Ormat Technologies, Inc. (NYSE:ORA) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama cut its stake in Ormat Technologies, Inc. (NYSE:ORA) by 1.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,358 shares of the energy company’s stock after selling 1,014 shares during the quarter. Retirement Systems of Alabama owned about 0.11% of Ormat Technologies worth $5,029,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ORA. Blue Trust Inc. increased its position in Ormat Technologies by 180.3% during the third quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock worth $26,000 after purchasing an additional 229 shares during the last quarter. Harrington Investments INC increased its holdings in shares of Ormat Technologies by 3.0% during the 2nd quarter. Harrington Investments INC now owns 7,950 shares of the energy company’s stock worth $570,000 after buying an additional 230 shares during the last quarter. Arizona State Retirement System raised its position in shares of Ormat Technologies by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 15,214 shares of the energy company’s stock valued at $1,091,000 after buying an additional 286 shares during the period. UMB Bank n.a. lifted its holdings in Ormat Technologies by 107.7% in the third 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 during the last quarter. Finally, GAMMA Investing LLC grew its position in Ormat Technologies by 44.0% in the third quarter. GAMMA Investing LLC now owns 1,051 shares of the energy company’s stock worth $81,000 after acquiring an additional 321 shares during the period. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Price Performance

ORA stock opened at $67.19 on Thursday. The business’s fifty day moving average price is $79.12 and its 200 day moving average price is $75.90. Ormat Technologies, Inc. has a 12-month low of $59.41 and a 12-month high of $84.30. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $4.06 billion, a PE ratio of 34.28, a P/E/G ratio of 3.75 and a beta of 0.53.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The company had revenue of $211.80 million for the quarter, compared to analyst estimates of $215.53 million. During the same period in the prior year, the firm earned $0.47 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Ormat Technologies, Inc. will post 1.93 EPS for the current year.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th were given a $0.12 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $0.48 annualized dividend and a yield of 0.71%. Ormat Technologies’s dividend payout ratio is presently 24.49%.

Insiders Place Their Bets

In other news, Director Byron G. Wong sold 1,266 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.98, for a total value of $94,924.68. Following the transaction, the director now owns 6,906 shares in the company, valued at approximately $517,811.88. This represents a 15.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Corp Orix sold 3,700,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $75.38, for a total value of $278,906,000.00. Following the sale, the insider now directly owns 2,976,077 shares in the company, valued at $224,336,684.26. This trade represents a 55.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,702,522 shares of company stock worth $279,103,917 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on ORA shares. Roth Mkm restated a “buy” rating and issued a $92.00 target price (up previously from $87.00) on shares of Ormat Technologies in a research report on Friday, November 8th. Oppenheimer boosted their price objective on shares of Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.50.

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.