UMB Bank n.a. Boosts Stock Position in Ormat Technologies, Inc. $ORA

UMB Bank n.a. lifted its position in Ormat Technologies, Inc. (NYSE:ORA) by 20.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,059 shares of the energy company’s stock after purchasing an additional 179 shares during the quarter. UMB Bank n.a.’s holdings in Ormat Technologies were worth $89,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ORA. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Ormat Technologies by 273,109.4% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 956,233 shares of the energy company’s stock worth $67,673,000 after purchasing an additional 955,883 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Ormat Technologies by 7,951.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 660,255 shares of the energy company’s stock worth $46,726,000 after purchasing an additional 652,055 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Ormat Technologies by 19.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,890,235 shares of the energy company’s stock valued at $133,770,000 after acquiring an additional 303,756 shares during the last quarter. Nuveen LLC bought a new stake in shares of Ormat Technologies in the 1st quarter valued at about $14,453,000. Finally, Handelsbanken Fonder AB lifted its stake in shares of Ormat Technologies by 66.3% in the 1st quarter. Handelsbanken Fonder AB now owns 259,258 shares of the energy company’s stock valued at $18,348,000 after acquiring an additional 103,352 shares during the last quarter. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Ormat Technologies Stock Up 0.9%

Shares of NYSE:ORA opened at $93.72 on Friday. Ormat Technologies, Inc. has a 52-week low of $61.58 and a 52-week high of $95.36. The firm has a market capitalization of $5.69 billion, a P/E ratio of 43.59, a P/E/G ratio of 4.32 and a beta of 0.69. The stock has a 50 day moving average price of $90.63 and a 200-day moving average price of $80.92. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.64 and a current ratio of 0.70.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Wednesday, August 6th. The energy company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.11. Ormat Technologies had a return on equity of 5.47% and a net margin of 14.49%.The firm had revenue of $234.02 million during the quarter, compared to analyst estimates of $225.26 million. During the same quarter in the prior year, the company earned $0.37 EPS. The business’s revenue was up 9.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. Ormat Technologies’s dividend payout ratio is currently 22.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Baird R W raised Ormat Technologies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 30th. TD Cowen boosted their target price on Ormat Technologies from $76.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, August 8th. Robert W. Baird raised Ormat Technologies from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $87.00 to $103.00 in a research note on Wednesday, July 30th. JPMorgan Chase & Co. boosted their target price on Ormat Technologies from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Finally, UBS Group boosted their target price on Ormat Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.50.

Insider Transactions at Ormat Technologies

In related news, CFO Assi Ginzburg sold 9,343 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $93.31, for a total value of $871,795.33. Following the sale, the chief financial officer owned 24,482 shares in the company, valued at $2,284,415.42. This represents a 27.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Byron G. Wong sold 535 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $91.39, for a total value of $48,893.65. Following the completion of the sale, the director owned 8,659 shares in the company, valued at $791,346.01. The trade was a 5.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,711 shares of company stock worth $1,754,320 over the last 90 days. 0.56% of the stock is currently owned by insiders.

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.