First Trust Advisors LP decreased its stake in Ormat Technologies, Inc. (NYSE:ORA) by 53.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 47,245 shares of the energy company’s stock after selling 53,173 shares during the quarter. First Trust Advisors LP owned about 0.09% of Ormat Technologies worth $2,556,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in ORA. BlackRock Inc. lifted its stake in shares of Ormat Technologies by 16.3% during the 2nd quarter. BlackRock Inc. now owns 2,872,315 shares of the energy company’s stock worth $152,778,000 after acquiring an additional 403,269 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of Ormat Technologies by 8.4% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,423,780 shares of the energy company’s stock worth $128,921,000 after acquiring an additional 186,974 shares during the last quarter. Global Alpha Capital Management Ltd. lifted its stake in shares of Ormat Technologies by 21.0% during the 2nd quarter. Global Alpha Capital Management Ltd. now owns 344,557 shares of the energy company’s stock worth $18,235,000 after acquiring an additional 59,749 shares during the last quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management lifted its stake in shares of Ormat Technologies by 7.1% during the 3rd quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 754,586 shares of the energy company’s stock worth $40,830,000 after acquiring an additional 50,000 shares during the last quarter. Finally, Trillium Asset Management LLC lifted its stake in shares of Ormat Technologies by 24.6% during the 2nd quarter. Trillium Asset Management LLC now owns 215,383 shares of the energy company’s stock worth $11,456,000 after acquiring an additional 42,552 shares during the last quarter. Hedge funds and other institutional investors own 72.62% of the company’s stock.
A number of brokerages recently issued reports on ORA. ValuEngine raised Ormat Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. Zacks Investment Research raised Ormat Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. JPMorgan Chase & Co. raised Ormat Technologies from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $64.00 to $60.00 in a research note on Thursday, August 9th. Finally, TheStreet lowered Ormat Technologies from a “b-” rating to a “c+” rating in a research report on Thursday, August 9th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $64.80.
Shares of NYSE ORA opened at $55.83 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.06 and a quick ratio of 0.97. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 3.02 and a beta of 1.46. Ormat Technologies, Inc. has a twelve month low of $45.79 and a twelve month high of $70.68.
Ormat Technologies (NYSE:ORA) last issued its earnings results on Tuesday, November 6th. The energy company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.13). The firm had revenue of $166.50 million for the quarter, compared to the consensus estimate of $172.97 million. Ormat Technologies had a net margin of 17.39% and a return on equity of 8.86%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the firm earned $0.42 earnings per share. Research analysts expect that Ormat Technologies, Inc. will post 1.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Tuesday, November 20th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Monday, November 19th. Ormat Technologies’s dividend payout ratio (DPR) is presently 13.38%.
In other Ormat Technologies news, EVP Bob Sullivan sold 20,329 shares of Ormat Technologies stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $56.94, for a total transaction of $1,157,533.26. Following the completion of the sale, the executive vice president now directly owns 23,329 shares of the company’s stock, valued at approximately $1,328,353.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David Granot sold 759 shares of Ormat Technologies stock in a transaction on Monday, November 26th. The shares were sold at an average price of $54.00, for a total value of $40,986.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,550 shares of company stock valued at $1,222,541. 0.50% of the stock is currently owned by corporate insiders.
Ormat Technologies Profile
Ormat Technologies, Inc engages in the geothermal and recovered energy power business worldwide. The company operates through Electricity and Product segments. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. This segment also offers energy storage, demand response, and energy management related services.
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