Schroder Investment Management Group Acquires 25,949 Shares of Ormat Technologies, Inc. $ORA

Schroder Investment Management Group boosted its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 6.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 412,406 shares of the energy company’s stock after purchasing an additional 25,949 shares during the quarter. Schroder Investment Management Group owned about 0.68% of Ormat Technologies worth $39,410,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Ormat Technologies in the 2nd quarter worth about $56,458,000. Groupama Asset Managment bought a new position in shares of Ormat Technologies in the 2nd quarter valued at about $41,880,000. Canada Pension Plan Investment Board lifted its holdings in shares of Ormat Technologies by 62.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock valued at $89,928,000 after acquiring an additional 413,384 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in Ormat Technologies in the second quarter worth about $18,310,000. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new position in Ormat Technologies in the third quarter worth about $14,005,000. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Stock Down 2.2%

NYSE:ORA opened at $108.35 on Thursday. The company has a market cap of $6.59 billion, a price-to-earnings ratio of 53.91, a price-to-earnings-growth ratio of 4.68 and a beta of 0.84. Ormat Technologies, Inc. has a twelve month low of $64.39 and a twelve month high of $132.58. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 0.79. The stock has a fifty day simple moving average of $117.77 and a 200-day simple moving average of $109.17.

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

Ormat Technologies Announces Dividend

The business 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 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, March 10th. Ormat Technologies’s dividend payout ratio is currently 23.88%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ORA shares. Oppenheimer increased their target price on shares of Ormat Technologies from $125.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, January 27th. TD Cowen dropped 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 note on Friday, February 27th. Piper Sandler upped their price target on shares of Ormat Technologies from $102.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Royal Bank Of Canada started coverage on shares of Ormat Technologies in a research report on Tuesday, March 3rd. They issued an “outperform” rating and a $130.00 price objective on the stock. Finally, Barclays raised their price objective on shares of Ormat Technologies from $108.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $129.09.

Insider Buying and Selling

In other news, insider Jessica Woelfel sold 2,359 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $105.16, for a total transaction 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. This trade represents a 40.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.56% of the stock is owned by corporate insiders.

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.