Jupiter Asset Management Ltd. Has $12.25 Million Position in Ormat Technologies, Inc. (NYSE:ORA)

Jupiter Asset Management Ltd. raised its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 0.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 185,124 shares of the energy company’s stock after buying an additional 148 shares during the period. Jupiter Asset Management Ltd. owned 0.31% of Ormat Technologies worth $12,253,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Ormat Technologies by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 5,285,456 shares of the energy company’s stock worth $369,559,000 after purchasing an additional 42,266 shares during the last quarter. Raymond James & Associates increased its stake in shares of Ormat Technologies by 6.8% during the 4th quarter. Raymond James & Associates now owns 11,666 shares of the energy company’s stock worth $884,000 after purchasing an additional 743 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Ormat Technologies by 79.8% during the 4th quarter. Pacer Advisors Inc. now owns 8,072 shares of the energy company’s stock worth $612,000 after purchasing an additional 3,583 shares during the last quarter. Harrington Investments INC increased its stake in shares of Ormat Technologies by 3.2% during the 4th quarter. Harrington Investments INC now owns 6,510 shares of the energy company’s stock worth $493,000 after purchasing an additional 200 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in shares of Ormat Technologies during the 4th quarter worth about $1,516,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Stock Performance

Shares of NYSE:ORA traded down $1.12 during trading on Friday, reaching $73.93. 301,298 shares of the stock were exchanged, compared to its average volume of 533,912. Ormat Technologies, Inc. has a 12 month low of $58.73 and a 12 month high of $84.89. The firm has a market cap of $4.47 billion, a PE ratio of 33.30, a PEG ratio of 3.69 and a beta of 0.51. The stock has a 50-day moving average price of $73.16 and a 200-day moving average price of $68.58. The company has a current ratio of 1.12, a quick ratio of 1.02 and a debt-to-equity ratio of 0.73.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Wednesday, May 8th. The energy company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.03). The firm had revenue of $224.17 million for the quarter, compared to the consensus estimate of $224.38 million. Ormat Technologies had a return on equity of 5.45% and a net margin of 15.43%. Research analysts expect that Ormat Technologies, Inc. will post 2 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Tuesday, May 21st. Ormat Technologies’s dividend payout ratio (DPR) is currently 21.62%.

Wall Street Analyst Weigh In

ORA has been the topic of several recent analyst reports. UBS Group boosted their price objective on shares of Ormat Technologies from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Barclays cut their target price on shares of Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating for the company in a research note on Monday, May 13th. Oppenheimer upped their price target on shares of Ormat Technologies from $83.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. JPMorgan Chase & Co. increased their price target on shares of Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Finally, TD Cowen raised their price objective on shares of Ormat Technologies from $70.00 to $76.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Ormat Technologies presently has a consensus rating of “Hold” and an average price target of $83.50.

Insider Activity at Ormat Technologies

In related news, Director David Granot sold 686 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $73.46, for a total value of $50,393.56. Following the completion of the sale, the director now directly owns 4,832 shares in the company, valued at $354,958.72. The sale was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

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.