Global Alpha Capital Management Ltd. Trims Holdings in Ormat Technologies, Inc. $ORA

Global Alpha Capital Management Ltd. lessened its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 7.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,090,896 shares of the energy company’s stock after selling 159,701 shares during the quarter. Ormat Technologies accounts for 10.8% of Global Alpha Capital Management Ltd.’s investment portfolio, making the stock its biggest position. Global Alpha Capital Management Ltd.’s holdings in Ormat Technologies were worth $173,728,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Canada Pension Plan Investment Board grew its stake in shares of Ormat Technologies by 7,951.9% during the first quarter. Canada Pension Plan Investment Board now owns 660,255 shares of the energy company’s stock valued at $46,726,000 after buying an additional 652,055 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Ormat Technologies by 19.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,890,235 shares of the energy company’s stock valued at $133,770,000 after acquiring an additional 303,756 shares during the period. Nuveen LLC purchased a new stake in Ormat Technologies during the 1st quarter valued at about $14,453,000. Roubaix Capital LLC bought a new position in Ormat Technologies during the 1st quarter worth approximately $5,030,000. Finally, Phoenix Financial Ltd. increased its stake in Ormat Technologies by 162.6% in the 2nd quarter. Phoenix Financial Ltd. now owns 98,481 shares of the energy company’s stock worth $8,249,000 after purchasing an additional 60,981 shares during the period. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Ormat Technologies Stock Performance

NYSE:ORA opened at $113.36 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.77. The firm’s fifty day simple moving average is $100.51 and its 200 day simple moving average is $88.59. The stock has a market cap of $6.88 billion, a P/E ratio of 52.72, a price-to-earnings-growth ratio of 4.84 and a beta of 0.77. Ormat Technologies, Inc. has a twelve month low of $61.58 and a twelve month high of $115.72.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Monday, November 3rd. The energy company reported $0.41 EPS for the quarter, topping the consensus estimate 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 quarterly revenue was up 17.9% compared to the same quarter last year. During the same period last year, the company posted $0.36 EPS. Ormat Technologies has set its FY 2025 guidance at EPS. As a group, research analysts predict that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Announces Dividend

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

Analysts Set New Price Targets

ORA has been the subject of a number of analyst reports. Jefferies Financial Group increased their price objective on Ormat Technologies from $97.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Baird R W upgraded shares of Ormat Technologies from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 30th. Oppenheimer reissued an “outperform” rating and issued a $125.00 price target on shares of Ormat Technologies in a report on Wednesday. Piper Sandler upgraded shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $90.00 to $102.00 in a research report on Wednesday, September 17th. Finally, Barclays upped their price objective on shares of Ormat Technologies from $89.00 to $118.00 and gave the company an “overweight” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.44.

Insider Buying and Selling at Ormat Technologies

In related news, Director Stanley Stern sold 400 shares of Ormat Technologies stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $95.98, for a total transaction of $38,392.00. Following the sale, the director directly owned 4,861 shares in the company, valued at $466,558.78. The trade was a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Doron Blachar sold 14,994 shares of the company’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $94.71, for a total value of $1,420,081.74. Following the completion of the sale, the chief executive officer directly owned 35,419 shares in the company, valued at approximately $3,354,533.49. The trade was a 29.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 40,926 shares of company stock worth $3,861,296. Insiders own 0.56% of the company’s stock.

Ormat Technologies 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.