Ballentine Partners LLC Reduces Stake in Ormat Technologies, Inc. $ORA

Ballentine Partners LLC cut its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 4.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,365 shares of the energy company’s stock after selling 519 shares during the period. Ballentine Partners LLC’s holdings in Ormat Technologies were worth $868,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. UMB Bank n.a. boosted its stake in shares of Ormat Technologies by 42.6% in the first quarter. UMB Bank n.a. now owns 880 shares of the energy company’s stock worth $62,000 after acquiring an additional 263 shares during the period. CWM LLC boosted its stake in shares of Ormat Technologies by 294.2% in the first quarter. CWM LLC now owns 887 shares of the energy company’s stock worth $63,000 after acquiring an additional 662 shares during the period. Signaturefd LLC boosted its stake in shares of Ormat Technologies by 60.6% in the first quarter. Signaturefd LLC now owns 890 shares of the energy company’s stock worth $63,000 after acquiring an additional 336 shares during the period. GAMMA Investing LLC boosted its stake in shares of Ormat Technologies by 57.4% in the second quarter. GAMMA Investing LLC now owns 886 shares of the energy company’s stock worth $74,000 after acquiring an additional 323 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Ormat Technologies by 30.7% in the first quarter. Russell Investments Group Ltd. now owns 1,072 shares of the energy company’s stock worth $76,000 after acquiring an additional 252 shares during the period. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Roth Capital reaffirmed a “buy” rating and issued a $98.00 target price (up from $88.00) on shares of Ormat Technologies in a report on Tuesday, August 5th. UBS Group lifted their target price on Ormat Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Oppenheimer reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Ormat Technologies in a report on Friday, August 8th. Cowen reaffirmed a “hold” rating on shares of Ormat Technologies in a report on Friday, August 8th. Finally, Barclays reduced their target price on Ormat Technologies from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.50.

Insider Activity at Ormat Technologies

In related news, Director Byron G. Wong sold 535 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $91.39, for a total transaction of $48,893.65. Following the completion of the transaction, the director owned 8,659 shares of the company’s stock, valued at approximately $791,346.01. This trade represents a 5.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stanley Stern sold 876 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $91.98, for a total transaction of $80,574.48. Following the transaction, the director directly owned 5,261 shares of the company’s stock, valued at $483,906.78. The trade was a 14.27% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,711 shares of company stock worth $1,754,320. Company insiders own 0.56% of the company’s stock.

Ormat Technologies Stock Up 0.9%

ORA stock opened at $93.72 on Friday. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 43.59, a PEG ratio of 4.32 and a beta of 0.69. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.77. Ormat Technologies, Inc. has a 12 month low of $61.58 and a 12 month high of $95.36. The firm has a 50-day moving average of $90.63 and a two-hundred day moving average of $80.92.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Wednesday, August 6th. The energy company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.11. The company had revenue of $234.02 million during the quarter, compared to the consensus estimate of $225.26 million. Ormat Technologies had a net margin of 14.49% and a return on equity of 5.47%. Ormat Technologies’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 EPS. As a group, analysts forecast that Ormat Technologies, Inc. will post 1.94 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, September 3rd. Investors of record on Wednesday, August 20th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. Ormat Technologies’s dividend payout ratio (DPR) is presently 22.33%.

About Ormat Technologies

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.