UMB Bank n.a. Increases Holdings in Ormat Technologies, Inc. (NYSE:ORA)

UMB Bank n.a. increased its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 107.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 617 shares of the energy company’s stock after buying an additional 320 shares during the quarter. UMB Bank n.a.’s holdings in Ormat Technologies were worth $47,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund raised its position in Ormat Technologies by 15.8% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 144,778 shares of the energy company’s stock valued at $9,583,000 after purchasing an additional 19,797 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Ormat Technologies by 48.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,104 shares of the energy company’s stock valued at $4,574,000 after buying an additional 22,413 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Ormat Technologies in the first quarter valued at $631,000. Mizuho Markets Americas LLC grew its stake in shares of Ormat Technologies by 23.6% in the first quarter. Mizuho Markets Americas LLC now owns 133,198 shares of the energy company’s stock valued at $8,816,000 after buying an additional 25,438 shares in the last quarter. Finally, Dudley & Shanley Inc. grew its stake in shares of Ormat Technologies by 300.0% in the first quarter. Dudley & Shanley Inc. now owns 36,400 shares of the energy company’s stock valued at $2,409,000 after buying an additional 27,300 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Stock Performance

ORA opened at $76.91 on Tuesday. The stock has a market cap of $4.65 billion, a P/E ratio of 34.64, a P/E/G ratio of 3.92 and a beta of 0.53. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.97 and a quick ratio of 0.89. The stock’s 50 day simple moving average is $74.51 and its 200 day simple moving average is $72.10. Ormat Technologies, Inc. has a 1-year low of $58.73 and a 1-year high of $78.51.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. Ormat Technologies had a return on equity of 5.40% and a net margin of 14.89%. The company had revenue of $212.96 million for the quarter, compared to analyst estimates of $214.07 million. During the same quarter in the prior year, the company posted $0.40 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, equities analysts anticipate that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently commented on ORA. Roth Mkm reissued a “buy” rating and set a $80.00 target price on shares of Ormat Technologies in a research note on Monday, August 12th. Oppenheimer boosted their target price on Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their price objective on Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $81.67.

Insider Buying and Selling

In other Ormat Technologies news, Director Dafna Sharir sold 433 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $266,754.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Dafna Sharir sold 433 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was 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 directly owns 3,561 shares in the company, valued at $266,754.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Byron G. Wong sold 1,266 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.98, for a total value of $94,924.68. Following the completion of the sale, the director now directly owns 6,906 shares of the company’s stock, valued at approximately $517,811.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% 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.