Grantham Mayo Van Otterloo & Co. LLC Cuts Stock Holdings in Ormat Technologies, Inc. $ORA

Key Points

• Grantham Mayo Van Otterloo & Co. LLC cut its stake in Ormat Technologies by 18.3% in Q3, selling 26,400 shares and leaving it with 117,936 shares worth about $11.35 million (≈0.19% of the company).
• Several other institutions adjusted positions—AQR, UBS and others increased holdings—leaving hedge funds and institutional investors owning a concentrated 95.49% of ORA's stock.
• Sell‑side sentiment is mildly positive: Ormat has a consensus rating of "Moderate Buy" with an average target of $129.09, and multiple firms recently raised price targets even as one downgraded the stock.

Grantham Mayo Van Otterloo & Co. LLC decreased its position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 18.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,936 shares of the energy company's stock after selling 26,400 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.19% of Ormat Technologies worth $11,351,000 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. AQR Capital Management LLC lifted its position in shares of Ormat Technologies by 324.1% during the first quarter. AQR Capital Management LLC now owns 24,918 shares of the energy company's stock valued at $1,740,000 after purchasing an additional 19,043 shares in the last quarter. United Services Automobile Association bought a new stake in Ormat Technologies in the 1st quarter worth about $243,000. Empowered Funds LLC grew its position in Ormat Technologies by 7.3% in the 1st quarter. Empowered Funds LLC now owns 4,201 shares of the energy company's stock worth $297,000 after purchasing an additional 286 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Ormat Technologies by 22.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 234,467 shares of the energy company's stock valued at $16,593,000 after buying an additional 43,483 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in Ormat Technologies by 10.5% in the 1st quarter. Intech Investment Management LLC now owns 24,592 shares of the energy company's stock valued at $1,740,000 after buying an additional 2,329 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Weiss Ratings restated a "hold (c)" rating on shares of Ormat Technologies in a research note on Thursday, January 22nd. Piper Sandler increased their price target on Ormat Technologies from $102.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, December 18th. Roth Mkm set a $139.00 price target on Ormat Technologies in a report on Wednesday, January 28th. Barclays boosted their price objective on Ormat Technologies from $108.00 to $123.00 and gave the stock an "overweight" rating in a research report on Monday, March 2nd. Finally, Jefferies Financial Group downgraded Ormat Technologies from a "buy" rating to a "hold" rating and upped their price objective for the company from $125.00 to $130.00 in a research note on Friday, February 13th. Eight 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, Ormat Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $129.09.

Insider Activity at Ormat Technologies

In other news, insider Jessica Woelfel sold 2,359 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $105.16, for a total transaction of $248,072.44. Following the completion of the transaction, the insider owned 3,433 shares in the company, valued at approximately $361,014.28. This represents a 40.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is owned by corporate insiders.

Ormat Technologies Trading Up 0.9%

Shares of ORA stock opened at $109.87 on Tuesday. The company has a 50 day moving average of $117.83 and a 200-day moving average of $109.06. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 0.79. Ormat Technologies, Inc. has a 12-month low of $64.39 and a 12-month high of $132.58. The firm has a market cap of $6.69 billion, a P/E ratio of 54.66, a PEG ratio of 4.60 and a beta of 0.84.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The energy company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. Ormat Technologies had a return on equity of 5.21% and a net margin of 12.52%.The business had revenue of $276.04 million for the quarter, compared to the consensus estimate of $257.75 million. During the same quarter in the prior year, the business earned $0.67 earnings per share. Ormat Technologies's revenue for the quarter was up 19.6% on a year-over-year basis. Sell-side analysts anticipate that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The company 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. The ex-dividend date is Tuesday, March 10th. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. Ormat Technologies's payout ratio is presently 23.88%.

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.

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