during the period. Harrington Investments INC boosted its holdings in shares of Ormat Technologies by 3.2% in the fourth quarter. Harrington Investments INC now owns 6,510 shares of the energy company’s stock valued at $493,000 after acquiring an additional 200 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Ormat Technologies by 5.1% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 5,014 shares of the energy company’s stock worth $380,000 after purchasing an additional 242 shares during the period. TFO Wealth Partners LLC lifted its holdings in shares of Ormat Technologies by 9,066.7% during the fourth quarter. TFO Wealth Partners LLC now owns 275 shares of the energy company’s stock worth $227,000 after purchasing an additional 272 shares during the period. Finally, Retirement Systems of Alabama lifted its holdings in shares of Ormat Technologies by 0.5% during the fourth quarter. Retirement Systems of Alabama now owns 67,276 shares of the energy company’s stock worth $5,099,000 after purchasing an additional 312 shares during the period. 95.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ORA shares. Oppenheimer increased their price target on Ormat Technologies from $83.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. UBS Group increased their price target on Ormat Technologies from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. TD Cowen increased their price target on Ormat Technologies from $70.00 to $76.00 and gave the stock a “hold” rating in a report on Friday, May 10th. Finally, Barclays decreased their price target on Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating for the company in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $84.17.

Get Our Latest Analysis on Ormat Technologies

Insider Activity

In other news, Director David Granot sold 686 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $73.46, for a total value of $50,393.56. Following the completion of the transaction, the director now owns 4,832 shares in the company, valued at $354,958.72. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.46% of the company’s stock.

Ormat Technologies Trading Up 0.5 %

NYSE:ORA opened at $70.80 on Friday. The stock has a fifty day moving average price of $71.87 and a two-hundred day moving average price of $68.79. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 31.89, a PEG ratio of 3.39 and a beta of 0.51. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.02 and a current ratio of 1.12. Ormat Technologies, Inc. has a 1 year low of $58.73 and a 1 year high of $85.82.

Ormat Technologies (NYSE:ORAGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The energy company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.03). Ormat Technologies had a net margin of 15.43% and a return on equity of 5.45%. The firm had revenue of $224.17 million during the quarter, compared to analysts’ expectations of $224.38 million. As a group, sell-side analysts anticipate that Ormat Technologies, Inc. will post 2.08 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Tuesday, May 21st. Ormat Technologies’s dividend payout ratio is currently 21.62%.

Ormat Technologies Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Ormat Technologies (NYSE:ORA)

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