Schroder Investment Management Group Grows Stake in Ormat Technologies, Inc. $ORA

Schroder Investment Management Group grew its position in Ormat Technologies, Inc. (NYSE:ORA) by 6.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 412,406 shares of the energy company’s stock after buying an additional 25,949 shares during the quarter. Schroder Investment Management Group’s holdings in Ormat Technologies were worth $39,410,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ORA. AQR Capital Management LLC raised its holdings in shares of Ormat Technologies by 324.1% in the first quarter. AQR Capital Management LLC now owns 24,918 shares of the energy company’s stock valued at $1,740,000 after acquiring an additional 19,043 shares in the last quarter. United Services Automobile Association bought a new position in Ormat Technologies during the 1st quarter worth about $243,000. Empowered Funds LLC grew its holdings in Ormat Technologies by 7.3% during the 1st quarter. Empowered Funds LLC now owns 4,201 shares of the energy company’s stock worth $297,000 after acquiring an additional 286 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in 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 purchasing an additional 43,483 shares during the period. Finally, Intech Investment Management LLC increased its position in Ormat Technologies by 10.5% during the 1st quarter. Intech Investment Management LLC now owns 24,592 shares of the energy company’s stock valued at $1,740,000 after purchasing an additional 2,329 shares during the period. Institutional investors own 95.49% of the company’s stock.

Insiders Place Their Bets

In other Ormat Technologies news, insider Jessica Woelfel sold 2,359 shares of Ormat Technologies stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $105.16, for a total value of $248,072.44. Following the transaction, the insider directly owned 3,433 shares of the company’s stock, valued at approximately $361,014.28. The trade was a 40.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is currently owned by company insiders.

Ormat Technologies Stock Performance

ORA stock opened at $108.35 on Thursday. Ormat Technologies, Inc. has a one year low of $64.39 and a one year high of $132.58. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 53.91, a PEG ratio of 4.68 and a beta of 0.84. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.75 and a current ratio of 0.81. The firm has a 50-day simple moving average of $117.77 and a two-hundred day simple moving average of $109.17.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Wednesday, February 25th. The energy company reported $0.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.67. The firm had revenue of $276.04 million for the quarter, compared to the consensus estimate of $257.75 million. Ormat Technologies had a net margin of 12.52% and a return on equity of 5.21%. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 EPS. On average, equities analysts forecast that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, March 10th. Ormat Technologies’s dividend payout ratio (DPR) is 23.88%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ORA shares. TD Cowen lowered their price target on shares of Ormat Technologies from $131.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Royal Bank Of Canada assumed coverage on shares of Ormat Technologies in a report on Tuesday, March 3rd. They set an “outperform” rating and a $130.00 price objective on the stock. Piper Sandler boosted their price objective on shares of Ormat Technologies from $102.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Jefferies Financial Group lowered Ormat Technologies from a “buy” rating to a “hold” rating and upped their target price for the stock from $125.00 to $130.00 in a report on Friday, February 13th. Finally, Oppenheimer increased their target price on Ormat Technologies from $125.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday, January 27th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $129.09.

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.