Swedbank AB Has $6.73 Million Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

Swedbank AB reduced its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 17.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 87,521 shares of the energy company’s stock after selling 18,676 shares during the quarter. Swedbank AB owned 0.14% of Ormat Technologies worth $6,734,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Ormat Technologies by 15.8% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 144,778 shares of the energy company’s stock valued at $9,583,000 after buying an additional 19,797 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Ormat Technologies by 48.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,104 shares of the energy company’s stock valued at $4,574,000 after acquiring an additional 22,413 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Ormat Technologies during the 1st quarter worth $631,000. Mizuho Markets Americas LLC grew its position in Ormat Technologies by 23.6% during the 1st quarter. Mizuho Markets Americas LLC now owns 133,198 shares of the energy company’s stock worth $8,816,000 after acquiring an additional 25,438 shares during the last quarter. Finally, Dudley & Shanley Inc. increased its holdings in Ormat Technologies by 300.0% in the 1st quarter. Dudley & Shanley Inc. now owns 36,400 shares of the energy company’s stock worth $2,409,000 after purchasing an additional 27,300 shares in the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director Dafna Sharir sold 433 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 3,561 shares in the company, valued at approximately $266,754.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Dafna Sharir sold 433 shares of the company’s 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 transaction, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Byron G. Wong sold 1,266 shares of the company’s 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 owns 6,906 shares in the company, valued at approximately $517,811.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price target on Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Oppenheimer boosted their target price 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. Finally, Roth Mkm reiterated a “buy” rating and set a $80.00 price target on shares of Ormat Technologies in a report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.67.

Ormat Technologies Stock Up 1.3 %

Shares of NYSE ORA opened at $78.31 on Friday. The company’s 50 day moving average price is $74.78 and its 200-day moving average price is $72.26. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 0.97. Ormat Technologies, Inc. has a 52-week low of $58.73 and a 52-week high of $78.89. The company has a market capitalization of $4.73 billion, a P/E ratio of 35.76, a price-to-earnings-growth ratio of 3.97 and a beta of 0.53.

Ormat Technologies (NYSE:ORA) last released its earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.03. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The business had revenue of $212.96 million for the quarter, compared to analyst estimates of $214.07 million. During the same quarter in the previous year, the business earned $0.40 earnings per share. Ormat Technologies’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities analysts forecast that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued 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 yield of 0.61%. Ormat Technologies’s payout ratio is currently 21.92%.

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.