Trillium Asset Management LLC Sells 66,472 Shares of Ormat Technologies, Inc. $ORA

Trillium Asset Management LLC decreased its position in Ormat Technologies, Inc. (NYSE:ORA) by 27.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 179,073 shares of the energy company’s stock after selling 66,472 shares during the period. Trillium Asset Management LLC’s holdings in Ormat Technologies were worth $20,075,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ORA. Los Angeles Capital Management LLC bought a new position in Ormat Technologies in the fourth quarter valued at about $32,000. Wolff Wiese Magana LLC bought a new position in Ormat Technologies in the fourth quarter valued at about $33,000. Jones Financial Companies Lllp boosted its holdings in Ormat Technologies by 43.8% in the third quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock valued at $35,000 after acquiring an additional 113 shares during the last quarter. Ameriflex Group Inc. boosted its holdings in Ormat Technologies by 1,100.0% in the third quarter. Ameriflex Group Inc. now owns 360 shares of the energy company’s stock valued at $35,000 after acquiring an additional 330 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Ormat Technologies by 251.0% in the second quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company’s stock valued at $44,000 after acquiring an additional 374 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ORA. Robert W. Baird decreased their price target on Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Roth Mkm reiterated a “buy” rating and issued a $135.00 price target on shares of Ormat Technologies in a report on Monday, May 11th. TD Cowen decreased their price target on Ormat Technologies from $131.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 27th. JPMorgan Chase & Co. raised their price target on Ormat Technologies from $106.00 to $123.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $144.00 price target on shares of Ormat Technologies in a report on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Ormat Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.18.

Ormat Technologies Trading Up 1.5%

NYSE:ORA opened at $138.43 on Friday. Ormat Technologies, Inc. has a 1-year low of $78.24 and a 1-year high of $146.39. The business’s 50-day moving average price is $124.61 and its two-hundred day moving average price is $118.26. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of 67.20, a PEG ratio of 5.81 and a beta of 0.85.

Ormat Technologies (NYSE:ORA) last released its earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.38. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.97%.The firm had revenue of $403.91 million for the quarter, compared to analyst estimates of $349.17 million. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The company’s quarterly revenue was up 75.8% on a year-over-year basis. On average, equities analysts expect that Ormat Technologies, Inc. will post 2.35 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $0.48 annualized dividend and a yield of 0.3%. Ormat Technologies’s dividend payout ratio is presently 23.30%.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, CFO Assi Ginzburg sold 17,776 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $134.75, for a total value of $2,395,316.00. Following the transaction, the chief financial officer owned 1,970 shares of the company’s stock, valued at approximately $265,457.50. This represents a 90.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David Granot sold 1,766 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $134.43, for a total value of $237,403.38. Following the completion of the transaction, the director directly owned 1,766 shares in the company, valued at $237,403.38. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 30,721 shares of company stock valued at $4,105,657. Corporate insiders own 0.56% of the company’s stock.

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.