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

New York State Common Retirement Fund trimmed its stake in Ormat Technologies, Inc. (NYSE:ORA) by 3.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,975 shares of the energy company’s stock after selling 789 shares during the period. New York State Common Retirement Fund’s holdings in Ormat Technologies were worth $1,665,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Ormat Technologies during the third quarter worth about $204,000. Allspring Global Investments Holdings LLC boosted its position in shares of Ormat Technologies by 56.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,186 shares of the energy company’s stock valued at $223,000 after purchasing an additional 1,153 shares during the period. Prime Capital Investment Advisors LLC purchased a new position in Ormat Technologies during the 4th quarter worth approximately $257,000. Inspire Investing LLC increased its position in Ormat Technologies by 12.8% during the third quarter. Inspire Investing LLC now owns 4,400 shares of the energy company’s stock worth $308,000 after buying an additional 501 shares during the period. Finally, MQS Management LLC lifted its stake in Ormat Technologies by 40.2% in the third quarter. MQS Management LLC now owns 4,700 shares of the energy company’s stock valued at $329,000 after buying an additional 1,348 shares during the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Ormat Technologies Price Performance

Shares of NYSE ORA opened at $68.93 on Friday. The stock has a fifty day moving average price of $65.15 and a 200 day moving average price of $66.92. Ormat Technologies, Inc. has a 1-year low of $58.73 and a 1-year high of $88.26. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.20 and a quick ratio of 1.12. The company has a market cap of $4.16 billion, a PE ratio of 32.98, a P/E/G ratio of 3.16 and a beta of 0.48.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data on Wednesday, February 21st. The energy company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The company had revenue of $241.30 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned $0.73 EPS. Sell-side analysts forecast that Ormat Technologies, Inc. will post 2.14 EPS for the current year.

Ormat Technologies Announces Dividend

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 0.70%. The ex-dividend date of this dividend was Tuesday, March 5th. Ormat Technologies’s dividend payout ratio is presently 22.97%.

Insiders Place Their Bets

In other news, Director Stanley Stern sold 1,825 shares of the firm’s 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 completion of the sale, the director now directly owns 4,835 shares of the company’s stock, valued at approximately $323,703.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ORA has been the topic of a number of research reports. Oppenheimer lowered their target price on shares of Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating on the stock in a research report on Friday, January 19th. Barclays lowered 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 research report on Monday, February 5th. Finally, TD Cowen reduced their target price on shares of Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating for the company in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $81.00.

Ormat Technologies Company 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.