Van Berkom & Associates Inc. Lowers Stake in Ormat Technologies, Inc. $ORA

Key Points

• Van Berkom & Associates cut its stake in Ormat by 22.5% in Q4, selling 201,711 shares and finishing the period with 693,124 shares (about 2.2% of Van Berkom’s portfolio and 1.14% of Ormat, valued at ~$76.57M).
• Q4 results: Ormat reported EPS of $0.67, in line with estimates, and revenue of $276.04M which beat consensus and rose 19.6% year-over-year.
• Stock profile and outlook: Ormat has a $7.04B market cap, P/E of 57.03, 52‑week range $70.42–$132.58, a $0.12 quarterly dividend (annual $0.48, ~0.4% yield), 95.49% institutional ownership, and a consensus analyst rating of “Moderate Buy” with a $128.64 target.

Van Berkom & Associates Inc. reduced its position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 22.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 693,124 shares of the energy company's stock after selling 201,711 shares during the quarter. Ormat Technologies accounts for about 2.2% of Van Berkom & Associates Inc.'s investment portfolio, making the stock its 25th biggest holding. Van Berkom & Associates Inc. owned 1.14% of Ormat Technologies worth $76,569,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Signaturefd LLC increased its stake in Ormat Technologies by 13.0% during the 4th quarter. Signaturefd LLC now owns 746 shares of the energy company's stock valued at $82,000 after purchasing an additional 86 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Ormat Technologies by 43.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company's stock valued at $35,000 after purchasing an additional 113 shares in the last quarter. CWM LLC increased its stake in Ormat Technologies by 14.2% during the 4th quarter. CWM LLC now owns 1,254 shares of the energy company's stock valued at $139,000 after purchasing an additional 156 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in Ormat Technologies by 4.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,803 shares of the energy company's stock valued at $366,000 after purchasing an additional 158 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in Ormat Technologies by 4.7% during the 3rd quarter. Mackenzie Financial Corp now owns 3,862 shares of the energy company's stock valued at $372,000 after purchasing an additional 175 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors.

Ormat Technologies Stock Performance

Shares of ORA stock opened at $114.64 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $7.04 billion, a PE ratio of 57.03, a P/E/G ratio of 4.97 and a beta of 0.80. The company has a 50 day moving average price of $111.13 and a 200-day moving average price of $113.30. Ormat Technologies, Inc. has a 52 week low of $70.42 and a 52 week high of $132.58.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The energy company reported $0.67 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.67. The company had revenue of $276.04 million for the quarter, compared to the consensus estimate of $257.75 million. Ormat Technologies had a net margin of 12.52% and a return on equity of 5.21%. The firm's revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.67 earnings per share. As a group, equities research analysts expect that Ormat Technologies, Inc. will post 2.28 earnings per share for the current year.

Ormat Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.4%. Ormat Technologies's dividend payout ratio (DPR) is presently 23.88%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ORA. Roth Mkm set a $139.00 price objective on shares of Ormat Technologies in a research note on Wednesday, January 28th. JPMorgan Chase & Co. reduced their price objective on shares of Ormat Technologies from $108.00 to $106.00 and set a "neutral" rating for the company in a research note on Thursday, April 16th. Royal Bank Of Canada assumed coverage on shares of Ormat Technologies in a research note on Tuesday, March 3rd. They set an "outperform" rating and a $130.00 price objective for the company. Jefferies Financial Group lowered shares of Ormat Technologies from a "buy" rating to a "hold" rating and lifted their price target for the stock from $125.00 to $130.00 in a research note on Friday, February 13th. Finally, Citigroup lifted their price target on shares of Ormat Technologies from $110.00 to $128.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 18th. Eight investment 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, the stock has an average rating of "Moderate Buy" and a consensus target price of $128.64.

Insider Activity

In related news, insider Jessica Woelfel sold 2,359 shares of the firm's stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $105.16, for a total value of $248,072.44. Following the transaction, the insider owned 3,433 shares of the company's stock, valued at approximately $361,014.28. This trade represents a 40.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 3,364 shares of company stock valued at $353,621 over the last quarter. Company insiders own 0.56% of the company's stock.

Ormat Technologies 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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