Royal Bank of Canada Has $1.74 Million Stock Holdings in Ormat Technologies, Inc. $ORA

Royal Bank of Canada trimmed its position in Ormat Technologies, Inc. (NYSE:ORA) by 88.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 15,520 shares of the energy company’s stock after selling 114,411 shares during the period. Royal Bank of Canada’s holdings in Ormat Technologies were worth $1,737,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Ormat Technologies by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,910,292 shares of the energy company’s stock valued at $211,036,000 after acquiring an additional 43,749 shares during the last quarter. Geode Capital Management LLC raised its holdings in Ormat Technologies by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 1,611,360 shares of the energy company’s stock worth $178,033,000 after purchasing an additional 102,864 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Ormat Technologies by 32.7% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,147,863 shares of the energy company’s stock worth $128,469,000 after purchasing an additional 282,583 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Ormat Technologies by 62.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock valued at $89,928,000 after purchasing an additional 413,384 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in Ormat Technologies by 155.8% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 886,526 shares of the energy company’s stock valued at $97,935,000 after purchasing an additional 540,000 shares during the period. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Stock Down 3.6%

Shares of Ormat Technologies stock opened at $109.82 on Wednesday. The company has a market capitalization of $6.75 billion, a P/E ratio of 54.10, a price-to-earnings-growth ratio of 4.55 and a beta of 0.90. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.05 and a quick ratio of 1.00. The business has a 50-day moving average of $112.60 and a two-hundred day moving average of $116.98. Ormat Technologies, Inc. has a 1 year low of $89.08 and a 1 year high of $146.39.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.24. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.66%.The company had revenue of $258.76 million during the quarter, compared to analysts’ expectations of $240.03 million. During the same period in the prior year, the firm earned $0.48 earnings per share. Ormat Technologies’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities analysts predict that Ormat Technologies, Inc. will post 2.52 EPS for the current year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.48 annualized dividend and a yield of 0.4%. Ormat Technologies’s dividend payout ratio (DPR) is 23.65%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ORA shares. Wall Street Zen cut shares of Ormat Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Roth Capital restated a “buy” rating and issued a $135.00 price objective on shares of Ormat Technologies in a report on Monday, May 11th. Barclays reduced their price objective on shares of Ormat Technologies from $127.00 to $122.00 and set an “overweight” rating on the stock in a research note on Monday, August 10th. Wolfe Research initiated coverage on shares of Ormat Technologies in a report on Monday, June 8th. They set a “peer perform” rating for the company. Finally, Oppenheimer dropped their target price on shares of Ormat Technologies from $144.00 to $141.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $130.83.

Insider Buying and Selling at Ormat Technologies

In other news, Director David Granot sold 1,766 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $134.43, for a total transaction of $237,403.38. Following the completion of the sale, the director owned 1,766 shares of the company’s stock, valued at approximately $237,403.38. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stanley Stern sold 250 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $138.42, for a total value of $34,605.00. Following the completion of the sale, the director directly owned 5,800 shares in the company, valued at $802,836. This trade represents a 4.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.50% of the company’s stock.

Ormat Technologies 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.