Ormat Technologies, Inc. (NYSE:ORA) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,801 shares of the energy company’s stock after selling 510 shares during the period. State of Alaska Department of Revenue’s holdings in Ormat Technologies were worth $439,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. IFP Advisors Inc raised its stake in Ormat Technologies by 248.0% in the second quarter. IFP Advisors Inc now owns 428 shares of the energy company’s stock valued at $34,000 after buying an additional 305 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Ormat Technologies by 43.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,008 shares of the energy company’s stock worth $87,000 after purchasing an additional 303 shares in the last quarter. Toroso Investments LLC grew its position in Ormat Technologies by 15.8% during the 3rd 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. Lazard Asset Management LLC acquired a new position in Ormat Technologies during the 2nd quarter valued at approximately $110,000. Finally, FMR LLC raised its holdings in shares of Ormat Technologies by 13.0% in the second quarter. FMR LLC now owns 1,465 shares of the energy company’s stock worth $115,000 after buying an additional 169 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Insider Buying and Selling

In related news, Director Stanley Stern sold 1,825 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $66.95, for a total transaction of $122,183.75. Following the sale, the director now directly owns 4,835 shares of the company’s stock, valued at approximately $323,703.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating on the stock in a report on Monday, February 5th. Oppenheimer reduced their price target on shares of Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. Finally, TD Cowen lowered their target price on Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating on the stock in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $81.00.

Ormat Technologies Stock Down 2.7 %

ORA stock opened at $64.30 on Friday. The stock has a market capitalization of $3.88 billion, a P/E ratio of 30.77, a P/E/G ratio of 2.93 and a beta of 0.48. The firm has a 50-day simple moving average of $65.37 and a 200-day simple moving average of $67.36. The company has a quick ratio of 1.12, a current ratio of 1.20 and a debt-to-equity ratio of 0.64. Ormat Technologies, Inc. has a 52 week low of $58.73 and a 52 week high of $88.64.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The firm had revenue of $241.30 million for the quarter, compared to analyst estimates of $239.71 million. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. Ormat Technologies’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.73 earnings per share. Equities analysts forecast that Ormat Technologies, Inc. will post 2.2 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.48 annualized dividend and a dividend yield of 0.75%. Ormat Technologies’s dividend payout ratio is currently 22.97%.

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.