Ormat Technologies, Inc. (NYSE:ORA) Position Trimmed by Altshuler Shaham Ltd

Altshuler Shaham Ltd reduced its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 24.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 470 shares of the energy company’s stock after selling 156 shares during the quarter. Altshuler Shaham Ltd’s holdings in Ormat Technologies were worth $33,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Retirement Systems of Alabama grew its holdings in shares of Ormat Technologies by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 67,453 shares of the energy company’s stock valued at $4,465,000 after acquiring an additional 177 shares in the last quarter. New York State Teachers Retirement System grew its stake in Ormat Technologies by 0.6% in the first quarter. New York State Teachers Retirement System now owns 31,880 shares of the energy company’s stock valued at $2,110,000 after purchasing an additional 200 shares in the last quarter. Harrington Investments INC increased its position in Ormat Technologies by 3.0% in the 2nd quarter. Harrington Investments INC now owns 7,950 shares of the energy company’s stock worth $570,000 after purchasing an additional 230 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Ormat Technologies by 5.1% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 5,014 shares of the energy company’s stock valued at $380,000 after buying an additional 242 shares during the last quarter. Finally, TFO Wealth Partners LLC grew its stake in shares of Ormat Technologies by 9,066.7% in the 4th quarter. TFO Wealth Partners LLC now owns 275 shares of the energy company’s stock valued at $227,000 after buying an additional 272 shares in the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Ormat Technologies Stock Performance

Shares of ORA opened at $75.53 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.97 and a quick ratio of 0.89. Ormat Technologies, Inc. has a one year low of $58.73 and a one year high of $78.51. The company’s fifty day moving average price is $74.36 and its 200 day moving average price is $70.91. The company has a market capitalization of $4.56 billion, a PE ratio of 34.02, a price-to-earnings-growth ratio of 3.68 and a beta of 0.53.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The business had revenue of $212.96 million for the quarter, compared to analyst estimates of $214.07 million. Ormat Technologies had a return on equity of 5.40% and a net margin of 14.89%. 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 company posted $0.40 earnings per share. As a group, analysts expect that Ormat Technologies, Inc. will post 2.04 earnings per share for the current year.

Ormat Technologies Dividend Announcement

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

Insider Buying and Selling

In other Ormat Technologies news, Director Dafna Sharir sold 433 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total value of $32,436.03. Following the sale, the director now directly owns 3,561 shares in the company, valued at approximately $266,754.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on ORA shares. JPMorgan Chase & Co. boosted their target price on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Oppenheimer increased their target price on shares of Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $80.00 price target on shares of Ormat Technologies in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $81.67.

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.