Ormat Technologies, Inc. (NYSE:ORA) Position Lessened by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its stake in Ormat Technologies, Inc. (NYSE:ORA) by 96.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,563 shares of the energy company’s stock after selling 120,498 shares during the period. Assenagon Asset Management S.A.’s holdings in Ormat Technologies were worth $346,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Guinness Asset Management LTD lifted its holdings in shares of Ormat Technologies by 5.7% in the 3rd quarter. Guinness Asset Management LTD now owns 518,360 shares of the energy company’s stock worth $36,234,000 after purchasing an additional 28,058 shares during the last quarter. Guinness Atkinson Asset Management Inc lifted its holdings in shares of Ormat Technologies by 1.2% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 15,944 shares of the energy company’s stock worth $1,115,000 after purchasing an additional 194 shares during the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of Ormat Technologies by 32.1% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 185,147 shares of the energy company’s stock worth $12,945,000 after purchasing an additional 44,979 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Ormat Technologies by 11.6% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 123,789 shares of the energy company’s stock worth $8,655,000 after purchasing an additional 12,897 shares during the last quarter. Finally, Bailard Inc. lifted its holdings in shares of Ormat Technologies by 28.7% in the 3rd quarter. Bailard Inc. now owns 20,889 shares of the energy company’s stock worth $1,461,000 after purchasing an additional 4,659 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Stock Up 1.7 %

Shares of ORA stock opened at $64.84 on Tuesday. Ormat Technologies, Inc. has a 1 year low of $58.73 and a 1 year high of $88.64. The stock has a market cap of $3.92 billion, a PE ratio of 31.02, a price-to-earnings-growth ratio of 2.89 and a beta of 0.48. The business’s fifty day moving average is $65.39 and its 200-day moving average is $67.50. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.20.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.07. Ormat Technologies had a return on equity of 5.09% and a net margin of 15.00%. The company had revenue of $241.30 million for the quarter, compared to analysts’ expectations of $239.71 million. During the same period last year, the firm earned $0.73 EPS. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. Equities analysts expect that Ormat Technologies, Inc. will post 2.2 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Tuesday, March 5th. Ormat Technologies’s dividend payout ratio (DPR) is presently 22.97%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ORA. Barclays cut their target price on Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Monday, February 5th. TD Cowen cut their target price on Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating on the stock in a research note on Friday, February 23rd. Finally, Oppenheimer cut their target price on Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating on the stock in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $81.00.

Insider Activity

In other news, Director Stanley Stern sold 1,825 shares of Ormat Technologies stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $66.95, for a total transaction of $122,183.75. Following the transaction, the director now directly owns 4,835 shares in the company, valued at approximately $323,703.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.46% of the stock is owned by insiders.

About Ormat Technologies

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.