State of New Jersey Common Pension Fund D Sells 1,642 Shares of Ormat Technologies, Inc. $ORA

State of New Jersey Common Pension Fund D lowered its position in Ormat Technologies, Inc. (NYSE:ORA) by 5.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,546 shares of the energy company’s stock after selling 1,642 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Ormat Technologies were worth $2,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. CWM LLC raised its stake in shares of Ormat Technologies by 294.2% during the first quarter. CWM LLC now owns 887 shares of the energy company’s stock valued at $63,000 after acquiring an additional 662 shares in the last quarter. Signaturefd LLC grew its holdings in Ormat Technologies by 60.6% in the first quarter. Signaturefd LLC now owns 890 shares of the energy company’s stock worth $63,000 after purchasing an additional 336 shares during the last quarter. GAMMA Investing LLC grew its holdings in Ormat Technologies by 57.4% in the second quarter. GAMMA Investing LLC now owns 886 shares of the energy company’s stock worth $74,000 after purchasing an additional 323 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Ormat Technologies by 30.7% in the first quarter. Russell Investments Group Ltd. now owns 1,072 shares of the energy company’s stock worth $76,000 after purchasing an additional 252 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in Ormat Technologies by 20.3% in the second quarter. UMB Bank n.a. now owns 1,059 shares of the energy company’s stock worth $89,000 after purchasing an additional 179 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Insider Activity at Ormat Technologies

In other Ormat Technologies news, insider Jessica Woelfel sold 5,611 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $94.80, for a total transaction of $531,922.80. Following the sale, the insider directly owned 3,433 shares in the company, valued at $325,448.40. This represents a 62.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dafna Sharir sold 981 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $96.70, for a total transaction of $94,862.70. Following the sale, the director owned 2,257 shares in the company, valued at approximately $218,251.90. This trade represents a 30.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 40,926 shares of company stock worth $3,861,296 over the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Ormat Technologies from $88.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. TD Cowen boosted their price objective on shares of Ormat Technologies from $76.00 to $85.00 and gave the company a “hold” rating in a report on Friday, August 8th. Jefferies Financial Group boosted their price objective on shares of Ormat Technologies from $97.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Barclays dropped their price objective on shares of Ormat Technologies from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Finally, Baird R W raised shares of Ormat Technologies from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $99.30.

Ormat Technologies Stock Down 0.3%

Shares of NYSE ORA opened at $106.29 on Wednesday. Ormat Technologies, Inc. has a 12-month low of $61.58 and a 12-month high of $111.08. The stock has a market cap of $6.45 billion, a PE ratio of 49.44, a P/E/G ratio of 4.81 and a beta of 0.69. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average of $97.78 and a 200 day moving average of $86.54.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data on Wednesday, August 6th. The energy company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.11. Ormat Technologies had a net margin of 14.49% and a return on equity of 5.47%. The company had revenue of $234.02 million during the quarter, compared to analysts’ expectations of $225.26 million. During the same quarter in the prior year, the company earned $0.37 EPS. Ormat Technologies’s revenue was up 9.9% compared to the same quarter last year. As a group, sell-side analysts predict that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, August 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. Ormat Technologies’s dividend payout ratio is 22.33%.

About Ormat Technologies

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.