Federated Hermes Inc. Sells 3,085 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Federated Hermes Inc. decreased its position in Ormat Technologies, Inc. (NYSE:ORA) by 41.4% during the 4th quarter, HoldingsChannel reports. The fund owned 4,367 shares of the energy company’s stock after selling 3,085 shares during the quarter. Federated Hermes Inc.’s holdings in Ormat Technologies were worth $331,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Raymond James & Associates grew its position in Ormat Technologies by 3.0% in the third quarter. Raymond James & Associates now owns 10,923 shares of the energy company’s stock valued at $764,000 after purchasing an additional 317 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Ormat Technologies by 6.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,059 shares of the energy company’s stock worth $1,333,000 after buying an additional 1,229 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Ormat Technologies by 4.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,179 shares of the energy company’s stock worth $3,439,000 after buying an additional 1,891 shares during the last quarter. Inspire Investing LLC grew its holdings in shares of Ormat Technologies by 12.8% in the 3rd quarter. Inspire Investing LLC now owns 4,400 shares of the energy company’s stock valued at $308,000 after acquiring an additional 501 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Ormat Technologies by 56.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,186 shares of the energy company’s stock valued at $223,000 after acquiring an additional 1,153 shares during the last quarter. 95.49% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Stanley Stern sold 1,825 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $66.95, for a total value of $122,183.75. Following the sale, the director now owns 4,835 shares of the company’s stock, valued at $323,703.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ORA has been the subject of a number of analyst reports. TD Cowen decreased their price target on Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating for the company in a research note on Friday, February 23rd. Barclays lowered their target price on shares of Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating on the stock in a report on Monday, February 5th. Finally, Oppenheimer cut their price target on shares of Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating for the company in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $81.00.

Ormat Technologies Stock Up 1.2 %

Shares of NYSE ORA opened at $67.50 on Friday. The stock’s fifty day moving average is $64.85 and its 200 day moving average is $66.88. Ormat Technologies, Inc. has a 52 week low of $58.73 and a 52 week high of $88.26. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.20. The stock has a market capitalization of $4.08 billion, a P/E ratio of 32.30, a PEG ratio of 3.12 and a beta of 0.48.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. The company had revenue of $241.30 million for the quarter, compared to the consensus estimate of $239.71 million. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company posted $0.73 EPS. Sell-side analysts forecast that Ormat Technologies, Inc. will post 2.14 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Tuesday, March 5th. Ormat Technologies’s dividend payout ratio (DPR) is currently 22.97%.

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.