Perpetual Ltd Reduces Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

Perpetual Ltd trimmed its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 49.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,480 shares of the energy company’s stock after selling 6,246 shares during the period. Perpetual Ltd’s holdings in Ormat Technologies were worth $439,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ORA. Susquehanna International Group Ltd. acquired a new stake in Ormat Technologies in the second quarter valued at $1,006,000. Chesapeake Capital Corp IL acquired a new stake in Ormat Technologies in the 3rd quarter valued at about $522,000. Holocene Advisors LP grew its stake in Ormat Technologies by 28.7% in the 3rd quarter. Holocene Advisors LP now owns 48,121 shares of the energy company’s stock valued at $3,702,000 after acquiring an additional 10,718 shares during the last quarter. Wesbanco Bank Inc. purchased a new position in Ormat Technologies during the 3rd quarter valued at about $1,731,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in Ormat Technologies by 23.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 178,217 shares of the energy company’s stock worth $12,778,000 after acquiring an additional 33,439 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Insiders Place Their Bets

In related news, Director David Granot sold 1,256 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $82.00, for a total transaction of $102,992.00. Following the sale, the director now directly owns 3,576 shares in the company, valued at approximately $293,232. This trade represents a 25.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Corp Orix sold 3,700,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $75.38, for a total value of $278,906,000.00. Following the completion of the transaction, the insider now owns 2,976,077 shares of the company’s stock, valued at approximately $224,336,684.26. This represents a 55.42 % decrease in their position. The disclosure for this sale can be found here. 0.46% of the stock is owned by insiders.

Ormat Technologies Stock Performance

Ormat Technologies stock opened at $64.53 on Thursday. The stock has a fifty day moving average price of $73.13 and a 200 day moving average price of $74.94. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. Ormat Technologies, Inc. has a 52 week low of $59.41 and a 52 week high of $84.30. The firm has a market capitalization of $3.90 billion, a P/E ratio of 32.92, a PEG ratio of 3.14 and a beta of 0.57.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The company had revenue of $211.80 million during the quarter, compared to the consensus estimate of $215.53 million. During the same quarter in the prior year, the company posted $0.47 EPS. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities research analysts anticipate that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, November 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.74%. Ormat Technologies’s dividend payout ratio (DPR) is 24.49%.

Analyst Ratings Changes

Several analysts have recently commented on ORA shares. Roth Mkm reiterated a “buy” rating and issued a $92.00 price target (up from $87.00) on shares of Ormat Technologies in a research report on Friday, November 8th. Oppenheimer raised their price target on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Jefferies Financial Group started coverage on Ormat Technologies in a report on Friday, January 10th. They issued a “hold” rating and a $73.00 price target for the company. Finally, Piper Sandler started coverage on Ormat Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $78.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ormat Technologies has a consensus rating of “Hold” and an average price target of $82.25.

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.