Jupiter Asset Management Ltd. Sells 38,041 Shares of Ormat Technologies, Inc. $ORA

Jupiter Asset Management Ltd. cut its position in Ormat Technologies, Inc. (NYSE:ORA) by 20.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 147,781 shares of the energy company’s stock after selling 38,041 shares during the period. Jupiter Asset Management Ltd.’s holdings in Ormat Technologies were worth $16,325,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ORA. Migdal Insurance & Financial Holdings Ltd. raised its position in Ormat Technologies by 155.8% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 886,526 shares of the energy company’s stock valued at $97,935,000 after purchasing an additional 540,000 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Ormat Technologies by 62.6% in the second quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock valued at $89,928,000 after purchasing an additional 413,384 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in Ormat Technologies in the second quarter valued at about $18,310,000. AEGON ASSET MANAGEMENT UK Plc raised its position in Ormat Technologies by 102.6% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 294,748 shares of the energy company’s stock valued at $32,549,000 after purchasing an additional 149,271 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its position in Ormat Technologies by 34.3% in the fourth quarter. Handelsbanken Fonder AB now owns 516,500 shares of the energy company’s stock valued at $57,058,000 after purchasing an additional 131,883 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ormat Technologies

In related news, Director Stanley Stern sold 250 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $138.42, for a total transaction of $34,605.00. Following the completion of the sale, the director owned 5,800 shares of the company’s stock, valued at $802,836. This trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michal Marom sold 3,080 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $130.97, for a total value of $403,387.60. Following the sale, the director directly owned 1,766 shares of the company’s stock, valued at $231,293.02. This represents a 63.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,949 shares of company stock valued at $4,444,618 over the last ninety days. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Ormat Technologies from $106.00 to $123.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Robert W. Baird dropped their target price on Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Jefferies Financial Group downgraded Ormat Technologies from a “buy” rating to a “hold” rating and increased their target price for the company from $125.00 to $130.00 in a research report on Friday, February 13th. Barclays raised their price objective on Ormat Technologies from $123.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, Citigroup raised their price objective on Ormat Technologies from $110.00 to $128.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ormat Technologies has an average rating of “Moderate Buy” and a consensus price target of $133.18.

Ormat Technologies Price Performance

Shares of ORA opened at $136.88 on Friday. The business has a 50-day moving average of $118.80 and a 200-day moving average of $116.15. Ormat Technologies, Inc. has a 1 year low of $73.05 and a 1 year high of $141.62. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of 66.45, a price-to-earnings-growth ratio of 5.87 and a beta of 0.80. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.07 and a quick ratio of 1.02.

Ormat Technologies (NYSE:ORA) last released its earnings results on Wednesday, May 6th. The energy company reported $1.30 EPS for the quarter, topping 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 business had revenue of $403.91 million during the quarter, compared to analysts’ expectations of $349.17 million. During the same quarter last year, the firm posted $0.68 earnings per share. The firm’s revenue was up 75.8% on a year-over-year basis. As a group, equities research analysts anticipate that Ormat Technologies, Inc. will post 2.35 earnings per share for the current year.

Ormat Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 20th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $0.48 annualized dividend and a yield of 0.4%. Ormat Technologies’s dividend payout ratio (DPR) is currently 23.30%.

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.