Victory Capital Management Inc. Has $1.43 Million Stake in Ormat Technologies, Inc. (NYSE:ORA)

Victory Capital Management Inc. lowered its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,560 shares of the energy company’s stock after selling 341 shares during the quarter. Victory Capital Management Inc.’s holdings in Ormat Technologies were worth $1,428,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. lifted 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. lifted its position in Ormat Technologies by 107.7% in the 3rd 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 position in Ormat Technologies during the 1st quarter valued at about $50,000. GAMMA Investing LLC increased its holdings in Ormat Technologies by 115.3% during the 2nd 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 purchased a new stake in shares of Ormat Technologies in the third quarter worth approximately $204,000. Institutional investors own 95.49% of the company’s stock.

Insiders Place Their Bets

In other news, 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 transaction of $94,924.68. Following the transaction, the director now owns 6,906 shares of the company’s stock, valued at $517,811.88. This represents a 15.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ORA. Oppenheimer lifted their target price on Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Roth Mkm reaffirmed a “buy” rating and set a $92.00 price objective (up from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $84.50.

Ormat Technologies Price Performance

Shares of NYSE ORA opened at $82.02 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $4.96 billion, a PE ratio of 41.85, a PEG ratio of 4.18 and a beta of 0.53. The stock’s 50 day moving average price is $78.26 and its 200-day moving average price is $75.20. Ormat Technologies, Inc. has a twelve month low of $59.41 and a twelve month high of $84.30.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.36 earnings per share 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 business had revenue of $211.80 million for the quarter, compared to analysts’ expectations of $215.53 million. During the same quarter in the previous year, the firm earned $0.47 earnings per share. The business’s revenue was up 1.8% on a year-over-year basis. On average, equities analysts anticipate that Ormat Technologies, Inc. will post 1.93 EPS for the current year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.59%. Ormat Technologies’s dividend payout ratio (DPR) is presently 24.49%.

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.