nVerses Capital LLC Grows Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

nVerses Capital LLC lifted its stake in Ormat Technologies, Inc. (NYSE:ORA) by 311.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,700 shares of the energy company’s stock after buying an additional 2,800 shares during the quarter. nVerses Capital LLC’s holdings in Ormat Technologies were worth $265,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ORA. GAMMA Investing LLC purchased a new stake in Ormat Technologies in the 4th quarter worth approximately $32,000. EntryPoint Capital LLC acquired a new stake in Ormat Technologies during the first quarter valued at $50,000. Manchester Capital Management LLC increased its holdings in Ormat Technologies by 593.0% in the fourth quarter. Manchester Capital Management LLC now owns 797 shares of the energy company’s stock valued at $60,000 after buying an additional 682 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Ormat Technologies by 50.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock worth $117,000 after acquiring an additional 514 shares during the period. Finally, TFO Wealth Partners LLC boosted its stake in shares of Ormat Technologies by 9,066.7% during the 4th quarter. TFO Wealth Partners LLC now owns 275 shares of the energy company’s stock worth $227,000 after acquiring an additional 272 shares in the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ORA shares. Oppenheimer lifted their price target on Ormat Technologies from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. UBS Group upped their target price on Ormat Technologies from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. TD Cowen boosted their price target on shares of Ormat Technologies from $70.00 to $76.00 and gave the stock a “hold” rating in a report on Friday, May 10th. JPMorgan Chase & Co. upped their price objective on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Finally, 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $81.67.

Insiders Place Their Bets

In related news, Director Dafna Sharir sold 433 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.91, for a total value of $32,436.03. Following the completion of the sale, the director now owns 3,561 shares of the company’s stock, valued at $266,754.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.

Ormat Technologies Price Performance

Shares of NYSE ORA opened at $74.53 on Monday. The firm has a 50-day simple moving average of $73.69 and a 200-day simple moving average of $70.01. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of 33.57, a price-to-earnings-growth ratio of 3.65 and a beta of 0.51. Ormat Technologies, Inc. has a 52 week low of $58.73 and a 52 week high of $78.51.

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

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.64%. The ex-dividend date is Tuesday, August 20th. Ormat Technologies’s payout ratio is currently 21.62%.

About Ormat Technologies

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.