10,436 Shares in Ormat Technologies, Inc. $ORA Acquired by Equitable Holdings Inc.

Equitable Holdings Inc. acquired a new stake in Ormat Technologies, Inc. (NYSE:ORA) during the 2nd quarter, HoldingsChannel reports. The firm acquired 10,436 shares of the energy company’s stock, valued at approximately $1,136,000.

Other large investors have also bought and sold shares of the company. Brasada Capital Management LP purchased a new position in shares of Ormat Technologies during the 2nd quarter valued at $544,000. Public Employees Retirement System of Ohio bought a new stake in Ormat Technologies in the 2nd quarter valued at about $46,000. Corient Private Wealth LP purchased a new stake in Ormat Technologies during the second quarter valued at about $334,000. Bank of America Corp DE purchased a new stake in Ormat Technologies during the second quarter valued at about $27,113,000. Finally, Jupiter Topco LLC bought a new position in Ormat Technologies during the second quarter worth about $2,979,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ORA. Oppenheimer lowered their price target on shares of Ormat Technologies from $144.00 to $141.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Roth Capital reiterated a “buy” rating and issued a $135.00 price objective on shares of Ormat Technologies in a research note on Monday, May 11th. UBS Group boosted their target price on shares of Ormat Technologies from $143.00 to $152.00 and gave the company a “buy” rating in a report on Friday, May 8th. Weiss Ratings restated a “hold (c)” rating on shares of Ormat Technologies in a research report on Friday, July 17th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $112.00 price target on shares of Ormat Technologies in a report on Monday, August 10th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $130.83.

Ormat Technologies Stock Down 1.7%

ORA stock opened at $103.11 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.87. The company’s 50 day moving average is $108.28 and its 200 day moving average is $115.96. The stock has a market cap of $6.34 billion, a price-to-earnings ratio of 50.79, a price-to-earnings-growth ratio of 4.24 and a beta of 0.90. Ormat Technologies, Inc. has a 1-year low of $89.08 and a 1-year high of $146.39.

Ormat Technologies (NYSE:ORA) last announced its 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. Ormat Technologies had a net margin of 10.66% and a return on equity of 6.61%. The business had revenue of $258.76 million during the quarter, compared to analyst estimates of $240.03 million. During the same period in the previous year, the business posted $0.48 earnings per share. Ormat Technologies’s revenue for the quarter was up 10.6% on a year-over-year basis. Sell-side analysts predict that Ormat Technologies, Inc. will post 2.47 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. Ormat Technologies’s dividend payout ratio (DPR) is 23.65%.

About Ormat Technologies

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.