Ormat Technologies, Inc. $ORA Shares Bought by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. grew its position in Ormat Technologies, Inc. (NYSE:ORA) by 184.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,990 shares of the energy company’s stock after acquiring an additional 5,824 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Ormat Technologies were worth $993,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. RWC Asset Management LLP increased its position in Ormat Technologies by 8.8% during the 3rd quarter. RWC Asset Management LLP now owns 136,101 shares of the energy company’s stock worth $13,100,000 after purchasing an additional 11,063 shares during the period. Retirement Systems of Alabama lifted its holdings in shares of Ormat Technologies by 169.7% in the 3rd quarter. Retirement Systems of Alabama now owns 189,988 shares of the energy company’s stock valued at $18,286,000 after buying an additional 119,552 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Ormat Technologies in the 3rd quarter valued at approximately $3,738,000. AGF Management Ltd. purchased a new stake in shares of Ormat Technologies in the third quarter valued at approximately $9,527,000. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new position in Ormat Technologies during the third quarter worth $14,005,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Stock Down 0.8%

ORA opened at $112.70 on Friday. 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 company has a market cap of $6.86 billion, a price-to-earnings ratio of 56.07, a PEG ratio of 4.80 and a beta of 0.80. Ormat Technologies, Inc. has a one year low of $64.39 and a one year high of $132.58. The business’s fifty day moving average is $115.54 and its two-hundred day moving average is $111.12.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Wednesday, February 25th. The energy company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. The business had revenue of $276.04 million during the quarter, compared to analysts’ expectations of $257.75 million. Ormat Technologies had a return on equity of 5.21% and a net margin of 12.52%.The business’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter last year, the business posted $0.67 earnings per share. Analysts anticipate that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

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

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, insider Jessica Woelfel sold 2,359 shares of Ormat Technologies stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $105.16, for a total transaction of $248,072.44. Following the completion of the transaction, the insider owned 3,433 shares in the company, valued at approximately $361,014.28. The trade was a 40.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 3,364 shares of company stock worth $353,621 in the last ninety days. Insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Citigroup increased 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. Oppenheimer upped their price target on shares of Ormat Technologies from $125.00 to $136.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 27th. UBS Group cut their price target on shares of Ormat Technologies from $148.00 to $143.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Roth Mkm set a $139.00 price objective on shares of Ormat Technologies in a research note on Wednesday, January 28th. Finally, Piper Sandler upped their target price on shares of Ormat Technologies from $102.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Ormat Technologies has an average rating of “Moderate Buy” and a consensus target price of $129.09.

Ormat Technologies 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.