Nisa Investment Advisors LLC Reduces Stock Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Nisa Investment Advisors LLC reduced its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 15.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,909 shares of the energy company’s stock after selling 910 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Ormat Technologies were worth $378,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ORA. Vanguard Group Inc. increased its position in shares of Ormat Technologies by 1.2% during the first quarter. Vanguard Group Inc. now owns 5,388,571 shares of the energy company’s stock valued at $356,670,000 after buying an additional 63,943 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Ormat Technologies by 6.3% in 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 in the last quarter. Van Berkom & Associates Inc. lifted its stake in shares of Ormat Technologies by 2.0% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,322,936 shares of the energy company’s stock valued at $94,855,000 after purchasing an additional 25,799 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Ormat Technologies by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 560,029 shares of the energy company’s stock valued at $40,154,000 after purchasing an additional 15,004 shares in the last quarter. Finally, Y.D. More Investments Ltd grew its stake 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 period. 95.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on ORA shares. Roth Mkm restated a “buy” rating and set a $80.00 target price on shares of Ormat Technologies in a report on Monday, August 12th. JPMorgan Chase & Co. boosted their price objective 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. Finally, Oppenheimer raised their target price on shares of Ormat Technologies from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $81.67.

Ormat Technologies Stock Performance

Shares of Ormat Technologies stock opened at $81.90 on Wednesday. Ormat Technologies, Inc. has a 1 year low of $58.73 and a 1 year high of $82.39. The firm’s 50-day moving average is $76.29 and its 200 day moving average is $73.71. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 36.91, a PEG ratio of 4.11 and a beta of 0.53. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.97 and a quick ratio of 0.89.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. The firm had revenue of $212.96 million for 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 was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 earnings per share. Sell-side analysts anticipate that Ormat Technologies, Inc. will post 1.92 EPS for the current fiscal year.

Insider Buying and Selling

In other Ormat Technologies 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 sale, the director now directly owns 6,906 shares in the company, valued at approximately $517,811.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the transaction, the director now owns 6,906 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dafna Sharir sold 433 shares of Ormat Technologies stock in a transaction that occurred 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 completion of the sale, the director now owns 3,561 shares of the company’s stock, valued at $266,754.51. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.46% of the stock is owned by company 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.