Geode Capital Management LLC Raises Stock Position in Ormat Technologies, Inc. $ORA

Geode Capital Management LLC grew its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,467,156 shares of the energy company’s stock after buying an additional 48,038 shares during the quarter. Geode Capital Management LLC’s holdings in Ormat Technologies were worth $122,902,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Curio Wealth LLC increased its stake in Ormat Technologies by 29,200.0% during the second quarter. Curio Wealth LLC now owns 293 shares of the energy company’s stock worth $25,000 after acquiring an additional 292 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Ormat Technologies by 57.4% in the 2nd quarter. GAMMA Investing LLC now owns 886 shares of the energy company’s stock worth $74,000 after purchasing an additional 323 shares during the period. CWM LLC increased its position in shares of Ormat Technologies by 294.2% during the 1st quarter. CWM LLC now owns 887 shares of the energy company’s stock valued at $63,000 after purchasing an additional 662 shares during the last quarter. Signaturefd LLC raised its holdings in Ormat Technologies by 60.6% during the 1st quarter. Signaturefd LLC now owns 890 shares of the energy company’s stock valued at $63,000 after buying an additional 336 shares during the period. Finally, UMB Bank n.a. lifted its position in Ormat Technologies by 20.3% in the second quarter. UMB Bank n.a. now owns 1,059 shares of the energy company’s stock worth $89,000 after buying an additional 179 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on ORA shares. Jefferies Financial Group boosted their price objective on shares of Ormat Technologies from $97.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Baird R W raised shares of Ormat Technologies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 30th. Roth Capital reiterated a “buy” rating and set a $125.00 price target on shares of Ormat Technologies in a report on Wednesday, November 5th. JPMorgan Chase & Co. increased their price objective on shares of Ormat Technologies from $99.00 to $111.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Finally, UBS Group boosted their target price on Ormat Technologies from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 7th. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.44.

Ormat Technologies Stock Up 1.3%

NYSE:ORA opened at $108.96 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.64. Ormat Technologies, Inc. has a 1-year low of $61.58 and a 1-year high of $115.72. The company has a 50-day moving average of $103.53 and a 200 day moving average of $90.79. The firm has a market cap of $6.62 billion, a PE ratio of 50.68, a price-to-earnings-growth ratio of 4.84 and a beta of 0.77.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Monday, November 3rd. The energy company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $249.73 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. Ormat Technologies has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.4%. Ormat Technologies’s dividend payout ratio is presently 22.02%.

Insider Activity

In other news, insider Jessica Woelfel sold 721 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $115.00, for a total value of $82,915.00. Following the completion of the sale, the insider owned 3,433 shares of the company’s stock, valued at $394,795. This trade represents a 17.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ravit Barniv sold 1,753 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $112.54, for a total value of $197,282.62. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 81,052 shares of company stock worth $8,395,538. Company insiders own 0.56% 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.