Ormat Technologies, Inc. $ORA Shares Sold by Candriam S.C.A.

Candriam S.C.A. decreased its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 38.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,407 shares of the energy company’s stock after selling 22,510 shares during the quarter. Candriam S.C.A.’s holdings in Ormat Technologies were worth $3,343,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ORA. Main Street Group LTD acquired a new position in Ormat Technologies in the first quarter valued at approximately $29,000. Quantbot Technologies LP bought a new position in Ormat Technologies in the second quarter valued at approximately $33,000. Allworth Financial LP acquired a new stake in Ormat Technologies during the 2nd quarter worth $40,000. Public Employees Retirement System of Ohio acquired a new stake in Ormat Technologies during the 2nd quarter worth $46,000. Finally, Root Financial Partners LLC acquired a new stake in Ormat Technologies during the 3rd quarter worth $42,000. 95.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ORA. Wall Street Zen raised Ormat Technologies from a “strong sell” rating to a “sell” rating in a research note on Sunday, October 11th. Jefferies Financial Group restated a “hold” rating and issued a $117.00 price target on shares of Ormat Technologies in a research report on Wednesday, September 9th. TD Cowen raised Ormat Technologies to a “strong-buy” rating in a research note on Monday, October 5th. Morgan Stanley assumed coverage on Ormat Technologies in a report on Thursday, October 29th. They issued an “overweight” rating and a $123.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their target price on Ormat Technologies from $98.00 to $99.00 and gave the company a “neutral” rating in a research note on Friday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $124.15.

Ormat Technologies Price Performance

Shares of ORA stock opened at $92.36 on Wednesday. Ormat Technologies, Inc. has a 12-month low of $85.77 and a 12-month high of $146.39. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 42.96, a price-to-earnings-growth ratio of 3.41 and a beta of 0.89. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 0.84. The firm has a fifty day moving average of $93.34 and a 200-day moving average of $110.64.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Wednesday, November 4th. The energy company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.33 by $0.23. The business had revenue of $275.12 million for the quarter, compared to the consensus estimate of $248.36 million. Ormat Technologies had a return on equity of 6.90% and a net margin of 11.07%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 EPS. On average, equities research analysts forecast that Ormat Technologies, Inc. will post 2.78 earnings per share for the current year.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Wednesday, November 18th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Wednesday, November 18th. Ormat Technologies’s dividend payout ratio is 22.33%.

Ormat Technologies Company Profile

Ormat Technologies is a renewable energy company that develops, owns and operates geothermal power plants and recovered energy generation facilities. It also provides equipment and services for geothermal projects, including its Ormat Energy Converter technology, which converts heat from geothermal resources and industrial processes into electricity. The company’s activities include project development and engineering, construction, plant operation and maintenance, and energy storage. Its geothermal and energy storage operations serve markets in the United States and internationally, including countries in Central America, the Caribbean, Africa and Asia.