Oregon Public Employees Retirement Fund Sells 2,100 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Oregon Public Employees Retirement Fund trimmed its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 15.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,180 shares of the energy company’s stock after selling 2,100 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Ormat Technologies were worth $802,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in Ormat Technologies by 14.2% during the fourth quarter. Victory Capital Management Inc. now owns 12,046 shares of the energy company’s stock worth $913,000 after acquiring an additional 1,496 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Ormat Technologies by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 554,473 shares of the energy company’s stock valued at $42,024,000 after buying an additional 23,816 shares during the period. Jump Financial LLC grew its position in Ormat Technologies by 24.4% during the fourth quarter. Jump Financial LLC now owns 17,424 shares of the energy company’s stock worth $1,321,000 after buying an additional 3,421 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Ormat Technologies by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,256,304 shares of the energy company’s stock valued at $95,220,000 after acquiring an additional 31,450 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Ormat Technologies by 5.1% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 5,014 shares of the energy company’s stock valued at $380,000 after acquiring an additional 242 shares in the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ORA has been the topic of a number of research reports. UBS Group boosted their price objective on Ormat Technologies from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Roth Mkm reissued a “buy” rating and issued a $80.00 price target on shares of Ormat Technologies in a report on Monday, August 12th. JPMorgan Chase & Co. lifted their target price on shares of Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Finally, Oppenheimer increased their price target on shares of Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ormat Technologies has an average rating of “Hold” and a consensus target price of $81.67.

Ormat Technologies Stock Up 0.7 %

Shares of NYSE:ORA opened at $72.51 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.72. The firm has a market cap of $4.38 billion, a P/E ratio of 32.66, a P/E/G ratio of 3.57 and a beta of 0.53. Ormat Technologies, Inc. has a 12 month low of $58.73 and a 12 month high of $78.51. The company’s 50-day moving average price is $73.84 and its two-hundred day moving average price is $70.34.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.37 by $0.03. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The business had revenue of $212.96 million for the quarter, compared to analysts’ expectations of $214.07 million. During the same period in the prior year, the firm earned $0.40 earnings per share. Ormat Technologies’s revenue was up 9.3% compared to the same quarter last year. As a group, research analysts forecast that Ormat Technologies, Inc. will post 2.04 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.66%. Ormat Technologies’s payout ratio is currently 21.62%.

Insider Activity

In related news, Director Dafna Sharir sold 433 shares of Ormat Technologies stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $74.91, for a total value of $32,436.03. Following the completion of the sale, the director now directly owns 3,561 shares in the company, valued at $266,754.51. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

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.