Ormat Technologies, Inc. (NYSE:ORA) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,680 shares of the energy company’s stock after selling 1,647 shares during the period. New York State Teachers Retirement System’s holdings in Ormat Technologies were worth $2,401,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its stake in Ormat Technologies by 248.0% during the second quarter. IFP Advisors Inc now owns 428 shares of the energy company’s stock worth $34,000 after purchasing an additional 305 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Ormat Technologies by 43.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,008 shares of the energy company’s stock valued at $87,000 after purchasing an additional 303 shares during the period. Toroso Investments LLC boosted its holdings in Ormat Technologies by 15.8% in the third quarter. Toroso Investments LLC now owns 1,065 shares of the energy company’s stock valued at $91,000 after purchasing an additional 145 shares during the period. Lazard Asset Management LLC purchased a new position in Ormat Technologies in the second quarter valued at $110,000. Finally, FMR LLC boosted its holdings in Ormat Technologies by 13.0% in the second quarter. FMR LLC now owns 1,465 shares of the energy company’s stock valued at $115,000 after purchasing an additional 169 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Ormat Technologies Stock Performance

Shares of ORA stock opened at $60.97 on Tuesday. The stock has a market capitalization of $3.68 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 2.92 and a beta of 0.48. Ormat Technologies, Inc. has a 52-week low of $58.73 and a 52-week high of $88.64. The stock’s 50-day moving average price is $65.31 and its 200 day moving average price is $67.24. 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 (NYSE:ORA) last issued its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.07. The firm had revenue of $241.30 million for the quarter, compared to analysts’ expectations of $239.71 million. Ormat Technologies had a return on equity of 5.09% and a net margin of 15.00%. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 EPS. As a group, equities research analysts forecast that Ormat Technologies, Inc. will post 2.2 EPS for the current year.

Ormat Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date was Tuesday, March 5th. Ormat Technologies’s dividend payout ratio is presently 22.97%.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director Stanley Stern sold 1,825 shares of Ormat Technologies stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $66.95, for a total value of $122,183.75. Following the sale, the director now owns 4,835 shares of the company’s stock, valued at approximately $323,703.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

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.