Mission Wealth Management LP lessened its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 10.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,001 shares of the energy company’s stock after selling 350 shares during the quarter. Mission Wealth Management LP’s holdings in Ormat Technologies were worth $223,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in ORA. BlackRock Inc. raised its stake in Ormat Technologies by 3.0% in the second quarter. BlackRock Inc. now owns 3,385,203 shares of the energy company’s stock valued at $214,589,000 after buying an additional 99,904 shares during the last quarter. Global Alpha Capital Management Ltd. grew its holdings in Ormat Technologies by 3.4% during the second quarter. Global Alpha Capital Management Ltd. now owns 1,222,479 shares of the energy company’s stock worth $77,976,000 after acquiring an additional 40,367 shares during the period. Northern Trust Corp grew its holdings in Ormat Technologies by 2.0% during the second quarter. Northern Trust Corp now owns 574,670 shares of the energy company’s stock worth $36,428,000 after acquiring an additional 11,271 shares during the period. Van ECK Associates Corp grew its holdings in Ormat Technologies by 21.7% during the second quarter. Van ECK Associates Corp now owns 427,426 shares of the energy company’s stock worth $27,095,000 after acquiring an additional 76,097 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Ormat Technologies by 1.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 337,735 shares of the energy company’s stock worth $21,410,000 after acquiring an additional 5,625 shares during the period. 74.76% of the stock is currently owned by institutional investors.
In other Ormat Technologies news, insider Roberts Christopher acquired 100,000 shares of the stock in a transaction dated Monday, November 4th. The stock was acquired at an average cost of $3.08 per share, with a total value of $308,000.00. Also, Director Ravit Barniv sold 1,714 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $73.07, for a total value of $125,241.98. Following the transaction, the director now directly owns 2,473 shares of the company’s stock, valued at $180,702.11. The disclosure for this sale can be found here. Insiders have sold a total of 35,712 shares of company stock valued at $2,582,976 over the last three months. 0.63% of the stock is currently owned by insiders.
NYSE:ORA traded down $0.62 on Friday, reaching $76.25. The company’s stock had a trading volume of 144,165 shares, compared to its average volume of 162,295. The company has a quick ratio of 1.35, a current ratio of 1.49 and a debt-to-equity ratio of 0.77. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 36.66, a price-to-earnings-growth ratio of 3.91 and a beta of 1.03. Ormat Technologies, Inc. has a 12-month low of $49.70 and a 12-month high of $79.18. The stock has a 50 day moving average price of $75.01 and a 200 day moving average price of $67.27.
Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.03). Ormat Technologies had a net margin of 11.98% and a return on equity of 6.07%. The firm had revenue of $170.50 million during the quarter, compared to analysts’ expectations of $171.11 million. During the same quarter in the prior year, the firm posted $0.31 EPS. Ormat Technologies’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities research analysts expect that Ormat Technologies, Inc. will post 1.77 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.44 annualized dividend and a yield of 0.58%. Ormat Technologies’s payout ratio is 21.15%.
ORA has been the topic of several research analyst reports. Cowen lowered Ormat Technologies from an “outperform” rating to a “market perform” rating and set a $76.00 price objective on the stock. in a report on Thursday, October 24th. UBS Group raised their price objective on Ormat Technologies from $59.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Zacks Investment Research raised Ormat Technologies from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Monday, October 21st. Roth Capital lifted their price target on Ormat Technologies from $67.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, ValuEngine downgraded Ormat Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $73.40.
Ormat Technologies 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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