Candriam S.C.A. Has $10.68 Million Stake in Ormat Technologies, Inc. $ORA

Key Points

• Candriam S.C.A. increased its stake in Ormat Technologies by 48.3%, acquiring an additional 49,098 shares, bringing its total ownership to approximately 150,845 shares valued at $10.7 million.
• Ormat Technologies recently announced a quarterly dividend of $0.12 per share, with an annualized yield of 0.5% and a payout ratio of 22.33%.
• The stock's recent performance includes a record high of $93.26 over the past year, and it reported $0.48 EPS in its latest quarterly earnings, exceeding analyst expectations.

Candriam S.C.A. raised its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 48.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 150,845 shares of the energy company's stock after acquiring an additional 49,098 shares during the period. Candriam S.C.A. owned approximately 0.25% of Ormat Technologies worth $10,675,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ORA. Stuart Chaussee & Associates Inc. bought a new stake in shares of Ormat Technologies in the 4th quarter valued at $34,000. UMB Bank n.a. increased its position in shares of Ormat Technologies by 42.6% in the 1st quarter. UMB Bank n.a. now owns 880 shares of the energy company's stock valued at $62,000 after buying an additional 263 shares in the last quarter. Signaturefd LLC increased its position in shares of Ormat Technologies by 60.6% in the 1st quarter. Signaturefd LLC now owns 890 shares of the energy company's stock valued at $63,000 after buying an additional 336 shares in the last quarter. CWM LLC increased its position in shares of Ormat Technologies by 294.2% in the 1st quarter. CWM LLC now owns 887 shares of the energy company's stock valued at $63,000 after buying an additional 662 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Ormat Technologies by 30.7% in the 1st quarter. Russell Investments Group Ltd. now owns 1,072 shares of the energy company's stock valued at $76,000 after buying an additional 252 shares in the last quarter. Institutional investors own 95.49% of the company's stock.

Wall Street Analysts Forecast Growth

ORA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Ormat Technologies from $75.00 to $85.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Oppenheimer restated an "outperform" rating and set a $100.00 price objective on shares of Ormat Technologies in a research note on Friday, August 8th. UBS Group increased their price objective on shares of Ormat Technologies from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. TD Cowen increased their price objective on shares of Ormat Technologies from $76.00 to $85.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. Finally, Baird R W upgraded shares of Ormat Technologies from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. One 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $93.30.

Ormat Technologies Price Performance

Shares of NYSE ORA traded up $0.62 during trading hours on Wednesday, hitting $92.20. 141,834 shares of the stock were exchanged, compared to its average volume of 514,522. 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 company has a market cap of $5.60 billion, a PE ratio of 42.87, a price-to-earnings-growth ratio of 4.31 and a beta of 0.68. The company's fifty day simple moving average is $88.13 and its two-hundred day simple moving average is $77.25. Ormat Technologies, Inc. has a 1-year low of $61.58 and a 1-year high of $95.36.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The energy company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.11. The business had revenue of $234.02 million for the quarter, compared to analyst estimates of $225.26 million. Ormat Technologies had a net margin of 14.49% and a return on equity of 5.47%. The firm's revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the business posted $0.37 EPS. On average, sell-side analysts predict that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th will be given a $0.12 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. Ormat Technologies's dividend payout ratio (DPR) is currently 22.33%.

Insider Transactions at Ormat Technologies

In other news, insider Jessica Woelfel sold 692 shares of Ormat Technologies stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $94.57, for a total transaction of $65,442.44. Following the transaction, the insider owned 5,234 shares in the company, valued at approximately $494,979.38. The trade was a 11.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dafna Sharir sold 1,601 shares of Ormat Technologies stock in a transaction on Friday, June 20th. The stock was sold at an average price of $85.63, for a total transaction of $137,093.63. Following the transaction, the director owned 3,238 shares in the company, valued at approximately $277,269.94. This trade represents a 33.09% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,995 shares of company stock valued at $1,090,249. Corporate insiders own 0.56% of the company's stock.

About Ormat Technologies

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.