Goldman Sachs Group Inc. cut its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 2.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Edmond DE Rothschild Holding S.A. increased its position in Ormat Technologies by 0.5% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 11,131 shares of the energy company’s stock valued at $633,000 after buying an additional 60 shares in the last quarter. Capital One National Association increased its position in Ormat Technologies by 1.0% in the first quarter. Capital One National Association now owns 11,777 shares of the energy company’s stock valued at $672,000 after buying an additional 117 shares in the last quarter. Navellier & Associates Inc increased its position in Ormat Technologies by 2.3% in the first quarter. Navellier & Associates Inc now owns 8,090 shares of the energy company’s stock valued at $462,000 after buying an additional 180 shares in the last quarter. SG Americas Securities LLC increased its position 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 valued at $130,000 after buying an additional 326 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Ormat Technologies by 13.5% in the first quarter. Victory Capital Management Inc. now owns 3,369 shares of the energy company’s stock valued at $192,000 after buying an additional 400 shares in the last quarter. 45.33% of the stock is owned by institutional investors.
Shares of Ormat Technologies, Inc. (NYSE:ORA) traded down 1.09% during trading on Tuesday, reaching $56.44. The company’s stock had a trading volume of 148,897 shares. Ormat Technologies, Inc. has a one year low of $45.30 and a one year high of $61.49. The stock’s 50 day moving average is $58.16 and its 200 day moving average is $57.76. The firm has a market cap of $2.82 billion, a P/E ratio of 25.75 and a beta of 1.20.
Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Thursday, August 3rd. The energy company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. Ormat Technologies had a return on equity of 10.25% and a net margin of 15.36%. The firm had revenue of $179.36 million during the quarter, compared to analyst estimates of $169.80 million. During the same quarter in the previous year, the business earned $0.49 EPS. Ormat Technologies’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, equities analysts forecast that Ormat Technologies, Inc. will post $2.28 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Tuesday, August 15th will be paid a $0.08 dividend. The ex-dividend date is Friday, August 11th. This represents a $0.32 annualized dividend and a dividend yield of 0.57%. Ormat Technologies’s dividend payout ratio is presently 14.61%.
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A number of analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Cowen and Company set a $67.00 price target on Ormat Technologies and gave the stock a “buy” rating in a report on Monday, July 17th. BidaskClub cut Ormat Technologies from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. J P Morgan Chase & Co upgraded Ormat Technologies from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $65.00 to $71.00 in a report on Wednesday, June 7th. Finally, Barclays PLC upgraded Ormat Technologies from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $54.00 to $59.00 in a report on Friday, May 26th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $65.38.
In other Ormat Technologies news, SVP Etty Rosner sold 879 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $56.39, for a total transaction of $49,566.81. Following the completion of the sale, the senior vice president now directly owns 879 shares in the company, valued at approximately $49,566.81. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Shimon Hatzir sold 1,169 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $61.00, for a total value of $71,309.00. Following the completion of the sale, the vice president now owns 1,169 shares of the company’s stock, valued at $71,309. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,068,033 shares of company stock valued at $630,943,835. 22.97% of the stock is owned by company insiders.
Ormat Technologies Company Profile
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.
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