Guinness Asset Management LTD Has $12.74 Million Stock Holdings in Ormat Technologies, Inc. $ORA

Guinness Asset Management LTD trimmed its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 8.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 133,349 shares of the energy company’s stock after selling 12,262 shares during the period. Guinness Asset Management LTD’s holdings in Ormat Technologies were worth $12,743,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of Ormat Technologies by 3.4% in the second quarter. Geode Capital Management LLC now owns 1,467,156 shares of the energy company’s stock worth $122,902,000 after purchasing an additional 48,038 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Ormat Technologies by 62.6% during the second quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock worth $89,928,000 after acquiring an additional 413,384 shares in the last quarter. Norges Bank acquired a new stake in Ormat Technologies during the second quarter valued at $56,458,000. Legal & General Group Plc raised its stake in shares of Ormat Technologies by 1.5% during the 2nd quarter. Legal & General Group Plc now owns 589,645 shares of the energy company’s stock worth $49,389,000 after purchasing an additional 8,593 shares in the last quarter. Finally, Groupama Asset Managment acquired a new stake in shares of Ormat Technologies during the 2nd quarter valued at about $41,880,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ORA shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ormat Technologies in a research report on Thursday, January 22nd. TD Cowen upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating in a report on Friday, January 9th. JPMorgan Chase & Co. upped their price objective on shares of Ormat Technologies from $99.00 to $111.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Jefferies Financial Group reissued a “buy” rating and set a $125.00 target price on shares of Ormat Technologies in a research report on Monday, November 24th. Finally, Robert W. Baird set a $143.00 price target on Ormat Technologies in a research report on Wednesday, January 14th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $129.44.

Insider Buying and Selling

In other news, insider Jessica Woelfel sold 721 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $115.00, for a total transaction of $82,915.00. Following the completion of the transaction, the insider directly owned 3,433 shares in the company, valued at $394,795. The trade was a 17.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is currently owned by corporate insiders.

Ormat Technologies Stock Down 4.4%

Ormat Technologies stock opened at $121.27 on Friday. The firm has a market cap of $7.37 billion, a price-to-earnings ratio of 55.63, a P/E/G ratio of 5.08 and a beta of 0.77. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.77 and a quick ratio of 0.70. Ormat Technologies, Inc. has a fifty-two week low of $62.27 and a fifty-two week high of $132.58. The firm has a fifty day moving average price of $116.47 and a two-hundred day moving average price of $104.79.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Monday, November 3rd. The energy company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Ormat Technologies had a return on equity of 5.35% and a net margin of 14.12%.The business had revenue of $249.73 million for the quarter, compared to analyst estimates of $235.03 million. During the same period in the previous year, the company posted $0.36 earnings per share. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. As a group, analysts forecast that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

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.