UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stock Position in Ormat Technologies, Inc. $ORA

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Ormat Technologies, Inc. (NYSE:ORA) by 18.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 158,727 shares of the energy company’s stock after acquiring an additional 24,407 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Ormat Technologies were worth $17,285,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ORA. BlackRock Inc. purchased a new stake in Ormat Technologies in the second quarter worth approximately $896,374,000. Clal Insurance Enterprises Holdings Ltd purchased a new stake in Ormat Technologies during the 2nd quarter valued at $259,568,000. Canada Pension Plan Investment Board bought a new position in shares of Ormat Technologies during the 2nd quarter valued at $173,638,000. Norges Bank purchased a new position in shares of Ormat Technologies in the 4th quarter worth $86,545,000. Finally, Legal & General Group Plc purchased a new position in shares of Ormat Technologies in the 2nd quarter worth $77,650,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ORA has been the subject of a number of research reports. Barclays reduced their price objective on Ormat Technologies from $127.00 to $122.00 and set an “overweight” rating for the company in a research report on Monday, August 10th. Sanford C. Bernstein raised Ormat Technologies from an “underperform” rating to a “market perform” rating and set a $112.00 target price on the stock in a research report on Friday. UBS Group boosted their price target on Ormat Technologies from $143.00 to $152.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Roth Capital reaffirmed a “buy” rating and set a $135.00 price target on shares of Ormat Technologies in a research report on Monday, May 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ormat Technologies in a research note on Friday, July 17th. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Ormat Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.83.

Ormat Technologies Price Performance

Shares of Ormat Technologies stock opened at $105.38 on Friday. The stock has a market cap of $6.48 billion, a P/E ratio of 51.91, a P/E/G ratio of 4.21 and a beta of 0.90. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.00 and a current ratio of 1.05. The stock’s fifty day moving average is $106.48 and its 200 day moving average is $115.37. Ormat Technologies, Inc. has a one year low of $89.70 and a one year high of $146.39.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.24. The business had revenue of $258.76 million during the quarter, compared to analyst estimates of $240.03 million. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.66%.Ormat Technologies’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.48 earnings per share. Sell-side analysts anticipate that Ormat Technologies, Inc. will post 2.47 earnings per share for the current year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, August 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. Ormat Technologies’s payout ratio is 23.65%.

Ormat Technologies Company Profile

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.