Handelsbanken Fonder AB Acquires 131,883 Shares of Ormat Technologies, Inc. $ORA

Handelsbanken Fonder AB grew its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 34.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 516,500 shares of the energy company’s stock after buying an additional 131,883 shares during the quarter. Handelsbanken Fonder AB’s holdings in Ormat Technologies were worth $57,058,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Signaturefd LLC grew its stake in Ormat Technologies by 13.0% during the fourth quarter. Signaturefd LLC now owns 746 shares of the energy company’s stock worth $82,000 after buying an additional 86 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Ormat Technologies by 43.8% during the third quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock worth $35,000 after buying an additional 113 shares during the last quarter. CWM LLC grew its stake in Ormat Technologies by 14.2% during the fourth quarter. CWM LLC now owns 1,254 shares of the energy company’s stock worth $139,000 after buying an additional 156 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in Ormat Technologies by 4.3% during the third quarter. Crossmark Global Holdings Inc. now owns 3,803 shares of the energy company’s stock worth $366,000 after buying an additional 158 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in Ormat Technologies by 4.7% during the third quarter. Mackenzie Financial Corp now owns 3,862 shares of the energy company’s stock worth $372,000 after buying an additional 175 shares during the last quarter. 95.49% of the stock is owned by institutional investors.

Ormat Technologies Price Performance

Shares of ORA stock opened at $129.20 on Tuesday. Ormat Technologies, Inc. has a 52-week low of $70.42 and a 52-week high of $138.51. The stock has a market cap of $7.94 billion, a PE ratio of 62.72, a PEG ratio of 5.63 and a beta of 0.80. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.07. The firm’s 50 day moving average price is $114.15 and its two-hundred day moving average price is $114.59.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data 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. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The firm had revenue of $403.91 million for the quarter, compared to analysts’ expectations of $349.17 million. During the same period last year, the firm earned $0.68 earnings per share. The business’s revenue for the quarter was up 75.8% on a year-over-year basis. As a group, analysts forecast that Ormat Technologies, Inc. will post 2.33 EPS for the current year.

Ormat Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.30%.

Analyst Ratings Changes

Several analysts have weighed in on ORA shares. Barclays upped their price objective on shares of Ormat Technologies from $123.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Royal Bank Of Canada started coverage on shares of Ormat Technologies in a research note on Tuesday, March 3rd. They set an “outperform” rating and a $130.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ormat Technologies in a research note on Tuesday, April 21st. TD Cowen decreased their price objective on shares of Ormat Technologies from $131.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $135.00 price objective on shares of Ormat Technologies in a research note on Monday, May 11th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $133.18.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, CFO Assi Ginzburg sold 17,776 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $134.75, for a total value of $2,395,316.00. Following the transaction, the chief financial officer directly owned 1,970 shares of the company’s stock, valued at approximately $265,457.50. This trade represents a 90.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dafna Sharir sold 883 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $122.44, for a total transaction of $108,114.52. Following the completion of the transaction, the director directly owned 3,140 shares in the company, valued at approximately $384,461.60. The trade was a 21.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 27,100 shares of company stock valued at $3,536,599. 0.56% of the stock is currently owned by company insiders.

Ormat Technologies Company 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.