Ormat Technologies, Inc. (ORA) Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. cut its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 2.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 153,305 shares of the energy company’s stock after selling 3,683 shares during the period. Goldman Sachs Group Inc. owned approximately 0.31% of Ormat Technologies worth $8,750,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of ORA. Creative Planning boosted its stake in Ormat Technologies by 43.9% in the first quarter. Creative Planning now owns 1,874 shares of the energy company’s stock worth $107,000 after buying an additional 572 shares during the period. US Bancorp DE boosted its stake in Ormat Technologies by 33.6% in the first quarter. US Bancorp DE now owns 2,169 shares of the energy company’s stock worth $124,000 after buying an additional 545 shares during the period. Russell Investments Group Ltd. acquired a new stake in Ormat Technologies during the fourth quarter worth $128,000. SG Americas Securities LLC boosted its stake in Ormat Technologies by 16.6% in the first quarter. SG Americas Securities LLC now owns 2,285 shares of the energy company’s stock worth $130,000 after buying an additional 326 shares during the period. Finally, Quantbot Technologies LP boosted its stake in Ormat Technologies by 89.3% in the first quarter. Quantbot Technologies LP now owns 2,334 shares of the energy company’s stock worth $133,000 after buying an additional 1,101 shares during the period. Institutional investors and hedge funds own 45.91% of the company’s stock.

Shares of Ormat Technologies, Inc. (NYSE:ORA) opened at 58.02 on Tuesday. The stock’s 50 day moving average price is $58.85 and its 200 day moving average price is $57.52. Ormat Technologies, Inc. has a 12-month low of $45.30 and a 12-month high of $61.49. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 29.27 and a beta of 1.20.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Thursday, August 3rd. The energy company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. Ormat Technologies had a return on equity of 10.39% and a net margin of 15.36%. The company had revenue of $179.36 million for the quarter, compared to analyst estimates of $169.80 million. During the same period in the previous year, the company posted $0.49 EPS. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. Equities research analysts expect that Ormat Technologies, Inc. will post $2.32 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Tuesday, August 15th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, August 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.55%. Ormat Technologies’s payout ratio is 14.61%.

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A number of equities research analysts recently weighed in on the company. Oppenheimer Holdings, Inc. set a $65.00 price target on Ormat Technologies and gave the company a “buy” rating in a research note on Thursday, May 4th. Zacks Investment Research upgraded Ormat Technologies from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Friday, May 12th. Barclays PLC upgraded Ormat Technologies from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $54.00 to $59.00 in a research report on Friday, May 26th. BidaskClub upgraded Ormat Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Finally, Cowen and Company set a $67.00 price objective on Ormat Technologies and gave the stock a “buy” rating in a research report on Monday, July 17th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $65.38.

In related news, major shareholder Iv 2007 Ltd. Fimi sold 7,202,646 shares of the business’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $57.00, for a total transaction of $410,550,822.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Zvi Krieger sold 7,704 shares of the business’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $57.81, for a total value of $445,368.24. Following the sale, the vice president now owns 7,704 shares in the company, valued at $445,368.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,083,033 shares of company stock worth $631,792,760. 22.97% of the stock is currently owned by corporate insiders.

About Ormat Technologies

Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.