Jupiter Asset Management Ltd. Decreases Stake in Ormat Technologies, Inc. $ORA

Jupiter Asset Management Ltd. lessened its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 185,822 shares of the energy company’s stock after selling 3,531 shares during the period. Jupiter Asset Management Ltd. owned approximately 0.31% of Ormat Technologies worth $15,564,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ORA. Dimensional Fund Advisors LP raised its stake in shares of Ormat Technologies by 19.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,890,235 shares of the energy company’s stock worth $133,770,000 after purchasing an additional 303,756 shares during the last quarter. Van Berkom & Associates Inc. increased its holdings in Ormat Technologies by 2.7% in the 1st quarter. Van Berkom & Associates Inc. now owns 1,280,026 shares of the energy company’s stock worth $90,587,000 after buying an additional 33,719 shares during the period. Canada Pension Plan Investment Board raised its position in Ormat Technologies by 7,951.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 660,255 shares of the energy company’s stock worth $46,726,000 after buying an additional 652,055 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Ormat Technologies by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 620,772 shares of the energy company’s stock valued at $43,932,000 after acquiring an additional 1,835 shares during the period. Finally, Bank of Montreal Can boosted its holdings in shares of Ormat Technologies by 6.3% in the 2nd quarter. Bank of Montreal Can now owns 294,144 shares of the energy company’s stock valued at $24,638,000 after acquiring an additional 17,544 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Insider Activity

In other Ormat Technologies news, CFO Assi Ginzburg sold 20,000 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $112.72, for a total transaction of $2,254,400.00. Following the completion of the transaction, the chief financial officer owned 4,482 shares of the company’s stock, valued at $505,211.04. This represents a 81.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica Woelfel sold 5,611 shares of Ormat Technologies stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $94.80, for a total value of $531,922.80. Following the completion of the sale, the insider directly owned 3,433 shares in the company, valued at $325,448.40. This represents a 62.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 81,786 shares of company stock worth $8,462,825. Company insiders own 0.56% of the company’s stock.

Ormat Technologies Stock Down 1.3%

Shares of ORA opened at $111.31 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.77. The firm has a market cap of $6.77 billion, a P/E ratio of 51.77, a PEG ratio of 4.84 and a beta of 0.77. The stock’s 50 day moving average is $101.81 and its two-hundred day moving average is $89.55. Ormat Technologies, Inc. has a 12 month low of $61.58 and a 12 month high of $115.72.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings results on Monday, November 3rd. The energy company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $249.73 million for the quarter, compared to analysts’ expectations of $235.03 million. Ormat Technologies had a net margin of 14.49% and a return on equity of 5.47%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 EPS. Ormat Technologies has set its FY 2025 guidance at EPS. Analysts predict that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, November 17th. Ormat Technologies’s dividend payout ratio is 22.02%.

Wall Street Analyst Weigh In

ORA has been the subject of several recent research reports. Robert W. Baird raised shares of Ormat Technologies from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $87.00 to $103.00 in a report on Wednesday, July 30th. Barclays lifted their price objective on Ormat Technologies from $89.00 to $118.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. TD Cowen upped their target price on Ormat Technologies from $95.00 to $100.00 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. UBS Group lifted their price target on Ormat Technologies from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, Baird R W upgraded Ormat Technologies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Ormat Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.44.

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.