Pathstone Holdings LLC Acquires 422 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Pathstone Holdings LLC grew its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,729 shares of the energy company’s stock after acquiring an additional 422 shares during the period. Pathstone Holdings LLC’s holdings in Ormat Technologies were worth $1,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of ORA. Susquehanna International Group Ltd. purchased a new position in Ormat Technologies during the second quarter valued at $1,006,000. Tidal Investments LLC grew its stake in shares of Ormat Technologies by 433.4% during the 1st quarter. Tidal Investments LLC now owns 15,075 shares of the energy company’s stock valued at $998,000 after acquiring an additional 12,249 shares during the period. Y.D. More Investments Ltd increased its holdings in Ormat Technologies by 1,011.5% in the 2nd quarter. Y.D. More Investments Ltd now owns 493,619 shares of the energy company’s stock worth $34,943,000 after acquiring an additional 449,209 shares in the last quarter. Chesapeake Capital Corp IL bought a new stake in Ormat Technologies during the 3rd quarter worth approximately $522,000. Finally, Bank of New York Mellon Corp raised its stake in 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 worth $40,154,000 after acquiring an additional 15,004 shares during the period. Institutional investors own 95.49% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ORA shares. Roth Mkm reissued a “buy” rating and issued a $92.00 price objective (up from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Oppenheimer increased their price target on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.50.

Ormat Technologies Stock Performance

ORA opened at $81.59 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 41.63, a PEG ratio of 4.24 and a beta of 0.53. The company has a fifty day moving average of $78.63 and a 200 day moving average of $75.41. Ormat Technologies, Inc. has a fifty-two week low of $59.41 and a fifty-two week high of $84.30.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The firm had revenue of $211.80 million during the quarter, compared to analyst estimates of $215.53 million. During the same quarter last year, the business posted $0.47 earnings per share. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Ormat Technologies, Inc. will post 1.93 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.59%. Ormat Technologies’s dividend payout ratio (DPR) is 24.49%.

Insider Activity

In related news, Director Byron G. Wong sold 1,266 shares of Ormat Technologies stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.98, for a total value of $94,924.68. Following the completion of the transaction, the director now owns 6,906 shares in the company, valued at approximately $517,811.88. This trade represents a 15.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

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.