Ormat Technologies, Inc. $ORA Position Trimmed by TT International Asset Management LTD

Key Points

• TT International Asset Management LTD has reduced its stake in Ormat Technologies by 17.7%, now owning 13,914 shares worth approximately $1.165 million.
• Ormat Technologies reported an earnings per share (EPS) of $0.48 for the last quarter, exceeding the consensus estimate of $0.37, with revenues increasing by 9.9% year-over-year.
• The company declared a quarterly dividend of $0.12 per share, representing an annualized yield of 0.5%, with a current dividend payout ratio of 22.33%.

TT International Asset Management LTD lowered its stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 17.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,914 shares of the energy company's stock after selling 2,987 shares during the quarter. TT International Asset Management LTD's holdings in Ormat Technologies were worth $1,165,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ORA. UMB Bank n.a. lifted its holdings in Ormat Technologies by 42.6% in the first 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 period. Signaturefd LLC lifted its holdings in Ormat Technologies by 60.6% in the first quarter. Signaturefd LLC now owns 890 shares of the energy company's stock worth $63,000 after purchasing an additional 336 shares during the period. CWM LLC lifted its holdings in Ormat Technologies by 294.2% in the first quarter. CWM LLC now owns 887 shares of the energy company's stock worth $63,000 after purchasing an additional 662 shares during the period. Russell Investments Group Ltd. lifted its holdings in Ormat Technologies by 30.7% in the first quarter. Russell Investments Group Ltd. now owns 1,072 shares of the energy company's stock worth $76,000 after purchasing an additional 252 shares during the period. Finally, Gitterman Wealth Management LLC acquired a new stake in Ormat Technologies in the 1st quarter valued at about $202,000. Institutional investors and hedge funds own 95.49% of the company's stock.

Ormat Technologies Stock Performance

Shares of NYSE ORA opened at $92.37 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.77. The business has a fifty day simple moving average of $89.97 and a 200 day simple moving average of $79.96. Ormat Technologies, Inc. has a one year low of $61.58 and a one year high of $95.36. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 42.96, a PEG ratio of 4.23 and a beta of 0.69.

Ormat Technologies (NYSE:ORA - Get Free Report) last released its quarterly earnings data 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. Ormat Technologies had a return on equity of 5.47% and a net margin of 14.49%.The firm had revenue of $234.02 million during the quarter, compared to analyst estimates of $225.26 million. During the same period in the prior year, the company posted $0.37 earnings per share. The business's revenue for the quarter was up 9.9% compared to the same quarter last year. Sell-side analysts expect that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.5%. The ex-dividend date was Wednesday, August 20th. Ormat Technologies's dividend payout ratio is currently 22.33%.

Insider Activity

In other Ormat Technologies news, Director Byron G. Wong sold 535 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $91.39, for a total transaction of $48,893.65. Following the completion of the transaction, the director directly owned 8,659 shares in the company, valued at $791,346.01. This represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dafna Sharir sold 1,601 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $85.63, for a total value of $137,093.63. Following the transaction, the director owned 3,238 shares of the company's stock, valued at $277,269.94. This represents a 33.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,976 shares of company stock valued at $1,105,067. 0.56% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ORA shares. Barclays cut their price target on shares of Ormat Technologies from $90.00 to $89.00 and set an "overweight" rating for the company in a report on Friday, August 8th. TD Cowen upped their target price on Ormat Technologies from $76.00 to $85.00 and gave the company a "hold" rating in a report on Friday, August 8th. Piper Sandler raised Ormat Technologies from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $90.00 to $102.00 in a research note on Wednesday. Roth Capital reissued a "buy" rating and issued a $98.00 price target (up previously from $88.00) on shares of Ormat Technologies in a research note on Tuesday, August 5th. Finally, Cowen reaffirmed a "hold" rating on shares of Ormat Technologies in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Ormat Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $94.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.