Atria Investments Inc Buys New Stake in Ormat Technologies, Inc. $ORA

Atria Investments Inc bought a new position in Ormat Technologies, Inc. (NYSE:ORA) during the 2nd quarter, Holdings Channel reports. The fund bought 3,984 shares of the energy company’s stock, valued at approximately $334,000.

Other hedge funds also recently bought and sold shares of the company. Teacher Retirement System of Texas bought a new position in shares of Ormat Technologies in the first quarter worth about $593,000. Principal Financial Group Inc. grew its holdings in Ormat Technologies by 1.0% in the 1st quarter. Principal Financial Group Inc. now owns 133,227 shares of the energy company’s stock valued at $9,428,000 after buying an additional 1,321 shares during the last quarter. State of Michigan Retirement System grew its holdings 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 valued at $977,000 after buying an additional 300 shares during the last quarter. Xponance Inc. increased its position in Ormat Technologies by 12.4% in the 1st quarter. Xponance Inc. now owns 9,839 shares of the energy company’s stock worth $696,000 after buying an additional 1,082 shares during the period. Finally, Arizona State Retirement System lifted its holdings in shares of Ormat Technologies by 4.4% during the first quarter. Arizona State Retirement System now owns 16,484 shares of the energy company’s stock worth $1,167,000 after buying an additional 693 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on ORA. JPMorgan Chase & Co. increased their price objective on Ormat Technologies from $99.00 to $111.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Jefferies Financial Group increased their price target on shares of Ormat Technologies from $97.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. TD Cowen raised their price target on shares of Ormat Technologies from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ormat Technologies in a research report on Wednesday, October 8th. Finally, Cowen reiterated a “hold” rating on shares of Ormat Technologies in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Ormat Technologies has a consensus rating of “Moderate Buy” and an average price target of $115.44.

Insider Transactions at Ormat Technologies

In other news, Director Ravit Barniv sold 1,753 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $112.54, for a total value of $197,282.62. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Isaac Angel sold 18,018 shares of the stock in a transaction dated 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 sale, the director owned 29,650 shares of the company’s stock, valued at $3,333,253. This trade represents a 37.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 81,786 shares of company stock valued at $8,462,825. 0.56% of the stock is owned by insiders.

Ormat Technologies Price Performance

Shares of Ormat Technologies stock opened at $112.79 on Wednesday. Ormat Technologies, Inc. has a twelve month low of $61.58 and a twelve month high of $115.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.64 and a current ratio of 0.70. The firm has a market cap of $6.85 billion, a P/E ratio of 52.46, a price-to-earnings-growth ratio of 4.84 and a beta of 0.77. The firm’s 50-day simple moving average is $101.40 and its 200-day simple moving average is $89.40.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Monday, November 3rd. The energy company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $249.73 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 earnings per share. Ormat Technologies has set its FY 2025 guidance at EPS. As a group, research analysts expect that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Monday, November 17th. This represents a $0.48 annualized dividend and a yield of 0.4%. Ormat Technologies’s payout ratio is currently 22.02%.

Ormat Technologies Company 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.