Ormat Technologies, Inc. (NYSE:ORA) Holdings Cut by Bailard Inc.

Bailard Inc. reduced its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 12.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,189 shares of the energy company’s stock after selling 2,700 shares during the period. Bailard Inc.’s holdings in Ormat Technologies were worth $1,379,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC increased its holdings in shares of Ormat Technologies by 622.8% in the third quarter. SG Americas Securities LLC now owns 20,787 shares of the energy company’s stock worth $1,453,000 after buying an additional 17,911 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Ormat Technologies in the 3rd quarter valued at $230,000. Ballentine Partners LLC acquired a new stake in shares of Ormat Technologies in the 3rd quarter worth $317,000. Raymond James & Associates grew its holdings in shares of Ormat Technologies by 3.0% during the third quarter. Raymond James & Associates now owns 10,923 shares of the energy company’s stock worth $764,000 after buying an additional 317 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Ormat Technologies by 6.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,059 shares of the energy company’s stock valued at $1,333,000 after acquiring an additional 1,229 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Stock Down 1.2 %

Shares of NYSE ORA traded down $0.79 during midday trading on Friday, reaching $62.99. 178,990 shares of the company’s stock were exchanged, compared to its average volume of 473,718. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.20. The business’s fifty day moving average price is $65.03 and its two-hundred day moving average price is $67.02. The stock has a market capitalization of $3.80 billion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 3.04 and a beta of 0.48. Ormat Technologies, Inc. has a 52-week low of $58.73 and a 52-week high of $88.26.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Wednesday, February 21st. The energy company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The business had revenue of $241.30 million for the quarter, compared to analyst estimates of $239.71 million. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the business posted $0.73 earnings per share. Analysts forecast that Ormat Technologies, Inc. will post 2.14 EPS for the current year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Tuesday, March 5th. Ormat Technologies’s dividend payout ratio (DPR) is presently 22.97%.

Insider Activity at Ormat Technologies

In other Ormat Technologies news, Director Stanley Stern sold 1,825 shares of Ormat Technologies stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $66.95, for a total transaction of $122,183.75. Following the completion of the transaction, the director now owns 4,835 shares in the company, valued at $323,703.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. TD Cowen decreased their price target on Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating on the stock in a research report on Friday, February 23rd. Barclays cut their target price on Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Monday, February 5th. Finally, Oppenheimer lowered their target price on shares of Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating for the company in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $81.00.

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.