Jupiter Asset Management Ltd. Has $13.40 Million Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Key Points

• Jupiter Asset Management Ltd. reduced its stake in Ormat Technologies by 3.3%, holding approximately $13.40 million in shares after selling 6,458 shares in the first quarter.
• Several analysts have upgraded their ratings on Ormat Technologies, with Barclays and UBS raising their price targets significantly, indicating a positive outlook for the stock.
• Ormat Technologies recently announced a quarterly dividend of $0.12 per share, representing an annual yield of 0.5%, with a payout ratio of 23.30%.

Jupiter Asset Management Ltd. cut its stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 3.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 189,353 shares of the energy company's stock after selling 6,458 shares during the period. Jupiter Asset Management Ltd. owned approximately 0.31% of Ormat Technologies worth $13,401,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ORA. Stuart Chaussee & Associates Inc. acquired a new stake in Ormat Technologies in the 4th quarter worth $34,000. UMB Bank n.a. grew its position in Ormat Technologies by 42.6% in the 1st quarter. UMB Bank n.a. now owns 880 shares of the energy company's stock worth $62,000 after purchasing an additional 263 shares during the last quarter. Signaturefd LLC grew its position in Ormat Technologies by 60.6% in the 1st quarter. Signaturefd LLC now owns 890 shares of the energy company's stock worth $63,000 after purchasing an additional 336 shares during the last quarter. CWM LLC grew its position in Ormat Technologies by 294.2% in the 1st quarter. CWM LLC now owns 887 shares of the energy company's stock worth $63,000 after purchasing an additional 662 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Ormat Technologies in the 4th quarter worth $66,000. 95.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wall Street Zen upgraded shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research report on Monday, April 7th. Barclays raised their price target on shares of Ormat Technologies from $86.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. UBS Group raised their price target on shares of Ormat Technologies from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. raised their price target on shares of Ormat Technologies from $75.00 to $85.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Baird R W raised shares of Ormat Technologies from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $91.25.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, Director Dafna Sharir sold 1,601 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $85.63, for a total value of $137,093.63. Following the transaction, the director directly owned 3,238 shares in the company, valued at $277,269.94. The trade was a 33.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stanley Stern sold 547 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $85.54, for a total transaction of $46,790.38. Following the completion of the transaction, the director owned 6,137 shares in the company, valued at approximately $524,958.98. This trade represents a 8.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,329 shares of company stock valued at $423,443. 0.56% of the stock is owned by company insiders.

Ormat Technologies Price Performance

NYSE:ORA opened at $88.71 on Friday. The company has a 50-day moving average of $83.53 and a 200-day moving average of $74.30. The company has a market capitalization of $5.38 billion, a price-to-earnings ratio of 43.06, a PEG ratio of 4.28 and a beta of 0.68. Ormat Technologies, Inc. has a 52 week low of $61.58 and a 52 week high of $91.81. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.90 and a current ratio of 0.97.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.10. The firm had revenue of $229.76 million during the quarter, compared to the consensus estimate of $228.33 million. Ormat Technologies had a net margin of 14.18% and a return on equity of 5.35%. The firm's quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.64 EPS. As a group, equities research analysts anticipate that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 21st were given a $0.12 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. Ormat Technologies's payout ratio is 23.30%.

Ormat Technologies Company 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.

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