Trillium Asset Management LLC acquired a new stake in shares of Ormat Technologies, Inc. (NYSE:ORA – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 147,901 shares of the energy company’s stock, valued at approximately $16,106,000. Trillium Asset Management LLC owned 0.24% of Ormat Technologies at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in ORA. Jennison Associates LLC increased its position in shares of Ormat Technologies by 51.7% during the fourth quarter. Jennison Associates LLC now owns 90,753 shares of the energy company’s stock valued at $10,025,000 after buying an additional 30,910 shares during the period. Legato Capital Management LLC bought a new position in Ormat Technologies in the fourth quarter worth about $1,319,000. Nicholas Investment Partners LP purchased a new stake in Ormat Technologies in the fourth quarter worth about $4,835,000. Hsbc Holdings PLC lifted its holdings in Ormat Technologies by 459.1% in the fourth quarter. Hsbc Holdings PLC now owns 46,763 shares of the energy company’s stock worth $5,171,000 after buying an additional 38,399 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Ormat Technologies by 32.7% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,147,863 shares of the energy company’s stock worth $128,469,000 after buying an additional 282,583 shares during the period. 95.49% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, Director Stanley Stern sold 250 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $138.42, for a total transaction of $34,605.00. Following the transaction, the director directly owned 5,800 shares of the company’s stock, valued at $802,836. This represents a 4.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.50% of the company’s stock.
Ormat Technologies Stock Performance
Ormat Technologies (NYSE:ORA – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.24. The firm had revenue of $258.76 million during the quarter, compared to analysts’ expectations of $240.03 million. Ormat Technologies had a net margin of 10.66% and a return on equity of 6.61%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 earnings per share. As a group, analysts anticipate that Ormat Technologies, Inc. will post 2.47 EPS for the current year.
Ormat Technologies Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. Ormat Technologies’s payout ratio is currently 23.65%.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the company. Wolfe Research began coverage on Ormat Technologies in a report on Monday, June 8th. They set a “peer perform” rating on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Ormat Technologies in a research note on Friday, July 17th. Wall Street Zen lowered Ormat Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Piper Sandler lifted their price target on Ormat Technologies from $125.00 to $142.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Finally, JPMorgan Chase & Co. upped their price target on Ormat Technologies from $106.00 to $123.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $130.83.
Read Our Latest Stock Report on ORA
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.
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