Trillium Asset Management LLC Invests $16.11 Million in Ormat Technologies, Inc. $ORA

Trillium Asset Management LLC acquired a new position in Ormat Technologies, Inc. (NYSE:ORA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 147,901 shares of the energy company’s stock, valued at approximately $16,106,000.

Other large investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in Ormat Technologies by 324.1% in the first quarter. AQR Capital Management LLC now owns 24,918 shares of the energy company’s stock worth $1,740,000 after acquiring an additional 19,043 shares during the period. United Services Automobile Association purchased a new position in shares of Ormat Technologies during the 1st quarter worth $243,000. Empowered Funds LLC grew its position in shares of Ormat Technologies by 7.3% during the 1st quarter. Empowered Funds LLC now owns 4,201 shares of the energy company’s stock valued at $297,000 after acquiring an additional 286 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Ormat Technologies by 22.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 234,467 shares of the energy company’s stock valued at $16,593,000 after acquiring an additional 43,483 shares during the period. Finally, Intech Investment Management LLC increased its stake in shares of Ormat Technologies by 10.5% in the 1st quarter. Intech Investment Management LLC now owns 24,592 shares of the energy company’s stock worth $1,740,000 after purchasing an additional 2,329 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ORA has been the topic of a number of recent research reports. Wolfe Research assumed coverage on Ormat Technologies in a report on Monday, June 8th. They issued a “peer perform” rating on the stock. Piper Sandler boosted their price target on Ormat Technologies from $125.00 to $142.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Weiss Ratings restated a “hold (c)” rating on shares of Ormat Technologies in a research report on Friday, July 17th. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $112.00 price objective on shares of Ormat Technologies in a research note on Monday, August 10th. Finally, Wall Street Zen cut Ormat Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ormat Technologies has a consensus rating of “Moderate Buy” and an average price target of $130.83.

Insider Activity at Ormat Technologies

In other news, Director Stanley Stern sold 250 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $138.42, for a total value of $34,605.00. Following the transaction, the director directly owned 5,800 shares in the company, valued at $802,836. The trade was a 4.13% 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. 0.50% of the stock is owned by insiders.

Ormat Technologies Stock Performance

Shares of NYSE ORA opened at $108.32 on Friday. The stock has a market cap of $6.66 billion, a PE ratio of 53.36, a price-to-earnings-growth ratio of 4.46 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. The firm has a fifty day moving average price of $111.50 and a 200-day moving average price of $116.74. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.05 and a quick ratio of 1.00.

Ormat Technologies (NYSE:ORA) last released its earnings results on Wednesday, August 5th. The energy company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.24. The company had revenue of $258.76 million for 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%. Ormat Technologies’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.48 EPS. Equities analysts anticipate that Ormat Technologies, Inc. will post 2.47 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. Ormat Technologies’s dividend payout ratio (DPR) is currently 23.65%.

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.