RWC Asset Management LLP Trims Stock Position in Ormat Technologies, Inc. $ORA

RWC Asset Management LLP cut its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 28.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,901 shares of the energy company’s stock after selling 38,200 shares during the period. RWC Asset Management LLP’s holdings in Ormat Technologies were worth $10,815,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new stake in shares of Ormat Technologies in the 4th quarter valued at approximately $32,000. Wolff Wiese Magana LLC purchased a new stake in shares of Ormat Technologies in the 4th quarter valued at approximately $33,000. Jones Financial Companies Lllp raised its stake in shares of Ormat Technologies by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock valued at $35,000 after acquiring an additional 113 shares during the period. Ameriflex Group Inc. raised its stake in shares of Ormat Technologies by 1,100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 360 shares of the energy company’s stock valued at $35,000 after acquiring an additional 330 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Ormat Technologies by 251.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company’s stock valued at $44,000 after acquiring an additional 374 shares during the period. 95.49% of the stock is owned by hedge funds and other institutional investors.

Ormat Technologies Trading Up 0.2%

Shares of ORA stock opened at $140.21 on Monday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.07. The stock has a market capitalization of $8.62 billion, a P/E ratio of 68.06, a price-to-earnings-growth ratio of 5.97 and a beta of 0.85. The company has a 50 day moving average price of $122.04 and a 200 day moving average price of $117.30. Ormat Technologies, Inc. has a fifty-two week low of $76.96 and a fifty-two week high of $146.39.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.38. The firm had revenue of $403.91 million during the quarter, compared to analysts’ expectations of $349.17 million. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The business’s quarterly revenue was up 75.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 earnings per share. Equities research analysts predict that Ormat Technologies, Inc. will post 2.35 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 20th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, May 20th. Ormat Technologies’s payout ratio is presently 23.30%.

Insider Activity

In related news, CFO Assi Ginzburg sold 17,776 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $134.75, for a total transaction of $2,395,316.00. Following the completion of the transaction, the chief financial officer directly owned 1,970 shares of the company’s stock, valued at $265,457.50. The trade was a 90.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dafna Sharir sold 883 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $122.44, for a total value of $108,114.52. Following the transaction, the director directly owned 3,140 shares of the company’s stock, valued at $384,461.60. The trade was a 21.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 30,721 shares of company stock worth $4,105,657 over the last three months. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ORA shares. Jefferies Financial Group downgraded shares of Ormat Technologies from a “buy” rating to a “hold” rating and boosted their price target for the company from $125.00 to $130.00 in a research note on Friday, February 13th. Roth Mkm reissued a “buy” rating and issued a $135.00 price target on shares of Ormat Technologies in a research note on Monday, May 11th. TD Cowen reduced their price target on shares of Ormat Technologies from $131.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Oppenheimer reissued an “outperform” rating and issued a $144.00 price target on shares of Ormat Technologies in a research note on Friday, May 8th. Finally, Robert W. Baird reduced their price target on shares of Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.18.

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.