Mission Wealth Management LP Boosts Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

Mission Wealth Management LP grew its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 4.9% in the 1st quarter, HoldingsChannel reports. The firm owned 9,398 shares of the energy company’s stock after acquiring an additional 439 shares during the quarter. Mission Wealth Management LP’s holdings in Ormat Technologies were worth $665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in ORA. Stuart Chaussee & Associates Inc. bought a new position in Ormat Technologies during the fourth quarter valued at about $34,000. AlphaQuest LLC boosted its stake in Ormat Technologies by 4,691.7% in the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock valued at $39,000 after acquiring an additional 563 shares during the last quarter. UMB Bank n.a. grew its position in shares of Ormat Technologies by 42.6% during the 1st quarter. UMB Bank n.a. now owns 880 shares of the energy company’s stock valued at $62,000 after acquiring an additional 263 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Ormat Technologies during the 4th quarter worth approximately $66,000. Finally, Sterling Capital Management LLC increased its stake in shares of Ormat Technologies by 897.8% during the 4th quarter. Sterling Capital Management LLC now owns 1,856 shares of the energy company’s stock worth $126,000 after purchasing an additional 1,670 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors.

Insider Activity

In other Ormat Technologies news, Director Dafna Sharir sold 876 shares of the firm’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $75.00, for a total value of $65,700.00. Following the completion of the transaction, the director now directly owns 4,438 shares of the company’s stock, valued at $332,850. This trade represents a 16.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michal Marom sold 895 shares of the business’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $73.47, for a total transaction of $65,755.65. Following the transaction, the director now owns 3,080 shares of the company’s stock, valued at $226,287.60. This trade represents a 22.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,888 shares of company stock worth $212,865. 0.56% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Robert W. Baird started coverage on Ormat Technologies in a research note on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price objective on the stock. Wall Street Zen raised Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Monday, April 7th. Barclays raised Ormat Technologies from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $80.00 to $86.00 in a report on Friday, June 6th. Jefferies Financial Group boosted their price objective on Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, March 25th. Finally, Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $84.14.

Ormat Technologies Price Performance

Shares of NYSE ORA opened at $80.17 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.90 and a current ratio of 0.97. Ormat Technologies, Inc. has a fifty-two week low of $61.58 and a fifty-two week high of $84.30. The stock has a market cap of $4.86 billion, a PE ratio of 38.92, a price-to-earnings-growth ratio of 3.83 and a beta of 0.60. The stock has a fifty day moving average of $73.63 and a 200-day moving average of $70.67.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Wednesday, May 7th. The energy company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.58 by $0.10. The business had revenue of $229.76 million during the quarter, compared to the consensus estimate of $228.33 million. Ormat Technologies had a return on equity of 5.35% and a net margin of 14.18%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS. Equities research analysts anticipate that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 21st were given a $0.12 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.60%. Ormat Technologies’s dividend payout ratio (DPR) is currently 23.30%.

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.