Yousif Capital Management LLC Cuts Stock Position in Ormat Technologies, Inc. $ORA

Yousif Capital Management LLC lessened its stake in Ormat Technologies, Inc. (NYSE:ORA) by 1.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,327 shares of the energy company’s stock after selling 249 shares during the period. Yousif Capital Management LLC’s holdings in Ormat Technologies were worth $1,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. CWM LLC boosted its holdings in 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 in the last quarter. Signaturefd LLC boosted its holdings in 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 in the last quarter. GAMMA Investing LLC boosted its holdings in 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 in the last quarter. Russell Investments Group Ltd. boosted its holdings in 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 in the last quarter. Finally, UMB Bank n.a. boosted its holdings in Ormat Technologies by 20.3% in the second quarter. UMB Bank n.a. now owns 1,059 shares of the energy company’s stock worth $89,000 after acquiring an additional 179 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Stock Down 1.3%

Shares of ORA opened at $108.95 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.64 and a current ratio of 0.70. Ormat Technologies, Inc. has a one year low of $61.58 and a one year high of $111.08. The stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of 50.68, a PEG ratio of 4.90 and a beta of 0.69. The stock has a 50 day moving average price of $95.49 and a 200 day moving average price of $84.67.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Wednesday, August 6th. The energy company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.11. Ormat Technologies had a return on equity of 5.47% and a net margin of 14.49%.The company had revenue of $234.02 million for the quarter, compared to analyst estimates of $225.26 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities research 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 declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, August 20th. This represents a $0.48 annualized dividend and a yield of 0.4%. Ormat Technologies’s dividend payout ratio is 22.33%.

Analysts Set New Price Targets

ORA has been the subject of a number of research reports. Barclays decreased their target price on Ormat Technologies from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Baird R W raised Ormat Technologies from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 30th. Robert W. Baird raised Ormat Technologies from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $87.00 to $103.00 in a report on Wednesday, July 30th. Oppenheimer reaffirmed an “outperform” rating and set a $100.00 target price on shares of Ormat Technologies in a report on Friday, August 8th. Finally, Roth Capital reaffirmed a “buy” rating and set a $98.00 target price (up previously from $88.00) on shares of Ormat Technologies in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Ormat Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $99.30.

Insiders Place Their Bets

In other news, CEO Doron Blachar sold 14,994 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $94.71, for a total value of $1,420,081.74. Following the transaction, the chief executive officer owned 35,419 shares in the company, valued at approximately $3,354,533.49. This represents a 29.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stanley Stern sold 876 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $91.98, for a total value of $80,574.48. Following the transaction, the director owned 5,261 shares in the company, valued at $483,906.78. This represents a 14.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,926 shares of company stock worth $3,861,296. 0.56% of the stock is currently owned by company insiders.

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.