Ormat Technologies, Inc. $ORA Holdings Raised by Bank of Montreal Can

Bank of Montreal Can lifted its stake in Ormat Technologies, Inc. (NYSE:ORA) by 6.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 294,144 shares of the energy company’s stock after purchasing an additional 17,544 shares during the quarter. Bank of Montreal Can owned 0.49% of Ormat Technologies worth $24,638,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Teacher Retirement System of Texas acquired a new position in shares of Ormat Technologies in the first quarter worth about $593,000. Principal Financial Group Inc. raised its holdings in shares of Ormat Technologies by 1.0% during the first quarter. Principal Financial Group Inc. now owns 133,227 shares of the energy company’s stock valued at $9,428,000 after acquiring an additional 1,321 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of Ormat Technologies by 8.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 9,049 shares of the energy company’s stock valued at $631,000 after acquiring an additional 711 shares in the last quarter. State of Michigan Retirement System boosted its stake in Ormat Technologies by 2.2% in the 1st quarter. State of Michigan Retirement System now owns 13,800 shares of the energy company’s stock worth $977,000 after purchasing an additional 300 shares during the period. Finally, Xponance Inc. grew its position in Ormat Technologies by 12.4% during the 1st quarter. Xponance Inc. now owns 9,839 shares of the energy company’s stock worth $696,000 after purchasing an additional 1,082 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, CFO Assi Ginzburg sold 9,343 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $93.31, for a total transaction of $871,795.33. Following the transaction, the chief financial officer directly owned 24,482 shares of the company’s stock, valued at $2,284,415.42. This represents a 27.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dafna Sharir sold 981 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $96.70, for a total value of $94,862.70. Following the transaction, the director owned 2,257 shares in the company, valued at approximately $218,251.90. This trade represents a 30.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 40,926 shares of company stock valued at $3,861,296 in the last three months. 0.56% of the stock is currently owned by company insiders.

Ormat Technologies Stock Up 0.8%

Shares of Ormat Technologies stock opened at $114.80 on Friday. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 53.40, a P/E/G ratio of 4.84 and a beta of 0.77. The stock has a 50-day simple moving average of $100.08 and a 200-day simple moving average of $88.30. Ormat Technologies, Inc. has a 52-week low of $61.58 and a 52-week high of $115.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.64.

Ormat Technologies (NYSE:ORA) last issued 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 for the quarter, compared to analyst estimates of $235.03 million. Ormat Technologies had a net margin of 14.49% and a return on equity of 5.47%. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 earnings per share. Ormat Technologies has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Cowen restated a “hold” rating on shares of Ormat Technologies in a report on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Ormat Technologies in a research note on Wednesday, October 8th. Barclays lowered their target price on Ormat Technologies from $90.00 to $89.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Piper Sandler raised shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $90.00 to $102.00 in a research report on Wednesday, September 17th. Finally, Oppenheimer restated an “outperform” rating and set a $125.00 price target on shares of Ormat Technologies in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Ormat Technologies currently has an average rating of “Moderate Buy” and an average target price of $107.20.

About Ormat Technologies

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.