Wells Fargo & Company MN lowered its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 0.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 73,231 shares of the energy company’s stock after selling 647 shares during the quarter. Wells Fargo & Company MN owned 0.14% of Ormat Technologies worth $4,642,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in ORA. Strs Ohio grew its stake in shares of Ormat Technologies by 130.0% in the second quarter. Strs Ohio now owns 2,300 shares of the energy company’s stock worth $145,000 after purchasing an additional 1,300 shares during the last quarter. Somerville Kurt F boosted its position in shares of Ormat Technologies by 7.1% in the second quarter. Somerville Kurt F now owns 13,255 shares of the energy company’s stock worth $840,000 after acquiring an additional 875 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Ormat Technologies by 6.3% in the second quarter. Nisa Investment Advisors LLC now owns 17,000 shares of the energy company’s stock worth $1,078,000 after acquiring an additional 1,000 shares during the last quarter. GYL Financial Synergies LLC acquired a new stake in shares of Ormat Technologies in the first quarter worth approximately $1,391,000. Finally, Penn Capital Management Co. Inc. boosted its position in shares of Ormat Technologies by 87.5% in the first quarter. Penn Capital Management Co. Inc. now owns 27,925 shares of the energy company’s stock worth $1,540,000 after acquiring an additional 13,035 shares during the last quarter. Institutional investors own 74.96% of the company’s stock.
Shares of ORA traded down $0.14 during midday trading on Thursday, hitting $73.47. 4,438 shares of the stock traded hands, compared to its average volume of 180,482. Ormat Technologies, Inc. has a 1-year low of $49.01 and a 1-year high of $74.75. The firm has a market capitalization of $3.68 billion, a PE ratio of 35.35, a price-to-earnings-growth ratio of 3.70 and a beta of 1.06. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.35 and a current ratio of 1.49. The business’s 50 day moving average price is $71.12 and its two-hundred day moving average price is $62.36.
Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Wednesday, August 7th. The energy company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.09. Ormat Technologies had a net margin of 11.98% and a return on equity of 6.07%. The company had revenue of $184.10 million during the quarter, compared to the consensus estimate of $175.60 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities research analysts forecast that Ormat Technologies, Inc. will post 1.77 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.60%. Ormat Technologies’s dividend payout ratio (DPR) is presently 21.15%.
Several equities research analysts recently issued reports on the stock. Roth Capital raised their target price on shares of Ormat Technologies from $67.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. UBS Group raised their target price on shares of Ormat Technologies from $59.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Ormat Technologies currently has an average rating of “Hold” and an average target price of $70.33.
In related news, Director Ravit Barniv sold 5,786 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $73.00, for a total value of $422,378.00. Following the completion of the transaction, the director now directly owns 6,545 shares in the company, valued at $477,785. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Granot sold 7,500 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $70.70, for a total value of $530,250.00. Following the completion of the transaction, the director now owns 8,861 shares of the company’s stock, valued at $626,472.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,712 shares of company stock valued at $2,582,976. Corporate insiders own 0.63% of the company’s stock.
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, New Zealand, and internationally. The company operates through three segments: Electricity, Product, and Other. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity.
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