Cwm LLC Has $63,000 Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

Cwm LLC raised its position in Ormat Technologies, Inc. (NYSE:ORA) by 294.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 887 shares of the energy company’s stock after purchasing an additional 662 shares during the quarter. Cwm LLC’s holdings in Ormat Technologies were worth $63,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Stuart Chaussee & Associates Inc. bought a new stake in shares of Ormat Technologies in the 4th quarter valued at approximately $34,000. UMB Bank n.a. grew its position in Ormat Technologies by 42.6% in the first quarter. UMB Bank n.a. now owns 880 shares of the energy company’s stock worth $62,000 after acquiring an additional 263 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Ormat Technologies during the 4th quarter worth $66,000. Sterling Capital Management LLC raised its holdings in shares of Ormat Technologies by 897.8% during the 4th quarter. Sterling Capital Management LLC now owns 1,856 shares of the energy company’s stock valued at $126,000 after purchasing an additional 1,670 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Ormat Technologies in the 4th quarter valued at $204,000. 95.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on ORA shares. Robert W. Baird raised shares of Ormat Technologies from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $87.00 to $103.00 in a research report on Wednesday. UBS Group increased their price objective on Ormat Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Baird R W upgraded Ormat Technologies from a “hold” rating to a “strong-buy” rating in a report on Wednesday. JPMorgan Chase & Co. upped their target price on Ormat Technologies from $75.00 to $85.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Finally, Barclays increased their price target on Ormat Technologies from $86.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $91.25.

Ormat Technologies Stock Performance

ORA opened at $88.71 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.77. The stock’s 50 day moving average price is $83.53 and its two-hundred day moving average price is $74.25. The firm has a market capitalization of $5.38 billion, a P/E ratio of 43.06, a price-to-earnings-growth ratio of 4.31 and a beta of 0.68. Ormat Technologies, Inc. has a 12-month low of $61.58 and a 12-month high of $91.81.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.10. Ormat Technologies had a net margin of 14.18% and a return on equity of 5.35%. The business had revenue of $229.76 million for the quarter, compared to the consensus estimate of $228.33 million. During the same quarter last year, the company posted $0.64 earnings per share. Ormat Technologies’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities analysts forecast that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 21st were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, May 21st. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. Ormat Technologies’s payout ratio is presently 23.30%.

Insider Activity at Ormat Technologies

In related news, Director Stanley Stern sold 547 shares of the business’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $85.54, for a total transaction of $46,790.38. Following the transaction, the director directly owned 6,137 shares in the company, valued at $524,958.98. The trade was a 8.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michal Marom sold 895 shares of the company’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $73.47, for a total value of $65,755.65. Following the completion of the transaction, the director directly owned 3,080 shares of the company’s stock, valued at approximately $226,287.60. This trade represents a 22.52% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,329 shares of company stock worth $423,443. 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.