Ormat Technologies, Inc. (NYSE:ORA) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lessened its position in Ormat Technologies, Inc. (NYSE:ORA) by 14.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 40,204 shares of the energy company’s stock after selling 6,741 shares during the period. Texas Permanent School Fund Corp owned approximately 0.07% of Ormat Technologies worth $2,883,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ORA. EntryPoint Capital LLC acquired a new stake in shares of Ormat Technologies in the 1st quarter worth $50,000. GAMMA Investing LLC lifted its stake in shares of Ormat Technologies by 115.3% in the 2nd quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock worth $52,000 after acquiring an additional 391 shares during the period. Manchester Capital Management LLC lifted its stake in shares of Ormat Technologies by 593.0% in the 4th quarter. Manchester Capital Management LLC now owns 797 shares of the energy company’s stock worth $60,000 after acquiring an additional 682 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Ormat Technologies by 50.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock worth $117,000 after acquiring an additional 514 shares during the period. Finally, TFO Wealth Partners LLC lifted its stake in shares of Ormat Technologies by 9,066.7% in the 4th quarter. TFO Wealth Partners LLC now owns 275 shares of the energy company’s stock worth $227,000 after acquiring an additional 272 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ORA. JPMorgan Chase & Co. raised their target price on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Roth Mkm reiterated a “buy” rating and issued a $80.00 price objective on shares of Ormat Technologies in a research note on Monday, August 12th. Finally, Oppenheimer raised their price objective on shares of Ormat Technologies from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ormat Technologies currently has an average rating of “Hold” and a consensus price target of $81.67.

Insider Buying and Selling at Ormat Technologies

In other news, Director Dafna Sharir sold 433 shares of Ormat Technologies stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.91, for a total transaction of $32,436.03. Following the completion of the sale, the director now directly owns 3,561 shares in the company, valued at $266,754.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by insiders.

Ormat Technologies Stock Performance

NYSE:ORA opened at $75.93 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average price of $74.09 and a two-hundred day moving average price of $70.56. Ormat Technologies, Inc. has a twelve month low of $58.73 and a twelve month high of $78.51. The company has a market capitalization of $4.59 billion, a P/E ratio of 34.20, a price-to-earnings-growth ratio of 3.61 and a beta of 0.53.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.03. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The firm had revenue of $212.96 million during the quarter, compared to the consensus estimate of $214.07 million. During the same period last year, the firm posted $0.40 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, research analysts expect that Ormat Technologies, Inc. will post 2.04 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.48 annualized dividend and a yield of 0.63%. Ormat Technologies’s dividend payout ratio (DPR) is currently 21.62%.

About Ormat Technologies

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.