Log Out

Neuberger Berman Group LLC Trims Stock Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Defense World · Sep 18, 2022 04:11

Neuberger Berman Group LLC decreased its holdings in Ormat Technologies, Inc. (NYSE:ORA – Get Rating) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 921,266 shares of the energy company's stock after selling 24,243 shares during the period. Neuberger Berman Group LLC owned 1.64% of Ormat Technologies worth $75,302,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ORA. BlackRock Inc. grew its stake in Ormat Technologies by 0.5% during the first quarter. BlackRock Inc. now owns 4,650,385 shares of the energy company's stock valued at $380,541,000 after acquiring an additional 20,844 shares in the last quarter. Impax Asset Management Group plc grew its stake in Ormat Technologies by 7.5% during the fourth quarter. Impax Asset Management Group plc now owns 3,284,722 shares of the energy company's stock valued at $259,355,000 after acquiring an additional 228,905 shares in the last quarter. State Street Corp grew its stake in Ormat Technologies by 1.1% during the first quarter. State Street Corp now owns 1,156,974 shares of the energy company's stock valued at $94,675,000 after acquiring an additional 13,096 shares in the last quarter. Geode Capital Management LLC grew its stake in Ormat Technologies by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 772,308 shares of the energy company's stock valued at $61,244,000 after acquiring an additional 10,304 shares in the last quarter. Finally, Guinness Asset Management LTD grew its stake in Ormat Technologies by 5.6% during the first quarter. Guinness Asset Management LTD now owns 424,157 shares of the energy company's stock valued at $34,709,000 after acquiring an additional 22,637 shares in the last quarter. Hedge funds and other institutional investors own 92.42% of the company's stock.

Get Ormat Technologies alerts:

Insider Transactions at Ormat Technologies

In other news, Director David Granot sold 455 shares of the business's stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $93.00, for a total value of $42,315.00. Following the completion of the sale, the director now directly owns 2,922 shares in the company, valued at approximately $271,746. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Stanley Stern sold 7,500 shares of the company's stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $96.85, for a total transaction of $726,375.00. Following the completion of the sale, the director now directly owns 6,037 shares in the company, valued at approximately $584,683.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Granot sold 455 shares of the company's stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $93.00, for a total transaction of $42,315.00. Following the sale, the director now owns 2,922 shares of the company's stock, valued at $271,746. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,481 shares of company stock worth $1,208,617. 1.30% of the stock is currently owned by insiders.

Ormat Technologies Trading Up 0.4 %

Shares of ORA opened at $95.44 on Friday. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of 84.46, a PEG ratio of 6.73 and a beta of 0.47. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.57 and a current ratio of 1.66. Ormat Technologies, Inc. has a fifty-two week low of $60.32 and a fifty-two week high of $98.11. The firm has a 50 day moving average price of $89.71 and a 200-day moving average price of $82.52.

Ormat Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th were issued a $0.12 dividend. The ex-dividend date was Tuesday, August 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.50%. Ormat Technologies's payout ratio is 42.48%.

Analyst Ratings Changes

ORA has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Ormat Technologies from $90.00 to $97.00 and gave the company a "neutral" rating in a research report on Monday, August 8th. StockNews.com upgraded shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research report on Thursday, August 4th. Oppenheimer lifted their target price on shares of Ormat Technologies from $85.00 to $97.00 and gave the company an "outperform" rating in a research report on Monday, August 8th. Finally, Cowen lifted their target price on shares of Ormat Technologies to $84.00 in a research report on Tuesday, August 9th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Ormat Technologies presently has an average rating of "Hold" and an average target price of $88.25.

About Ormat Technologies

(Get Rating)

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guadeloupe, Guatemala, Ethiopia, New Zealand, Honduras, and internationally. It operates through 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.