Glenmede Trust Co. NA Trims Position in Ormat Technologies, Inc. (NYSE:ORA)

Glenmede Trust Co. NA lessened its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 5.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,985 shares of the energy company’s stock after selling 310 shares during the period. Glenmede Trust Co. NA’s holdings in Ormat Technologies were worth $384,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of ORA. DekaBank Deutsche Girozentrale raised its position in Ormat Technologies by 81.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 9,049 shares of the energy company’s stock valued at $597,000 after purchasing an additional 4,072 shares during the period. GAMMA Investing LLC raised 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 purchasing an additional 391 shares during the period. SG Americas Securities LLC raised its position in Ormat Technologies by 287.4% in the second quarter. SG Americas Securities LLC now owns 8,163 shares of the energy company’s stock valued at $585,000 after purchasing an additional 6,056 shares during the period. Nisa Investment Advisors LLC raised its position in Ormat Technologies by 19.8% in the second quarter. Nisa Investment Advisors LLC now owns 5,819 shares of the energy company’s stock valued at $417,000 after purchasing an additional 961 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Ormat Technologies by 2.8% in 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 during the period. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ORA shares. Oppenheimer upped their price target on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Roth Mkm reiterated a “buy” rating and issued a $92.00 price objective (up previously from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ormat Technologies presently has an average rating of “Moderate Buy” and an average price target of $84.50.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were 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 $517,811.88. This represents a 15.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Granot sold 1,256 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $82.00, for a total transaction of $102,992.00. Following the completion of the transaction, the director now owns 3,576 shares in the company, valued at $293,232. This represents a 25.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Ormat Technologies Stock Down 1.0 %

Ormat Technologies stock opened at $78.75 on Thursday. Ormat Technologies, Inc. has a twelve month low of $59.41 and a twelve month high of $84.30. The stock’s fifty day simple moving average is $79.13 and its 200-day simple moving average is $75.70. 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 market capitalization of $4.76 billion, a P/E ratio of 40.18, a P/E/G ratio of 4.23 and a beta of 0.53.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The business had revenue of $211.80 million for the quarter, compared to analyst estimates of $215.53 million. During the same quarter in the prior year, the company earned $0.47 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. As a group, equities analysts expect that Ormat Technologies, Inc. will post 1.93 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Wednesday, November 20th. Ormat Technologies’s dividend payout ratio is presently 24.49%.

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.