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

Perpetual Ltd trimmed its stake in Ormat Technologies, Inc. (NYSE:ORA) by 3.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,256 shares of the energy company’s stock after selling 224 shares during the quarter. Perpetual Ltd’s holdings in Ormat Technologies were worth $443,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Stuart Chaussee & Associates Inc. purchased a new position in Ormat Technologies in the 4th quarter worth about $34,000. AlphaQuest LLC boosted its holdings in shares of Ormat Technologies by 4,691.7% in the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock worth $39,000 after buying an additional 563 shares during the period. UMB Bank n.a. boosted its holdings in shares of Ormat Technologies by 42.6% in the first quarter. UMB Bank n.a. now owns 880 shares of the energy company’s stock worth $62,000 after buying an additional 263 shares during the period. Headlands Technologies LLC purchased a new position in shares of Ormat Technologies in the fourth quarter worth approximately $66,000. Finally, Sterling Capital Management LLC raised its holdings in shares of Ormat Technologies by 897.8% during the fourth quarter. Sterling Capital Management LLC now owns 1,856 shares of the energy company’s stock valued at $126,000 after acquiring an additional 1,670 shares during the period. 95.49% of the stock is owned by institutional investors and hedge funds.

Ormat Technologies Stock Down 1.3%

ORA opened at $84.32 on Friday. The company has a market capitalization of $5.11 billion, a PE ratio of 40.93, a price-to-earnings-growth ratio of 4.03 and a beta of 0.60. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.97 and a quick ratio of 0.90. Ormat Technologies, Inc. has a fifty-two week low of $61.58 and a fifty-two week high of $87.20. The business has a 50-day moving average of $76.01 and a 200-day moving average of $70.99.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.10. The firm had revenue of $229.76 million for the quarter, compared to the consensus estimate of $228.33 million. Ormat Technologies had a return on equity of 5.35% and a net margin of 14.18%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 earnings per share. Equities research analysts forecast that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Wednesday, May 21st. Ormat Technologies’s payout ratio is presently 23.30%.

Insiders Place Their Bets

In related news, Director David Granot sold 950 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $73.10, for a total transaction of $69,445.00. Following the completion of the sale, the director now directly owns 2,713 shares of the company’s stock, valued at approximately $198,320.30. This represents a 25.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dafna Sharir sold 1,601 shares of the firm’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $85.63, for a total transaction of $137,093.63. Following the completion of the transaction, the director now owns 3,238 shares in the company, valued at $277,269.94. The trade was a 33.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,869 shares of company stock valued at $384,785 over the last three months. 0.56% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ORA. Jefferies Financial Group increased their target price on Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, March 25th. Baird R W raised Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. Barclays raised Ormat Technologies from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $80.00 to $86.00 in a research note on Friday, June 6th. Wall Street Zen raised shares of Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Monday, April 7th. Finally, Robert W. Baird started coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price target for the company. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $84.14.

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.