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

Citigroup Inc. trimmed its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 92.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 92,094 shares of the energy company’s stock after selling 1,123,528 shares during the period. Citigroup Inc. owned 0.15% of Ormat Technologies worth $7,086,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Susquehanna International Group Ltd. purchased a new stake in shares of Ormat Technologies during the 2nd quarter worth $1,006,000. Tidal Investments LLC boosted its holdings in Ormat Technologies by 433.4% in the first quarter. Tidal Investments LLC now owns 15,075 shares of the energy company’s stock valued at $998,000 after acquiring an additional 12,249 shares during the last quarter. Y.D. More Investments Ltd raised its holdings in Ormat Technologies by 1,011.5% in the second quarter. Y.D. More Investments Ltd now owns 493,619 shares of the energy company’s stock valued at $34,943,000 after buying an additional 449,209 shares during the period. Chesapeake Capital Corp IL acquired a new stake in Ormat Technologies in the 3rd quarter valued at $522,000. Finally, Bank of New York Mellon Corp boosted its holdings in Ormat Technologies by 2.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 560,029 shares of the energy company’s stock worth $40,154,000 after acquiring an additional 15,004 shares during the period. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ORA has been the topic of a number of research reports. Oppenheimer increased their target price on shares of Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Roth Mkm reiterated a “buy” rating and issued a $92.00 price target (up from $87.00) on shares of Ormat Technologies in a research 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. According to MarketBeat.com, Ormat Technologies currently has an average rating of “Moderate Buy” and an average target price of $84.50.

Insider Buying and Selling

In related news, Director Byron G. Wong sold 1,266 shares of the stock in a transaction that occurred 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

Ormat Technologies Stock Performance

Shares of Ormat Technologies stock opened at $81.62 on Friday. The firm has a market cap of $4.94 billion, a P/E ratio of 41.64, a P/E/G ratio of 4.22 and a beta of 0.53. Ormat Technologies, Inc. has a fifty-two week low of $59.41 and a fifty-two week high of $84.30. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. The firm has a 50 day simple moving average of $78.89 and a 200 day simple moving average of $75.53.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. The business had revenue of $211.80 million during the quarter, compared to the consensus estimate of $215.53 million. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 earnings per share. Sell-side analysts predict that Ormat Technologies, Inc. will post 1.93 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be paid a $0.12 dividend. The ex-dividend date of this dividend 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 currently 24.49%.

Ormat Technologies Company 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.