DekaBank Deutsche Girozentrale Has $639,000 Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

DekaBank Deutsche Girozentrale cut its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 6.9% in the third quarter, Holdings Channel reports. The institutional investor owned 8,338 shares of the energy company’s stock after selling 618 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Ormat Technologies were worth $639,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Retirement Systems of Alabama raised its stake in Ormat Technologies by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 67,453 shares of the energy company’s stock valued at $4,465,000 after purchasing an additional 177 shares during the last quarter. Blue Trust Inc. raised its position in shares of Ormat Technologies by 180.3% during the third quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock valued at $26,000 after buying an additional 229 shares during the last quarter. Harrington Investments INC lifted its stake in shares of Ormat Technologies by 3.0% in the second quarter. Harrington Investments INC now owns 7,950 shares of the energy company’s stock valued at $570,000 after buying an additional 230 shares during the period. Arizona State Retirement System grew its position in Ormat Technologies by 1.9% during the second quarter. Arizona State Retirement System now owns 15,214 shares of the energy company’s stock worth $1,091,000 after buying an additional 286 shares in the last quarter. Finally, State of Michigan Retirement System increased its stake in Ormat Technologies by 2.3% during the first quarter. State of Michigan Retirement System now owns 13,200 shares of the energy company’s stock valued at $874,000 after acquiring an additional 300 shares during the period. 95.49% of the stock is owned by institutional investors.

Ormat Technologies Stock Performance

Ormat Technologies stock opened at $78.71 on Friday. Ormat Technologies, Inc. has a 52-week low of $58.73 and a 52-week high of $82.39. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.97 and a quick ratio of 0.89. The stock has a fifty day moving average price of $76.16 and a two-hundred day moving average price of $73.40. The firm has a market capitalization of $4.76 billion, a P/E ratio of 35.94, a P/E/G ratio of 4.13 and a beta of 0.53.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data 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 net margin of 14.89% and a return on equity of 5.40%. The company had revenue of $212.96 million during the quarter, compared to analyst estimates of $214.07 million. During the same quarter last year, the business posted $0.40 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. As a group, analysts anticipate that Ormat Technologies, Inc. will post 1.92 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Tuesday, August 20th. Ormat Technologies’s dividend payout ratio is currently 21.92%.

Analysts Set New Price Targets

ORA has been the topic of several recent research reports. Roth Mkm reissued a “buy” rating and set a $80.00 price objective on shares of Ormat Technologies in a report on Monday, August 12th. Oppenheimer lifted their price target on shares of Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.67.

Insider Activity

In related news, Director Dafna Sharir sold 433 shares of the company’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 in the company, valued at $266,754.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Dafna Sharir sold 433 shares of the firm’s 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 completion of the sale, the director now owns 3,561 shares of the company’s stock, valued at $266,754.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Byron G. Wong sold 1,266 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.98, for a total value of $94,924.68. Following the transaction, 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. 1.00% of the stock is currently owned by corporate insiders.

Ormat Technologies 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.