Ormat Technologies, Inc. $ORA Position Boosted by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey boosted its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 9.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,788 shares of the energy company’s stock after acquiring an additional 1,163 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Ormat Technologies were worth $1,155,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ORA. Curio Wealth LLC grew its stake in shares of Ormat Technologies by 29,200.0% in the second quarter. Curio Wealth LLC now owns 293 shares of the energy company’s stock worth $25,000 after purchasing an additional 292 shares in the last quarter. CWM LLC lifted its holdings in Ormat Technologies by 294.2% in the first quarter. CWM LLC now owns 887 shares of the energy company’s stock worth $63,000 after purchasing an additional 662 shares during the period. GAMMA Investing LLC lifted its holdings in Ormat Technologies by 57.4% in the second 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. Russell Investments Group Ltd. grew its position in Ormat Technologies by 30.7% in the 1st quarter. Russell Investments Group Ltd. now owns 1,072 shares of the energy company’s stock valued at $76,000 after buying an additional 252 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in Ormat Technologies by 20.3% during the 2nd quarter. UMB Bank n.a. now owns 1,059 shares of the energy company’s stock valued at $89,000 after buying an additional 179 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Trading Up 1.9%

Shares of NYSE:ORA opened at $108.63 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.64 and a current ratio of 0.70. The stock has a market capitalization of $6.60 billion, a price-to-earnings ratio of 50.53, a PEG ratio of 4.84 and a beta of 0.77. 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 price of $104.17 and a 200 day moving average price of $91.16.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Monday, November 3rd. The energy company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $249.73 million for the quarter, compared to analysts’ expectations of $235.03 million. Ormat Technologies had a return on equity of 5.47% and a net margin of 14.49%.The firm’s revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 earnings per share. Ormat Technologies has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ORA. Oppenheimer reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Ormat Technologies in a research note on Wednesday, November 5th. Cowen reissued a “hold” rating on shares of Ormat Technologies in a report on Wednesday, November 5th. JPMorgan Chase & Co. upped their target price on Ormat Technologies from $99.00 to $111.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Roth Capital reiterated a “buy” rating and set a $125.00 price target on shares of Ormat Technologies in a research report on Wednesday, November 5th. Finally, Baird R W raised Ormat Technologies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.44.

Insiders Place Their Bets

In related news, insider Jessica Woelfel sold 5,611 shares of Ormat Technologies stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $94.80, for a total value of $531,922.80. Following the transaction, the insider owned 3,433 shares of the company’s stock, valued at approximately $325,448.40. This trade represents a 62.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Isaac Angel sold 18,018 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $112.42, for a total value of $2,025,583.56. Following the sale, the director owned 29,650 shares in the company, valued at approximately $3,333,253. The trade was a 37.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 73,294 shares of company stock worth $7,660,875 over the last three months. Company 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.