Handelsbanken Fonder AB Cuts Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

Handelsbanken Fonder AB trimmed its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 49.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,644 shares of the energy company’s stock after selling 15,081 shares during the period. Handelsbanken Fonder AB’s holdings in Ormat Technologies were worth $1,204,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ORA. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Ormat Technologies by 23.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 178,217 shares of the energy company’s stock valued at $12,778,000 after purchasing an additional 33,439 shares during the last quarter. Creative Planning grew its stake in shares of Ormat Technologies by 8.9% in the second quarter. Creative Planning now owns 12,168 shares of the energy company’s stock worth $872,000 after purchasing an additional 996 shares during the last quarter. Algert Global LLC purchased a new position in shares of Ormat Technologies during the second quarter valued at approximately $392,000. Susquehanna International Group Ltd. purchased a new position in Ormat Technologies during the 2nd quarter valued at $1,006,000. Finally, AQR Capital Management LLC increased its position in shares of Ormat Technologies by 45.3% during the second quarter. AQR Capital Management LLC now owns 5,809 shares of the energy company’s stock valued at $417,000 after buying an additional 1,811 shares during the period. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Stock Performance

NYSE:ORA opened at $75.99 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 0.97. Ormat Technologies, Inc. has a 52-week low of $58.73 and a 52-week high of $78.51. The stock has a 50-day simple moving average of $74.43 and a two-hundred day simple moving average of $71.94. The firm has a market capitalization of $4.59 billion, a PE ratio of 34.70, a P/E/G ratio of 3.92 and a beta of 0.53.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. Ormat Technologies had a return on equity of 5.40% and a net margin of 14.89%. The business had revenue of $212.96 million during the quarter, compared to the consensus estimate of $214.07 million. During the same period in the prior year, the company posted $0.40 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. Analysts forecast that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a $0.12 dividend. 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 0.63%. Ormat Technologies’s dividend payout ratio (DPR) is presently 21.92%.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director Dafna Sharir sold 433 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.91, for a total transaction of $32,436.03. Following the transaction, the director now owns 3,561 shares of the company’s stock, valued at approximately $266,754.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Dafna Sharir sold 433 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total transaction of $32,436.03. Following the transaction, the director now directly owns 3,561 shares in the company, valued at $266,754.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Byron G. Wong sold 1,266 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.98, for a total transaction of $94,924.68. Following the sale, the director now directly owns 6,906 shares in the company, valued at approximately $517,811.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ORA shares. JPMorgan Chase & Co. increased their price target on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Roth Mkm reaffirmed a “buy” rating and set a $80.00 price objective on shares of Ormat Technologies in a research report on Monday, August 12th. Finally, Oppenheimer lifted their target price 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. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.67.

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, 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.