Trillium Asset Management LLC Trims Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

Trillium Asset Management LLC cut its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 4.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 293,539 shares of the energy company’s stock after selling 14,946 shares during the quarter. Trillium Asset Management LLC owned approximately 0.49% of Ormat Technologies worth $19,878,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ORA. Versant Capital Management Inc grew its stake in shares of Ormat Technologies by 132.4% during the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock valued at $27,000 after acquiring an additional 229 shares during the period. AlphaQuest LLC grew its stake in shares of Ormat Technologies by 4,691.7% during the 4th quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock valued at $39,000 after acquiring an additional 563 shares during the period. Mendota Financial Group LLC bought a new position in shares of Ormat Technologies during the 4th quarter valued at approximately $98,000. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Ormat Technologies during the 4th quarter valued at approximately $182,000. Finally, Raymond James Financial Inc. bought a new position in shares of Ormat Technologies during the 4th quarter valued at approximately $204,000. 95.49% of the stock is currently owned by institutional investors.

Insider Activity

In other Ormat Technologies news, Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $69.00, for a total transaction of $114,954.00. Following the completion of the transaction, the director now directly owns 1,910 shares of the company’s stock, valued at $131,790. The trade was a 46.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Ormat Technologies Trading Down 0.8 %

ORA stock opened at $72.10 on Wednesday. The firm has a fifty day moving average price of $66.97 and a 200 day moving average price of $72.96. Ormat Technologies, Inc. has a fifty-two week low of $59.41 and a fifty-two week high of $84.30. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. The firm has a market cap of $4.36 billion, a PE ratio of 36.79, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Wednesday, March 12th. Ormat Technologies’s dividend payout ratio (DPR) is 23.53%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ORA. Piper Sandler began coverage on Ormat Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $78.00 price objective for the company. Jefferies Financial Group raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and increased their price objective for the company from $73.00 to $78.00 in a report on Thursday, February 20th. JPMorgan Chase & Co. lifted their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. Finally, Robert W. Baird started coverage on shares of Ormat Technologies in a research report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $82.67.

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.