Ormat Technologies, Inc. $ORA Shares Sold by Amundi

Amundi lowered its position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 38.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 283,522 shares of the energy company's stock after selling 174,015 shares during the period. Amundi owned 0.46% of Ormat Technologies worth $30,892,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Ormat Technologies during the second quarter valued at $896,374,000. California State Teachers Retirement System lifted its holdings in Ormat Technologies by 10,926.5% in the second quarter. California State Teachers Retirement System now owns 7,680,935 shares of the energy company's stock worth $836,454,000 after purchasing an additional 7,611,276 shares during the period. Clal Insurance Enterprises Holdings Ltd bought a new position in Ormat Technologies in the 2nd quarter valued at about $259,568,000. Dimensional Fund Advisors LP grew its position in Ormat Technologies by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,910,292 shares of the energy company's stock valued at $211,036,000 after buying an additional 43,749 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Ormat Technologies by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 1,611,360 shares of the energy company's stock valued at $178,033,000 after buying an additional 102,864 shares during the period. Institutional investors and hedge funds own 95.49% of the company's stock.

Ormat Technologies News Summary

Here are the key news stories impacting Ormat Technologies this week:

• Positive Sentiment: RBC reaffirmed its “outperform” rating and set a $130 price target, implying substantial upside from recent levels. RBC rating and price target
• Positive Sentiment: JPMorgan raised its price target from $122 to $131. Although the firm remains neutral, the higher target indicates confidence in Ormat’s longer-term valuation potential. JPMorgan rating and price target
• Positive Sentiment: Oppenheimer said Ormat’s 2030 targets appear achievable and imply a potential recovery in electricity margins to 40%, while RBC expects earnings growth through 2030. Oppenheimer margin outlook RBC earnings outlook
• Neutral Sentiment: Investor Day presentations and the accompanying transcript provide additional detail on Ormat’s strategic and financial targets, but they do not appear to introduce a major new near-term catalyst. Investor Day transcript
• Neutral Sentiment: A Zacks comparison of Ormat and National Grid is focused on which alternative-energy stock offers better value. The analysis may increase investor attention, but the headline does not establish Ormat as the preferred choice. Zacks value comparison

Ormat Technologies Stock Down 2.4%

NYSE ORA opened at $96.43 on Friday. Ormat Technologies, Inc. has a 12 month low of $90.77 and a 12 month high of $146.39. The company has a market capitalization of $5.93 billion, a P/E ratio of 47.50, a PEG ratio of 4.00 and a beta of 0.90. The company's 50 day simple moving average is $105.81 and its 200 day simple moving average is $114.84. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.05 and a quick ratio of 1.00.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.24. The company had revenue of $258.76 million during the quarter, compared to the consensus estimate of $240.03 million. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.66%.The company's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 EPS. Equities research analysts expect that Ormat Technologies, Inc. will post 2.47 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Wednesday, August 19th. Ormat Technologies's dividend payout ratio (DPR) is presently 23.65%.

Analyst Upgrades and Downgrades

ORA has been the topic of a number of recent analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Ormat Technologies in a research report on Friday, July 17th. Jefferies Financial Group reiterated a "hold" rating and issued a $117.00 price objective on shares of Ormat Technologies in a report on Wednesday. Wolfe Research began coverage on shares of Ormat Technologies in a research note on Monday, June 8th. They set a "peer perform" rating on the stock. Piper Sandler boosted their target price on Ormat Technologies from $125.00 to $142.00 and gave the stock an "overweight" rating in a report on Monday, May 18th. Finally, Sanford C. Bernstein upgraded Ormat Technologies from an "underperform" rating to a "market perform" rating and set a $112.00 target price for the company in a research report on Friday, September 4th. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $130.75.

Ormat Technologies Company Profile

Ormat Technologies, Inc is a renewable energy company that develops, owns, and operates geothermal, recovered energy, and energy storage facilities. The company also designs and manufactures equipment used to generate electricity from geothermal resources and waste heat, including its Ormat Energy Converter systems.

Ormat's geothermal activities include the exploration and development of geothermal resources, power plant construction, and long-term operation and maintenance. Its recovered energy business converts industrial waste heat and other low-temperature heat sources into electricity.

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