Ormat Technologies, Inc. $ORA Position Reduced by Global Alpha Capital Management Ltd.

Global Alpha Capital Management Ltd. decreased its position in Ormat Technologies, Inc. (NYSE:ORA) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,720,503 shares of the energy company’s stock after selling 27,297 shares during the quarter. Ormat Technologies accounts for about 11.6% of Global Alpha Capital Management Ltd.’s investment portfolio, making the stock its largest holding. Global Alpha Capital Management Ltd.’s holdings in Ormat Technologies were worth $189,701,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ORA. Signaturefd LLC boosted its holdings in Ormat Technologies by 13.0% in the fourth quarter. Signaturefd LLC now owns 746 shares of the energy company’s stock worth $82,000 after purchasing an additional 86 shares during the period. Jones Financial Companies Lllp raised 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 valued at $35,000 after purchasing an additional 113 shares in the last quarter. State of Wyoming raised its stake in shares of Ormat Technologies by 6.7% during the fourth quarter. State of Wyoming now owns 2,091 shares of the energy company’s stock valued at $231,000 after purchasing an additional 131 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Ormat Technologies by 7.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,167 shares of the energy company’s stock valued at $239,000 after purchasing an additional 144 shares in the last quarter. Finally, CWM LLC raised its position in Ormat Technologies by 14.2% in the fourth quarter. CWM LLC now owns 1,254 shares of the energy company’s stock worth $139,000 after acquiring an additional 156 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Stock Down 1.6%

Shares of NYSE:ORA opened at $140.21 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $8.62 billion, a P/E ratio of 68.06, a price-to-earnings-growth ratio of 5.97 and a beta of 0.85. Ormat Technologies, Inc. has a 12-month low of $76.96 and a 12-month high of $146.39. The stock’s 50-day moving average price is $122.04 and its 200-day moving average price is $117.23.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.38. The company had revenue of $403.91 million for the quarter, compared to analysts’ expectations of $349.17 million. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.97%.Ormat Technologies’s quarterly revenue was up 75.8% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. On average, equities analysts anticipate that Ormat Technologies, Inc. will post 2.35 earnings per share for the current year.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 20th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Wednesday, May 20th. Ormat Technologies’s payout ratio is presently 23.30%.

Insider Buying and Selling

In other news, Director Dafna Sharir sold 883 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $384,461.60. The trade was a 21.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Assi Ginzburg sold 17,776 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $134.75, for a total transaction of $2,395,316.00. Following the completion of the transaction, the chief financial officer directly owned 1,970 shares of the company’s stock, valued at $265,457.50. This represents a 90.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,721 shares of company stock worth $4,105,657 over the last 90 days. 0.56% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ORA shares. Oppenheimer reiterated an “outperform” rating and issued a $144.00 price target on shares of Ormat Technologies in a research report on Friday, May 8th. JPMorgan Chase & Co. lifted their target price on Ormat Technologies from $106.00 to $123.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. TD Cowen lowered their target price on Ormat Technologies from $131.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Jefferies Financial Group lowered Ormat Technologies from a “buy” rating to a “hold” rating and lifted their price target for the company from $125.00 to $130.00 in a report on Friday, February 13th. Finally, Robert W. Baird reduced their price target on Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, February 27th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $133.18.

About Ormat Technologies

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.