Louisiana State Employees Retirement System Lowers Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Louisiana State Employees Retirement System reduced its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 1.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,200 shares of the energy company’s stock after selling 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Ormat Technologies were worth $1,090,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nisa Investment Advisors LLC increased its stake in shares of Ormat Technologies by 19.8% during the second quarter. Nisa Investment Advisors LLC now owns 5,819 shares of the energy company’s stock valued at $417,000 after buying an additional 961 shares during the period. SG Americas Securities LLC increased its position in Ormat Technologies by 287.4% during the 2nd quarter. SG Americas Securities LLC now owns 8,163 shares of the energy company’s stock valued at $585,000 after purchasing an additional 6,056 shares during the period. GAMMA Investing LLC raised its holdings in shares of Ormat Technologies by 115.3% in the 2nd quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock valued at $52,000 after purchasing an additional 391 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Ormat Technologies by 81.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 9,049 shares of the energy company’s stock worth $597,000 after purchasing an additional 4,072 shares during the period. Finally, Beck Bode LLC boosted its stake in shares of Ormat Technologies by 34.1% during the first quarter. Beck Bode LLC now owns 174,882 shares of the energy company’s stock valued at $11,575,000 after purchasing an additional 44,451 shares in the last quarter. 95.49% of the stock is owned by institutional investors.

Ormat Technologies Stock Performance

Shares of Ormat Technologies stock opened at $74.38 on Wednesday. The company has a 50 day moving average price of $73.57 and a 200 day moving average price of $69.83. The firm has a market capitalization of $4.49 billion, a P/E ratio of 33.50, a PEG ratio of 3.62 and a beta of 0.51. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.72. Ormat Technologies, Inc. has a 52 week low of $58.73 and a 52 week high of $78.51.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The business had revenue of $212.96 million during the quarter, compared to analysts’ expectations of $214.07 million. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company posted $0.40 earnings per share. Sell-side analysts expect that Ormat Technologies, Inc. will post 2.04 EPS for the current year.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Tuesday, August 20th. Ormat Technologies’s dividend payout ratio is presently 21.62%.

Insider Transactions at Ormat Technologies

In related news, Director Dafna Sharir sold 433 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total value of $32,436.03. Following the transaction, the director now owns 3,561 shares in the company, valued at approximately $266,754.51. The sale was disclosed in a filing with the SEC, which is available through this link. In other Ormat Technologies news, Director Dafna Sharir sold 433 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total value of $32,436.03. Following the sale, the director now directly owns 3,561 shares of the company’s stock, valued at $266,754.51. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Granot sold 686 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $73.46, for a total value of $50,393.56. Following the sale, the director now directly owns 4,832 shares in the company, valued at $354,958.72. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ORA. JPMorgan Chase & Co. upped their target price on Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Oppenheimer raised their price objective on Ormat Technologies from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. TD Cowen boosted their target price on shares of Ormat Technologies from $70.00 to $76.00 and gave the stock a “hold” rating in a report on Friday, May 10th. UBS Group raised their price target on shares of Ormat Technologies from $95.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Finally, Roth Mkm reiterated a “buy” rating and set a $80.00 price objective on shares of Ormat Technologies in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $81.67.

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.