Ormat Technologies, Inc. $ORA Shares Bought by Trillium Asset Management LLC

Trillium Asset Management LLC raised its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 29.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 192,088 shares of the energy company’s stock after buying an additional 44,187 shares during the quarter. Trillium Asset Management LLC’s holdings in Ormat Technologies were worth $17,574,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the business. Phoenix Financial Ltd. increased its stake in shares of Ormat Technologies by 191.3% in the third quarter. Phoenix Financial Ltd. now owns 1,614,749 shares of the energy company’s stock worth $147,733,000 after acquiring an additional 1,060,468 shares during the period. Russell Investments Group Ltd. lifted its position in Ormat Technologies by 0.5% during the third quarter. Russell Investments Group Ltd. now owns 115,600 shares of the energy company’s stock valued at $10,576,000 after purchasing an additional 569 shares during the period. Van Berkom & Associates Inc. lifted its position in Ormat Technologies by 47.2% during the third quarter. Van Berkom & Associates Inc. now owns 706,446 shares of the energy company’s stock valued at $64,633,000 after purchasing an additional 226,654 shares during the period. M&G PLC boosted its holdings in Ormat Technologies by 35.9% in the third quarter. M&G PLC now owns 21,507 shares of the energy company’s stock valued at $1,957,000 after purchasing an additional 5,687 shares during the last quarter. Finally, Fulcrum Asset Management LLP purchased a new stake in Ormat Technologies in the third quarter valued at $87,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Ormat Technologies Stock Performance

NYSE ORA traded down $0.17 during mid-day trading on Friday, reaching $90.28. 710,433 shares of the stock were exchanged, compared to its average volume of 881,697. The business’s 50 day moving average is $92.51 and its 200-day moving average is $110.15. Ormat Technologies, Inc. has a 1 year low of $85.77 and a 1 year high of $146.39. The company has a market capitalization of $5.55 billion, a P/E ratio of 41.99, a P/E/G ratio of 3.14 and a beta of 0.89. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.88 and a current ratio of 0.92.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings results on Wednesday, November 4th. The energy company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.33 by $0.23. Ormat Technologies had a net margin of 11.07% and a return on equity of 6.90%. The company had revenue of $275.12 million for the quarter, compared to analyst estimates of $248.36 million. During the same quarter last year, the business earned $0.41 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. On average, equities research analysts forecast that Ormat Technologies, Inc. will post 2.88 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Wednesday, November 18th will be given a $0.12 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. Ormat Technologies’s dividend payout ratio is 22.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen raised Ormat Technologies from a “strong sell” rating to a “sell” rating in a research report on Sunday, October 11th. Sanford C. Bernstein restated a “market perform” rating and issued a $112.00 target price on shares of Ormat Technologies in a research note on Friday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ormat Technologies in a report on Thursday, October 15th. Morgan Stanley started coverage on Ormat Technologies in a research report on Thursday, October 29th. They set an “overweight” rating and a $123.00 price target for the company. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $130.00 price target on shares of Ormat Technologies in a report on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $124.15.

Ormat Technologies Company Profile

Ormat Technologies is a renewable energy company that develops, owns and operates geothermal power plants and recovered energy generation facilities. It also provides equipment and services for geothermal projects, including its Ormat Energy Converter technology, which converts heat from geothermal resources and industrial processes into electricity. The company’s activities include project development and engineering, construction, plant operation and maintenance, and energy storage. Its geothermal and energy storage operations serve markets in the United States and internationally, including countries in Central America, the Caribbean, Africa and Asia.