Ormat Technologies, Inc. (ORA) Stake Raised by Trillium Asset Management LLC
Trillium Asset Management LLC lifted its position in Ormat Technologies, Inc. (NYSE:ORA) by 1.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 232,866 shares of the energy company’s stock after purchasing an additional 3,166 shares during the period. Trillium Asset Management LLC’s holdings in Ormat Technologies were worth $12,843,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in ORA. Clean Yield Group purchased a new stake in Ormat Technologies in the fourth quarter valued at approximately $51,000. Strs Ohio purchased a new stake in Ormat Technologies in the fourth quarter valued at approximately $52,000. Private Capital Group LLC raised its stake in Ormat Technologies by 28.2% in the first quarter. Private Capital Group LLC now owns 941 shares of the energy company’s stock valued at $52,000 after purchasing an additional 207 shares in the last quarter. Psagot Investment House Ltd. raised its stake in Ormat Technologies by 16.5% in the fourth quarter. Psagot Investment House Ltd. now owns 2,303 shares of the energy company’s stock valued at $120,000 after purchasing an additional 326 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Ormat Technologies by 15.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,775 shares of the energy company’s stock valued at $197,000 after purchasing an additional 506 shares in the last quarter. 75.48% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on the stock. ValuEngine raised shares of Ormat Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. JPMorgan Chase & Co. downgraded shares of Ormat Technologies from an “overweight” rating to a “neutral” rating and set a $60.00 target price on the stock. in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $64.25.
Ormat Technologies (NYSE:ORA) last announced its earnings results on Monday, May 6th. The energy company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The business had revenue of $199.04 million for the quarter, compared to the consensus estimate of $183.62 million. Ormat Technologies had a net margin of 7.41% and a return on equity of 5.86%. Ormat Technologies’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm posted $0.48 earnings per share. On average, equities analysts anticipate that Ormat Technologies, Inc. will post 1.92 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, May 20th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Friday, May 17th. Ormat Technologies’s dividend payout ratio (DPR) is presently 21.15%.
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About Ormat Technologies
Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, New Zealand, and internationally. The company operates through three segments: Electricity, Product, and Other. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity.
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