Ormat Technologies, Inc. $ORA Shares Acquired by RWC Asset Management LLP

RWC Asset Management LLP lifted its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 8.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 136,101 shares of the energy company’s stock after acquiring an additional 11,063 shares during the period. RWC Asset Management LLP owned 0.22% of Ormat Technologies worth $13,100,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC grew its position in Ormat Technologies by 324.1% during the 1st quarter. AQR Capital Management LLC now owns 24,918 shares of the energy company’s stock worth $1,740,000 after purchasing an additional 19,043 shares during the last quarter. United Services Automobile Association acquired a new position in Ormat Technologies in the 1st quarter valued at about $243,000. Empowered Funds LLC increased its position in Ormat Technologies by 7.3% in the 1st quarter. Empowered Funds LLC now owns 4,201 shares of the energy company’s stock valued at $297,000 after acquiring an additional 286 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Ormat Technologies by 22.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 234,467 shares of the energy company’s stock valued at $16,593,000 after acquiring an additional 43,483 shares during the last quarter. Finally, Intech Investment Management LLC grew its stake in shares of Ormat Technologies by 10.5% in the 1st quarter. Intech Investment Management LLC now owns 24,592 shares of the energy company’s stock valued at $1,740,000 after purchasing an additional 2,329 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Price Performance

ORA stock opened at $118.99 on Tuesday. The firm has a 50 day moving average of $112.13 and a 200-day moving average of $100.48. The company has a market cap of $7.23 billion, a price-to-earnings ratio of 54.58, a PEG ratio of 4.62 and a beta of 0.71. The company has a current ratio of 0.77, a quick ratio of 0.70 and a debt-to-equity ratio of 0.79. Ormat Technologies, Inc. has a 12-month low of $61.58 and a 12-month high of $119.51.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Monday, November 3rd. The energy company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.04. The firm had revenue of $249.73 million during the quarter, compared to the consensus estimate of $235.03 million. Ormat Technologies had a return on equity of 5.35% and a net margin of 14.12%.Ormat Technologies’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS. As a group, equities analysts expect that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The firm 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. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, November 17th. Ormat Technologies’s dividend payout ratio is presently 22.02%.

Analyst Ratings Changes

Several equities research analysts have recently commented on ORA shares. JPMorgan Chase & Co. upped their price target on Ormat Technologies from $99.00 to $111.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Oppenheimer restated an “outperform” rating and set a $125.00 price objective on shares of Ormat Technologies in a research report on Wednesday, November 5th. Roth Capital reaffirmed a “buy” rating and issued a $125.00 target price on shares of Ormat Technologies in a report on Wednesday, November 5th. Jefferies Financial Group reissued a “buy” rating and set a $125.00 price target on shares of Ormat Technologies in a report on Monday, November 24th. Finally, Cowen raised Ormat Technologies from a “hold” rating to a “buy” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.89.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, insider Jessica Woelfel sold 721 shares of Ormat Technologies stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $115.00, for a total transaction of $82,915.00. Following the completion of the transaction, the insider owned 3,433 shares in the company, valued at approximately $394,795. The trade was a 17.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Isaac Angel sold 18,018 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $112.42, for a total transaction of $2,025,583.56. Following the completion of the sale, the director owned 29,650 shares in the company, valued at $3,333,253. This represents a 37.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 40,860 shares of company stock valued at $4,601,530. Insiders own 0.56% of the company’s stock.

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.