AEGON ASSET MANAGEMENT UK Plc Makes New $14.01 Million Investment in Ormat Technologies, Inc. $ORA

AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Ormat Technologies, Inc. (NYSE:ORA) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 145,477 shares of the energy company’s stock, valued at approximately $14,005,000. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.24% of Ormat Technologies as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ORA. Sequoia Financial Advisors LLC purchased a new stake in Ormat Technologies in the 2nd quarter worth $358,000. RWC Asset Management LLP increased its holdings in Ormat Technologies by 8.8% in the 3rd quarter. RWC Asset Management LLP now owns 136,101 shares of the energy company’s stock valued at $13,100,000 after acquiring an additional 11,063 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Ormat Technologies in the 3rd quarter worth $3,738,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Ormat Technologies by 100.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,000 shares of the energy company’s stock valued at $2,513,000 after purchasing an additional 15,000 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in shares of Ormat Technologies by 54.6% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 33,845 shares of the energy company’s stock valued at $2,835,000 after purchasing an additional 11,952 shares in the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ormat Technologies

In other news, Director Isaac Angel sold 18,018 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $112.42, for a total transaction of $2,025,583.56. Following the transaction, the director owned 29,650 shares in the company, valued at approximately $3,333,253. This trade represents a 37.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Assi Ginzburg sold 20,000 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $112.72, for a total transaction of $2,254,400.00. Following the completion of the sale, the chief financial officer owned 4,482 shares of the company’s stock, valued at approximately $505,211.04. This represents a 81.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 40,860 shares of company stock worth $4,601,530. Corporate insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ORA. Weiss Ratings reissued a “hold (c)” rating on shares of Ormat Technologies in a research note on Thursday. Roth Mkm reissued a “buy” rating on shares of Ormat Technologies in a report on Tuesday, January 13th. Barclays reduced their price target on shares of Ormat Technologies from $118.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, January 15th. UBS Group increased their price objective on shares of Ormat Technologies from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, TD Cowen upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating in a report on Friday, January 9th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Ormat Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.22.

Ormat Technologies Trading Up 0.4%

ORA opened at $123.43 on Monday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.70 and a current ratio of 0.77. The stock’s 50 day moving average price is $113.58 and its 200-day moving average price is $102.61. Ormat Technologies, Inc. has a one year low of $61.58 and a one year high of $125.35. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 56.62, a P/E/G ratio of 4.90 and a beta of 0.71.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Monday, November 3rd. The energy company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $249.73 million during the quarter, compared to analyst estimates of $235.03 million. Ormat Technologies had a net margin of 14.12% and a return on equity of 5.35%. The business’s revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 earnings per share. On average, equities analysts forecast that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $0.48 annualized dividend and a yield of 0.4%. Ormat Technologies’s dividend payout ratio is 22.02%.

About Ormat Technologies

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.