Evexia Wealth LLC Grows Stock Holdings in Ormat Technologies, Inc. (NYSE:ORA)

12 Oct 2024, 16:07 by Danessa Lincoln · The Markets Daily

Evexia Wealth LLC increased its position in Ormat Technologies, Inc. (NYSE:ORA – Free Report) by 25.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,629 shares of the energy company’s stock after buying an additional 1,974 shares during the period. Evexia Wealth LLC’s holdings in Ormat Technologies were worth $731,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ORA. Vanguard Group Inc. grew its holdings in Ormat Technologies by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 5,388,571 shares of the energy company’s stock valued at $356,670,000 after buying an additional 63,943 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Ormat Technologies by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company’s stock worth $104,030,000 after buying an additional 86,291 shares during the last quarter. Van Berkom & Associates Inc. raised its position in Ormat Technologies by 2.0% during the second quarter. Van Berkom & Associates Inc. now owns 1,322,936 shares of the energy company’s stock valued at $94,855,000 after purchasing an additional 25,799 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Ormat Technologies by 3.5% in the 4th quarter. Wellington Management Group LLP now owns 1,041,169 shares of the energy company’s stock worth $78,910,000 after purchasing an additional 35,665 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Ormat Technologies by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 560,029 shares of the energy company’s stock valued at $40,154,000 after purchasing an additional 15,004 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Roth Mkm reaffirmed a “buy” rating and set a $80.00 price objective on shares of Ormat Technologies in a research note on Monday, August 12th. Oppenheimer upped their price target on shares of Ormat Technologies from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $81.67.

Check Out Our Latest Stock Analysis on Ormat Technologies

Ormat Technologies Trading Up 1.3 %

ORA stock traded up $0.94 during mid-day trading on Friday, reaching $76.00. The company had a trading volume of 276,410 shares, compared to its average volume of 437,887. The company has a market capitalization of $4.59 billion, a PE ratio of 34.70, a price-to-earnings-growth ratio of 3.92 and a beta of 0.53. The firm has a 50 day moving average of $74.43 and a 200 day moving average of $71.94. Ormat Technologies, Inc. has a 12 month low of $58.73 and a 12 month high of $78.51. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.97 and a quick ratio of 0.89.

Ormat Technologies (NYSE:ORA – Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. Ormat Technologies had a return on equity of 5.40% and a net margin of 14.89%. The company had revenue of $212.96 million for the quarter, compared to analysts’ expectations of $214.07 million. During the same quarter in the prior year, the firm earned $0.40 earnings per share. Ormat Technologies’s revenue was up 9.3% compared to the same quarter last year. On average, equities analysts predict that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Tuesday, August 20th. Ormat Technologies’s dividend payout ratio (DPR) is presently 21.92%.

Insiders Place Their Bets

In related news, Director Dafna Sharir sold 433 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total value of $32,436.03. Following the completion of the transaction, the director now owns 3,561 shares of the company’s stock, valued at $266,754.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Ormat Technologies news, Director Dafna Sharir sold 433 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.91, for a total value of $32,436.03. Following the completion of the transaction, the director now directly owns 3,561 shares in the company, valued at approximately $266,754.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Byron G. Wong sold 1,266 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the completion of the sale, the director now owns 6,906 shares in the company, valued at $517,811.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Ormat Technologies Profile

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