Ormat Technologies, Inc. $ORA Shares Sold by Bailard Inc.

Bailard Inc. decreased its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 29.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 14,204 shares of the energy company’s stock after selling 5,900 shares during the quarter. Bailard Inc.’s holdings in Ormat Technologies were worth $1,569,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ORA. Wolff Wiese Magana LLC acquired a new position in shares of Ormat Technologies in the fourth quarter worth $33,000. Jones Financial Companies Lllp grew its stake in shares of Ormat Technologies by 43.8% during the third quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock worth $35,000 after purchasing an additional 113 shares in the last quarter. Ameriflex Group Inc. grew its stake in shares of Ormat Technologies by 1,100.0% during the third quarter. Ameriflex Group Inc. now owns 360 shares of the energy company’s stock worth $35,000 after purchasing an additional 330 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Ormat Technologies by 251.0% during the second quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company’s stock worth $44,000 after purchasing an additional 374 shares in the last quarter. Finally, USA Financial Formulas acquired a new position in shares of Ormat Technologies during the fourth quarter worth $51,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Ormat Technologies in a research note on Tuesday, April 21st. Barclays boosted their target price on shares of Ormat Technologies from $123.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Roth Mkm reiterated a “buy” rating and set a $135.00 target price on shares of Ormat Technologies in a research note on Monday. UBS Group boosted their target price on shares of Ormat Technologies from $143.00 to $152.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Citigroup boosted their target price on shares of Ormat Technologies from $110.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.64.

Insider Activity

In other news, Director Dafna Sharir sold 883 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $122.44, for a total transaction of $108,114.52. Following the completion of the sale, the director owned 3,140 shares in the company, valued at approximately $384,461.60. This represents a 21.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jessica Woelfel sold 2,359 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $105.16, for a total transaction of $248,072.44. Following the transaction, the insider directly owned 3,433 shares of the company’s stock, valued at $361,014.28. This represents a 40.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,247 shares of company stock valued at $461,735 in the last quarter. Insiders own 0.56% of the company’s stock.

Ormat Technologies Price Performance

Shares of ORA opened at $133.35 on Thursday. Ormat Technologies, Inc. has a fifty-two week low of $70.42 and a fifty-two week high of $135.33. The company has a market capitalization of $8.19 billion, a price-to-earnings ratio of 64.74, a price-to-earnings-growth ratio of 5.55 and a beta of 0.80. The firm has a 50-day simple moving average of $112.67 and a 200-day simple moving average of $114.05. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.07.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.38. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The business had revenue of $403.91 million during the quarter, compared to the consensus estimate of $349.17 million. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The business’s quarterly revenue was up 75.8% compared to the same quarter last year. On average, equities research analysts anticipate that Ormat Technologies, Inc. will post 2.27 earnings per share for the current year.

Ormat Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 20th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, May 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. Ormat Technologies’s dividend payout ratio is 23.30%.

Ormat Technologies Company Profile

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.