ProShare Advisors LLC Sells 3,266 Shares of Ormat Technologies, Inc. (NYSE:ORA)

ProShare Advisors LLC lowered its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 22.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 11,391 shares of the energy company’s stock after selling 3,266 shares during the quarter. ProShare Advisors LLC’s holdings in Ormat Technologies were worth $817,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. 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 acquiring an additional 63,943 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of 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 valued at $104,030,000 after purchasing an additional 86,291 shares during the last quarter. Van Berkom & Associates Inc. raised its stake in shares of Ormat Technologies by 2.0% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,322,936 shares of the energy company’s stock worth $94,855,000 after purchasing an additional 25,799 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Ormat Technologies by 3.5% in the 4th quarter. Wellington Management Group LLP now owns 1,041,169 shares of the energy company’s stock worth $78,910,000 after buying an additional 35,665 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in 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 buying an additional 15,004 shares during the period. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Trading Up 0.5 %

Shares of ORA stock opened at $77.47 on Friday. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 34.90, a PEG ratio of 3.71 and a beta of 0.53. The company’s fifty day simple moving average is $74.54 and its two-hundred day simple moving average is $71.22. Ormat Technologies, Inc. has a 1 year low of $58.73 and a 1 year high of $78.51. 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 released its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. Ormat Technologies had a return on equity of 5.40% and a net margin of 14.89%. The company had revenue of $212.96 million for the quarter, compared to analyst estimates of $214.07 million. During the same period in the previous year, the company posted $0.40 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, analysts anticipate that Ormat Technologies, Inc. will post 2.04 earnings per share for the current year.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.62%. Ormat Technologies’s dividend payout ratio (DPR) is currently 21.62%.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Roth Mkm reiterated a “buy” rating and issued a $80.00 price objective on shares of Ormat Technologies in a research note on Monday, August 12th. Finally, Oppenheimer raised their target price on Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $81.67.

Insider Activity 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 sale, the director now directly owns 6,906 shares in the company, valued at approximately $517,811.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.98, for a total value of $94,924.68. Following the sale, the director now owns 6,906 shares of the company’s stock, valued at approximately $517,811.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dafna Sharir sold 433 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $74.91, for a total value of $32,436.03. Following the transaction, the director now directly owns 3,561 shares of the company’s stock, valued at approximately $266,754.51. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate 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.