Meitav Investment House Ltd. trimmed its position in shares of Ormat Technologies, Inc. (NYSE:ORA – Free Report) by 28.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 672,864 shares of the energy company’s stock after selling 265,850 shares during the quarter. Meitav Investment House Ltd. owned 1.12% of Ormat Technologies worth $54,152,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Creative Planning lifted its stake in shares of Ormat Technologies by 2.1% during the 2nd quarter. Creative Planning now owns 5,429 shares of the energy company’s stock worth $425,000 after acquiring an additional 111 shares during the last quarter. Guinness Atkinson Asset Management Inc lifted its position in shares of Ormat Technologies by 0.8% during the second quarter. Guinness Atkinson Asset Management Inc now owns 15,750 shares of the energy company’s stock worth $1,267,000 after purchasing an additional 126 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Ormat Technologies by 4.4% during the fourth quarter. Mackenzie Financial Corp now owns 3,097 shares of the energy company’s stock valued at $268,000 after purchasing an additional 131 shares during the period. Toroso Investments LLC grew its holdings in shares of Ormat Technologies by 15.8% in the third quarter. Toroso Investments LLC now owns 1,065 shares of the energy company’s stock worth $91,000 after purchasing an additional 145 shares during the last quarter. Finally, Harrington Investments INC increased its stake in Ormat Technologies by 2.6% in the 2nd quarter. Harrington Investments INC now owns 6,260 shares of the energy company’s stock worth $504,000 after buying an additional 160 shares during the period. Institutional investors own 88.24% of the company’s stock.
Analyst Upgrades and Downgrades
ORA has been the subject of several research reports. StockNews.com assumed coverage on shares of Ormat Technologies in a research report on Thursday, October 5th. They issued a “sell” rating for the company. Oppenheimer dropped their price objective on Ormat Technologies from $96.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, October 12th. Roth Capital raised Ormat Technologies from a “neutral” rating to a “buy” rating in a research report on Monday, August 7th. JPMorgan Chase & Co. dropped their price target on Ormat Technologies from $89.00 to $79.00 and set a “neutral” rating on the stock in a research report on Thursday, October 19th. Finally, TheStreet downgraded Ormat Technologies from a “b-” rating to a “c+” rating in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $89.14.
Ormat Technologies Price Performance
Shares of ORA stock opened at $64.25 on Wednesday. The stock’s 50-day moving average is $68.14 and its 200 day moving average is $76.87. Ormat Technologies, Inc. has a 1-year low of $58.73 and a 1-year high of $100.55. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.95 and a quick ratio of 0.87. The company has a market cap of $3.88 billion, a P/E ratio of 35.30, a PEG ratio of 1.35 and a beta of 0.48.
Ormat Technologies (NYSE:ORA – Get Free Report) last released its quarterly earnings results on Wednesday, November 8th. The energy company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.11. Ormat Technologies had a net margin of 13.45% and a return on equity of 5.35%. The business had revenue of $208.06 million for the quarter, compared to analysts’ expectations of $210.69 million. Research analysts predict that Ormat Technologies, Inc. will post 1.93 earnings per share for the current fiscal year.
Ormat Technologies Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 6th. Stockholders of record on Wednesday, November 22nd will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Tuesday, November 21st. Ormat Technologies’s payout ratio is presently 26.37%.
Insider Transactions at Ormat Technologies
In other news, Director Isaac Angel sold 25,144 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $75.60, for a total value of $1,900,886.40. Following the completion of the sale, the director now owns 41,933 shares of the company’s stock, valued at approximately $3,170,134.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ormat Technologies news, CEO Doron Blachar sold 11,315 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $75.58, for a total transaction of $855,187.70. Following the transaction, the chief executive officer now owns 17,934 shares in the company, valued at approximately $1,355,451.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Isaac Angel sold 25,144 shares of Ormat Technologies stock in a transaction on Friday, September 1st. The stock was sold at an average price of $75.60, for a total transaction of $1,900,886.40. Following the sale, the director now owns 41,933 shares of the company’s stock, valued at $3,170,134.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,032 shares of company stock valued at $4,762,366. Corporate insiders own 1.00% of the company’s stock.
Ormat Technologies Profile
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.
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