Mercer Global Advisors Inc. ADV Acquires New Shares in Ormat Technologies, Inc. (NYSE:ORA)

Mercer Global Advisors Inc. ADV bought a new position in Ormat Technologies, Inc. (NYSE:ORA) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 4,416 shares of the energy company’s stock, valued at approximately $317,000.

Several other large investors have also recently bought and sold shares of the company. TFO Wealth Partners LLC increased its stake in shares of Ormat Technologies by 9,066.7% in the fourth quarter. TFO Wealth Partners LLC now owns 275 shares of the energy company’s stock valued at $227,000 after buying an additional 272 shares during the period. GAMMA Investing LLC raised its stake in shares of Ormat Technologies by 115.3% during the second quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock valued at $52,000 after acquiring an additional 391 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Ormat Technologies during the first quarter valued at $50,000. PNC Financial Services Group Inc. lifted its holdings in shares of Ormat Technologies by 50.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock worth $117,000 after purchasing an additional 514 shares during the period. Finally, nVerses Capital LLC increased its holdings in Ormat Technologies by 311.1% in the second quarter. nVerses Capital LLC now owns 3,700 shares of the energy company’s stock valued at $265,000 after purchasing an additional 2,800 shares during the period. 95.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ormat Technologies

In related news, Director Dafna Sharir sold 433 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total value of $32,436.03. Following the transaction, the director now directly owns 3,561 shares in the company, valued at approximately $266,754.51. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Ormat Technologies news, Director Dafna Sharir sold 433 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total transaction of $32,436.03. Following the completion of the sale, the director now owns 3,561 shares in the company, valued at approximately $266,754.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Byron G. Wong sold 1,266 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the completion of the transaction, the director now directly owns 6,906 shares in the company, valued at $517,811.88. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Ormat Technologies Price Performance

Ormat Technologies stock opened at $77.47 on Monday. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 34.90, a PEG ratio of 3.71 and a beta of 0.53. Ormat Technologies, Inc. has a 52-week low of $58.73 and a 52-week high of $78.51. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 0.97. The stock’s 50 day moving average price is $74.54 and its two-hundred day moving average price is $71.26.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The business had revenue of $212.96 million during the quarter, compared to analysts’ expectations of $214.07 million. During the same period last year, the company posted $0.40 earnings per share. The business’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts predict that Ormat Technologies, Inc. will post 2.04 earnings per share for the current year.

Ormat Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a $0.12 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.48 annualized dividend and a yield of 0.62%. Ormat Technologies’s payout ratio is currently 21.62%.

Analyst Ratings Changes

ORA has been the topic of a number of analyst reports. Roth Mkm reiterated a “buy” rating and issued a $80.00 price target on shares of Ormat Technologies in a research report on Monday, August 12th. Oppenheimer raised their price target on shares of Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Ormat Technologies currently has an average rating of “Hold” and an average price target of $81.67.

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.