Louisiana State Employees Retirement System Sells 300 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Louisiana State Employees Retirement System reduced its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,900 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 $1,146,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ORA. Y.D. More Investments Ltd boosted its position in Ormat Technologies by 1,011.5% in the second quarter. Y.D. More Investments Ltd now owns 493,619 shares of the energy company’s stock worth $34,943,000 after purchasing an additional 449,209 shares during the last quarter. Swedbank AB bought a new position in shares of Ormat Technologies in the first quarter valued at approximately $7,907,000. Dimensional Fund Advisors LP increased its holdings in Ormat Technologies by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company’s stock worth $104,030,000 after acquiring an additional 86,291 shares during the period. Vanguard Group Inc. increased its holdings in shares of Ormat Technologies by 1.2% in the first quarter. Vanguard Group Inc. now owns 5,388,571 shares of the energy company’s stock worth $356,670,000 after purchasing an additional 63,943 shares during the period. Finally, Beck Bode LLC increased its stake in Ormat Technologies by 34.1% in the 1st quarter. Beck Bode LLC now owns 174,882 shares of the energy company’s stock worth $11,575,000 after acquiring an additional 44,451 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ORA. 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 report on Thursday, August 8th. JPMorgan Chase & Co. raised their price target on Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Finally, Roth Mkm restated a “buy” rating and issued a $80.00 price objective on shares of Ormat Technologies in a research report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Ormat Technologies has a consensus rating of “Moderate Buy” and an average price target of $81.67.

Ormat Technologies Stock Down 0.4 %

ORA stock opened at $78.71 on Friday. The business’s 50 day moving average price is $76.16 and its two-hundred day moving average price is $73.40. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 0.97. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 35.94, a price-to-earnings-growth ratio of 4.13 and a beta of 0.53. Ormat Technologies, Inc. has a fifty-two week low of $58.73 and a fifty-two week high of $82.39.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The business had revenue of $212.96 million during the quarter, compared to the consensus estimate of $214.07 million. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 earnings per share. As a group, analysts forecast that Ormat Technologies, Inc. will post 1.92 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.61%. The ex-dividend date was Tuesday, August 20th. Ormat Technologies’s dividend payout ratio (DPR) is 21.92%.

Insider Buying and Selling at Ormat Technologies

In related news, Director Byron G. Wong sold 1,266 shares of the company’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 value of $94,924.68. Following the transaction, the director now directly owns 6,906 shares of the company’s stock, valued at approximately $517,811.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Byron G. Wong sold 1,266 shares of the stock in a transaction 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 transaction, the director now directly owns 6,906 shares of the company’s stock, valued at $517,811.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dafna Sharir sold 433 shares of the stock in a transaction dated 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 transaction, the director now directly owns 3,561 shares in the company, valued at approximately $266,754.51. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company 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.