Trillium Asset Management LLC Has $20.08 Million Stake in Ormat Technologies, Inc. $ORA

Key Points

• Trillium Asset Management cut its Ormat Technologies stake by 27.1% in the fourth quarter, leaving it with 179,073 shares valued at about $20.1 million.
• Ormat reported better-than-expected first-quarter earnings, with EPS of $1.30 versus the $0.92 consensus and revenue of $403.91 million, up 75.8% year over year.
• Analysts remain cautiously positive overall: Ormat has a Moderate Buy consensus rating, though recent insider sales and mixed rating changes show some caution around the stock.

Trillium Asset Management LLC trimmed its position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 27.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 179,073 shares of the energy company's stock after selling 66,472 shares during the quarter. Trillium Asset Management LLC owned 0.29% of Ormat Technologies worth $20,075,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Ormat Technologies by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,910,292 shares of the energy company's stock valued at $211,036,000 after purchasing an additional 43,749 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Ormat Technologies by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 1,611,360 shares of the energy company's stock valued at $178,033,000 after purchasing an additional 102,864 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Ormat Technologies by 62.6% in the second quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company's stock valued at $89,928,000 after purchasing an additional 413,384 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in Ormat Technologies by 155.8% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 886,526 shares of the energy company's stock valued at $97,935,000 after acquiring an additional 540,000 shares during the period. Finally, Norges Bank bought a new stake in Ormat Technologies in the fourth quarter valued at $86,545,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Stock Performance

Shares of NYSE:ORA opened at $138.43 on Friday. The business's fifty day moving average price is $124.61 and its two-hundred day moving average price is $118.26. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.07 and a quick ratio of 1.02. The stock has a market capitalization of $8.51 billion, a price-to-earnings ratio of 67.20, a price-to-earnings-growth ratio of 5.81 and a beta of 0.85. Ormat Technologies, Inc. has a fifty-two week low of $78.24 and a fifty-two week high of $146.39.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its earnings results on Wednesday, May 6th. The energy company reported $1.30 EPS for the quarter, topping the consensus estimate of $0.92 by $0.38. The company had revenue of $403.91 million for the quarter, compared to analysts' expectations of $349.17 million. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.97%.The business's revenue for the quarter was up 75.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. As a group, analysts predict that Ormat Technologies, Inc. will post 2.35 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 20th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Wednesday, May 20th. Ormat Technologies's dividend payout ratio is presently 23.30%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ORA shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Ormat Technologies in a research report on Tuesday, April 21st. TD Cowen lowered their price target on Ormat Technologies from $131.00 to $125.00 and set a "buy" rating on the stock in a research report on Friday, February 27th. Jefferies Financial Group cut Ormat Technologies from a "buy" rating to a "hold" rating and upped their price target for the company from $125.00 to $130.00 in a research report on Friday, February 13th. UBS Group upped their price target on Ormat Technologies from $143.00 to $152.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Finally, Royal Bank Of Canada started coverage on Ormat Technologies in a research report on Tuesday, March 3rd. They issued an "outperform" rating and a $130.00 price target on the stock. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Ormat Technologies presently has an average rating of "Moderate Buy" and an average price target of $133.18.

Insider Activity at Ormat Technologies

In other news, Director Byron G. Wong sold 4,500 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $134.32, for a total transaction of $604,440.00. Following the sale, the director owned 5,925 shares in the company, valued at approximately $795,846. This represents a 43.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Assi Ginzburg sold 17,776 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $134.75, for a total value of $2,395,316.00. Following the sale, the chief financial officer owned 1,970 shares in the company, valued at $265,457.50. The trade was a 90.02% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 30,721 shares of company stock valued at $4,105,657. 0.56% of the stock is currently owned by company insiders.

About Ormat Technologies

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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