Asset Management One Co. Ltd. decreased its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 22.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 4,309 shares of the energy company’s stock after selling 1,233 shares during the period. Asset Management One Co. Ltd.’s holdings in Ormat Technologies were worth $263,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada boosted its position in shares of Ormat Technologies by 1.7% in the 2nd quarter. Royal Bank of Canada now owns 2,008 shares of the energy company’s stock worth $117,000 after purchasing an additional 34 shares in the last quarter. Sei Investments Co. boosted its position in shares of Ormat Technologies by 2.2% in the 2nd quarter. Sei Investments Co. now owns 2,266 shares of the energy company’s stock worth $133,000 after purchasing an additional 49 shares in the last quarter. Advisor Group Inc. boosted its position in shares of Ormat Technologies by 153.2% in the 2nd quarter. Advisor Group Inc. now owns 2,302 shares of the energy company’s stock worth $135,000 after purchasing an additional 1,393 shares in the last quarter. Psagot Investment House Ltd. boosted its position in shares of Ormat Technologies by 1.6% in the 2nd quarter. Psagot Investment House Ltd. now owns 2,661 shares of the energy company’s stock worth $156,000 after purchasing an additional 43 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Ormat Technologies by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,964 shares of the energy company’s stock worth $233,000 after purchasing an additional 595 shares in the last quarter. Hedge funds and other institutional investors own 46.34% of the company’s stock.
A number of analysts have recently commented on ORA shares. Oppenheimer reissued a “buy” rating and issued a $70.00 price target (up from $65.00) on shares of Ormat Technologies in a research report on Wednesday, September 27th. Zacks Investment Research raised Ormat Technologies from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Thursday, October 5th. Roth Capital set a $70.00 price target on Ormat Technologies and gave the stock a “buy” rating in a research report on Monday, November 13th. Finally, TheStreet raised Ormat Technologies from a “c+” rating to a “b-” rating in a research report on Monday, November 13th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $67.86.
Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Tuesday, November 7th. The energy company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.06). The business had revenue of $157.20 million during the quarter, compared to the consensus estimate of $159.02 million. Ormat Technologies had a net margin of 16.99% and a return on equity of 9.41%. The business’s revenue was down 14.8% compared to the same quarter last year. During the same period last year, the company posted $0.56 earnings per share. equities analysts anticipate that Ormat Technologies, Inc. will post 2.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Tuesday, November 21st were given a $0.08 dividend. The ex-dividend date was Monday, November 20th. This represents a $0.32 annualized dividend and a yield of 0.50%. Ormat Technologies’s dividend payout ratio (DPR) is presently 13.73%.
In related news, VP Erez Klein sold 18,068 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $58.10, for a total value of $1,049,750.80. Following the transaction, the vice president now directly owns 9,753 shares of the company’s stock, valued at approximately $566,649.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Shlomi Argas sold 11,523 shares of the business’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $59.50, for a total transaction of $685,618.50. Following the sale, the vice president now owns 1,734 shares of the company’s stock, valued at $103,173. The disclosure for this sale can be found here. Insiders sold a total of 74,040 shares of company stock worth $4,409,349 over the last ninety days. 14.74% of the stock is currently owned by insiders.
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Ormat Technologies Company Profile
Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.
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