Thrivent Financial for Lutherans Decreases Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Thrivent Financial for Lutherans cut its stake in Ormat Technologies, Inc. (NYSE:ORA) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,739 shares of the energy company’s stock after selling 353 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Ormat Technologies were worth $980,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ORA. Blue Trust Inc. grew its stake in shares of Ormat Technologies by 180.3% in 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 in the last quarter. UMB Bank n.a. boosted its holdings in Ormat Technologies by 107.7% in the 3rd quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock worth $47,000 after acquiring an additional 320 shares during the period. GAMMA Investing LLC grew its position in Ormat Technologies by 115.3% in the second quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock valued at $52,000 after acquiring an additional 391 shares in the last quarter. DMC Group LLC purchased a new stake in shares of Ormat Technologies during the third quarter valued at approximately $204,000. Finally, nVerses Capital LLC raised its stake in shares of Ormat Technologies by 311.1% during the second quarter. nVerses Capital LLC now owns 3,700 shares of the energy company’s stock valued at $265,000 after purchasing an additional 2,800 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Stock Up 0.1 %

ORA stock opened at $81.70 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The firm has a 50 day simple moving average of $78.89 and a 200-day simple moving average of $75.57. The company has a market capitalization of $4.94 billion, a P/E ratio of 41.68, a PEG ratio of 4.22 and a beta of 0.53. Ormat Technologies, Inc. has a twelve month low of $59.41 and a twelve month high of $84.30.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.05. The company had revenue of $211.80 million during the quarter, compared to analyst estimates of $215.53 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the business earned $0.47 EPS. On average, equities research analysts predict that Ormat Technologies, Inc. will post 1.93 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.59%. The ex-dividend date is Wednesday, November 20th. Ormat Technologies’s dividend payout ratio is currently 24.49%.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the completion of the sale, the director now owns 6,906 shares in the company, valued at $517,811.88. The trade was a 15.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Roth Mkm restated a “buy” rating and issued a $92.00 target price (up from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Oppenheimer upped their price objective on shares of Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, November 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $84.50.

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.