Candriam S.C.A. Has $7.25 Million Stock Holdings in Ormat Technologies, Inc. $ORA

Candriam S.C.A. trimmed its stake in Ormat Technologies, Inc. (NYSE:ORA) by 42.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,573 shares of the energy company’s stock after selling 64,272 shares during the quarter. Candriam S.C.A. owned approximately 0.14% of Ormat Technologies worth $7,252,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Empower Advisory Group LLC increased its stake in shares of Ormat Technologies by 6.5% during the 1st quarter. Empower Advisory Group LLC now owns 215,327 shares of the energy company’s stock worth $15,239,000 after purchasing an additional 13,061 shares during the last quarter. Bayforest Capital Ltd increased its position in Ormat Technologies by 2,293.3% during the first quarter. Bayforest Capital Ltd now owns 6,773 shares of the energy company’s stock worth $479,000 after buying an additional 6,490 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in Ormat Technologies in the second quarter valued at approximately $358,000. Voya Investment Management LLC raised its stake in Ormat Technologies by 19.2% in the first quarter. Voya Investment Management LLC now owns 96,604 shares of the energy company’s stock valued at $6,837,000 after buying an additional 15,532 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Ormat Technologies by 100.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,000 shares of the energy company’s stock valued at $2,513,000 after buying an additional 15,000 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Price Performance

NYSE:ORA opened at $108.54 on Friday. Ormat Technologies, Inc. has a 52 week low of $61.58 and a 52 week high of $115.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.64 and a current ratio of 0.70. The firm’s 50-day simple moving average is $102.48 and its 200 day simple moving average is $89.92. The firm has a market cap of $6.60 billion, a price-to-earnings ratio of 50.49, a P/E/G ratio of 4.84 and a beta of 0.77.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Monday, November 3rd. The energy company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Ormat Technologies had a net margin of 14.49% and a return on equity of 5.47%. The firm had revenue of $249.73 million for the quarter, compared to analyst estimates of $235.03 million. During the same quarter in the prior year, the business posted $0.36 EPS. The business’s revenue was up 17.9% compared to the same quarter last year. Ormat Technologies has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, November 17th. Ormat Technologies’s dividend payout ratio (DPR) is 22.02%.

Insider Transactions at Ormat Technologies

In related news, CEO Doron Blachar sold 14,994 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $94.71, for a total value of $1,420,081.74. Following the completion of the transaction, the chief executive officer owned 35,419 shares of the company’s stock, valued at $3,354,533.49. The trade was a 29.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Isaac Angel sold 18,018 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $112.42, for a total transaction of $2,025,583.56. Following the sale, the director directly owned 29,650 shares of the company’s stock, valued at $3,333,253. This represents a 37.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 81,786 shares of company stock worth $8,462,825. Corporate insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Barclays boosted their target price on Ormat Technologies from $89.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Piper Sandler raised shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $90.00 to $102.00 in a research report on Wednesday, September 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ormat Technologies in a report on Wednesday, October 8th. Cowen reiterated a “hold” rating on shares of Ormat Technologies in a research note on Wednesday, November 5th. Finally, Baird R W upgraded shares of Ormat Technologies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ormat Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.44.

Ormat Technologies Profile

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.