Ormat Technologies, Inc. $ORA Shares Sold by Swedbank AB

Swedbank AB decreased its position in Ormat Technologies, Inc. (NYSE:ORA) by 26.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,363 shares of the energy company’s stock after selling 12,532 shares during the quarter. Swedbank AB owned 0.06% of Ormat Technologies worth $3,307,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Exchange Traded Concepts LLC bought a new position in Ormat Technologies during the third quarter worth $853,000. Dudley & Shanley Inc. lifted its position in shares of Ormat Technologies by 0.7% in the 3rd quarter. Dudley & Shanley Inc. now owns 30,200 shares of the energy company’s stock worth $2,907,000 after buying an additional 200 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Ormat Technologies in the 3rd quarter valued at about $3,738,000. GAMMA Investing LLC boosted its holdings in shares of Ormat Technologies by 32.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,170 shares of the energy company’s stock valued at $113,000 after buying an additional 284 shares during the period. Finally, Osaic Holdings Inc. grew its position in shares of Ormat Technologies by 196.4% during the 2nd quarter. Osaic Holdings Inc. now owns 5,287 shares of the energy company’s stock valued at $443,000 after buying an additional 3,503 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the company. UBS Group lifted their target price on Ormat Technologies from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Jefferies Financial Group reissued a “buy” rating and issued a $125.00 price target on shares of Ormat Technologies in a report on Monday, November 24th. Roth Capital restated a “buy” rating and set a $125.00 price objective on shares of Ormat Technologies in a research note on Wednesday, November 5th. Barclays increased their target price on Ormat Technologies from $89.00 to $118.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Finally, TD Cowen boosted their price target on shares of Ormat Technologies from $100.00 to $115.00 and gave the company a “hold” rating in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Ormat Technologies presently has an average rating of “Moderate Buy” and an average target price of $120.22.

Insider Buying and Selling

In other news, Director Ravit Barniv sold 1,753 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $112.54, for a total value of $197,282.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Assi Ginzburg sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $112.72, for a total value of $2,254,400.00. Following the sale, the chief financial officer directly owned 4,482 shares in the company, valued at approximately $505,211.04. The trade was a 81.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 62,846 shares of company stock worth $6,686,789. Company insiders own 0.56% of the company’s stock.

Ormat Technologies Stock Down 1.2%

Shares of Ormat Technologies stock opened at $113.00 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.77 and a quick ratio of 0.70. Ormat Technologies, Inc. has a 1-year low of $61.58 and a 1-year high of $116.66. The business’s fifty day moving average price is $110.43 and its two-hundred day moving average price is $97.96. The company has a market capitalization of $6.87 billion, a P/E ratio of 51.84, a PEG ratio of 5.16 and a beta of 0.74.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Monday, November 3rd. The energy company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Ormat Technologies had a return on equity of 5.35% and a net margin of 14.12%.The company had revenue of $249.73 million for the quarter, compared to analyst estimates of $235.03 million. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. As a group, research analysts forecast that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, November 17th. Ormat Technologies’s dividend payout ratio is currently 22.02%.

Ormat Technologies Company Profile

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.