Ormat Technologies, Inc. (NYSE:ORA) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its stake in Ormat Technologies, Inc. (NYSE:ORA) by 5.9% in the 3rd quarter, Holdings Channel reports. The firm owned 24,594 shares of the energy company’s stock after selling 1,541 shares during the quarter. Amalgamated Bank’s holdings in Ormat Technologies were worth $1,892,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in shares of Ormat Technologies by 180.3% in the third quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock valued at $26,000 after buying an additional 229 shares in the last quarter. UMB Bank n.a. grew its position in Ormat Technologies by 107.7% in the third quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock valued at $47,000 after acquiring an additional 320 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Ormat Technologies in the first quarter valued at approximately $50,000. GAMMA Investing LLC lifted its position in shares of Ormat Technologies by 115.3% during the second quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock worth $52,000 after purchasing an additional 391 shares in the last quarter. Finally, DMC Group LLC acquired a new position in shares of Ormat Technologies during the third quarter worth $204,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Roth Mkm reiterated a “buy” rating and issued a $92.00 price target (up previously from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Finally, Oppenheimer increased their price target on Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $84.50.

Ormat Technologies Stock Performance

Shares of ORA stock opened at $79.52 on Wednesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 0.95. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 40.57, a PEG ratio of 4.34 and a beta of 0.53. Ormat Technologies, Inc. has a one year low of $58.73 and a one year high of $84.30. The company’s 50-day simple moving average is $77.28 and its 200-day simple moving average is $74.47.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Wednesday, November 6th. The energy company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.31 by $0.05. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The company had revenue of $211.80 million during the quarter, compared to analyst estimates of $215.53 million. During the same quarter last year, the firm earned $0.47 EPS. The business’s revenue was up 1.8% on a year-over-year basis. Equities analysts anticipate that Ormat Technologies, Inc. will post 1.9 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.48 annualized dividend and a yield of 0.60%. Ormat Technologies’s payout ratio is 24.49%.

Insiders Place Their Bets

In related news, Director Dafna Sharir sold 433 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.91, for a total transaction of $32,436.03. Following the completion of the sale, the director now owns 3,561 shares of the company’s stock, valued at $266,754.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Dafna Sharir sold 433 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total value of $32,436.03. Following the sale, the director now owns 3,561 shares of the company’s stock, valued at approximately $266,754.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Byron G. Wong sold 1,266 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.98, for a total value of $94,924.68. Following the transaction, the director now owns 6,906 shares of the company’s stock, valued at approximately $517,811.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate 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.