Inspire Investing LLC Sells 464 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Inspire Investing LLC decreased its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 8.6% during the second quarter, HoldingsChannel reports. The firm owned 4,909 shares of the energy company’s stock after selling 464 shares during the quarter. Inspire Investing LLC’s holdings in Ormat Technologies were worth $352,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. TFO Wealth Partners LLC lifted its holdings in Ormat Technologies by 9,066.7% in the fourth quarter. TFO Wealth Partners LLC now owns 275 shares of the energy company’s stock worth $227,000 after buying an additional 272 shares during the period. GAMMA Investing LLC raised its position in shares of Ormat Technologies by 115.3% in the 2nd quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock worth $52,000 after acquiring an additional 391 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of Ormat Technologies in the 1st quarter valued at approximately $50,000. PNC Financial Services Group Inc. boosted its position in shares of Ormat Technologies by 50.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock valued at $117,000 after purchasing an additional 514 shares in the last quarter. Finally, nVerses Capital LLC grew its stake in Ormat Technologies by 311.1% in the second quarter. nVerses Capital LLC now owns 3,700 shares of the energy company’s stock worth $265,000 after purchasing an additional 2,800 shares during the period. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ORA shares. Roth Mkm restated a “buy” rating and set a $80.00 target price on shares of Ormat Technologies in a report on Monday, August 12th. Oppenheimer boosted their price objective on shares of Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $81.67.

Ormat Technologies Stock Up 0.9 %

NYSE:ORA opened at $75.53 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 0.97. The firm has a market cap of $4.56 billion, a P/E ratio of 34.02, a P/E/G ratio of 3.68 and a beta of 0.53. Ormat Technologies, Inc. has a fifty-two week low of $58.73 and a fifty-two week high of $78.51. The firm has a 50-day simple moving average of $74.36 and a two-hundred day simple moving average of $70.91.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The company had revenue of $212.96 million during the quarter, compared to analyst estimates of $214.07 million. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 EPS. Analysts predict that Ormat Technologies, Inc. will post 2.04 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Tuesday, August 20th. Ormat Technologies’s payout ratio is presently 21.62%.

Insider Transactions at Ormat Technologies

In related news, Director Dafna Sharir sold 433 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total transaction of $32,436.03. Following the transaction, the director now owns 3,561 shares in the company, valued at $266,754.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

Ormat Technologies 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.