Assenagon Asset Management S.A. Has $4.34 Million Holdings in Ormat Technologies, Inc. $ORA

Assenagon Asset Management S.A. boosted its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 30.9% in the first quarter, Holdings Channel.com reports. The firm owned 38,757 shares of the energy company’s stock after acquiring an additional 9,139 shares during the period. Assenagon Asset Management S.A.’s holdings in Ormat Technologies were worth $4,338,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Aster Capital Management DIFC Ltd acquired a new stake in shares of Ormat Technologies in the fourth quarter valued at about $26,000. Caitong International Asset Management Co. Ltd acquired a new position in Ormat Technologies during the fourth quarter valued at approximately $31,000. Los Angeles Capital Management LLC bought a new position in Ormat Technologies in the fourth quarter valued at approximately $32,000. Wolff Wiese Magana LLC bought a new position in Ormat Technologies in the fourth quarter valued at approximately $33,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Ormat Technologies by 245.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company’s stock worth $33,000 after purchasing an additional 211 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Trading Down 5.1%

Shares of Ormat Technologies stock opened at $110.15 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.07 and a quick ratio of 1.02. The business has a fifty day simple moving average of $127.28 and a two-hundred day simple moving average of $119.34. Ormat Technologies, Inc. has a 1 year low of $82.33 and a 1 year high of $146.39. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 53.47, a P/E/G ratio of 4.95 and a beta of 0.85.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.30 EPS for the quarter, beating the consensus estimate of $0.92 by $0.38. The firm had revenue of $403.91 million for the quarter, compared to the consensus estimate of $349.17 million. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The company’s quarterly revenue was up 75.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share. Research analysts forecast that Ormat Technologies, Inc. will post 2.35 EPS for the current year.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 20th were paid a $0.12 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. Ormat Technologies’s dividend payout ratio is 23.30%.

Insider Transactions at Ormat Technologies

In other news, Director Dafna Sharir sold 883 shares of Ormat Technologies stock in a transaction on Monday, May 11th. The stock was sold at an average price of $122.44, for a total transaction of $108,114.52. Following the completion of the sale, the director owned 3,140 shares of the company’s stock, valued at approximately $384,461.60. This trade represents a 21.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Granot sold 1,766 shares of Ormat Technologies stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $134.43, for a total transaction of $237,403.38. Following the completion of the sale, the director owned 1,766 shares of the company’s stock, valued at $237,403.38. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 30,585 shares of company stock worth $4,090,998. 0.56% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ORA shares. Sanford C. Bernstein initiated coverage on Ormat Technologies in a research note on Tuesday, June 16th. They set an “underperform” rating and a $115.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on shares of Ormat Technologies from $106.00 to $123.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Barclays increased their price target on shares of Ormat Technologies from $123.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Roth Mkm restated a “buy” rating and set a $135.00 price objective on shares of Ormat Technologies in a research note on Monday, May 11th. Finally, Wolfe Research assumed coverage on shares of Ormat Technologies in a research note on Monday, June 8th. They issued a “peer perform” rating for the company. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.67.

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.