Gotham Asset Management LLC Sells 2,352 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Gotham Asset Management LLC lowered its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 14.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 13,383 shares of the energy company’s stock after selling 2,352 shares during the period. Gotham Asset Management LLC’s holdings in Ormat Technologies were worth $906,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Ormat Technologies by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company’s stock valued at $409,305,000 after acquiring an additional 274,540 shares during the last quarter. Impax Asset Management Group plc increased its position in shares of Ormat Technologies by 7.3% during the fourth quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company’s stock worth $162,586,000 after buying an additional 163,505 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Ormat Technologies by 6.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,586,479 shares of the energy company’s stock worth $107,440,000 after buying an additional 93,418 shares during the period. Geode Capital Management LLC increased its position in shares of Ormat Technologies by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 1,373,426 shares of the energy company’s stock worth $93,029,000 after buying an additional 72,135 shares during the period. Finally, Norges Bank acquired a new stake in shares of Ormat Technologies during the fourth quarter worth $62,851,000. Institutional investors own 95.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ORA shares. StockNews.com upgraded shares of Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Monday, April 7th. Barclays increased their price objective on shares of Ormat Technologies from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. increased their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Robert W. Baird started coverage on shares of Ormat Technologies in a research report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price objective for the company. Finally, Jefferies Financial Group increased their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, March 25th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $83.29.

Insider Activity

In other news, Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $69.00, for a total transaction of $114,954.00. Following the completion of the transaction, the director now directly owns 1,910 shares in the company, valued at $131,790. This trade represents a 46.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica Woelfel sold 409 shares of Ormat Technologies stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total transaction of $29,509.35. Following the transaction, the insider now owns 6,094 shares of the company’s stock, valued at $439,682.10. This represents a 6.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,192 shares of company stock worth $225,872 over the last three months. 0.56% of the stock is currently owned by insiders.

Ormat Technologies Trading Down 0.2%

NYSE:ORA opened at $74.97 on Friday. 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 stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of 38.25, a PEG ratio of 3.18 and a beta of 0.65. The firm has a fifty day simple moving average of $71.44 and a two-hundred day simple moving average of $71.48. Ormat Technologies, Inc. has a 12 month low of $61.58 and a 12 month high of $84.30.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.10. The business had revenue of $229.76 million during the quarter, compared to analysts’ expectations of $228.33 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the company posted $0.64 earnings per share. Analysts expect that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Wednesday, May 21st. Ormat Technologies’s dividend payout ratio is currently 23.30%.

Ormat Technologies Company 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.