Ormat Technologies, Inc. (NYSE:ORA) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 54.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 35,557 shares of the energy company’s stock after selling 41,700 shares during the period. Renaissance Technologies LLC owned about 0.06% of Ormat Technologies worth $2,549,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in shares of Ormat Technologies by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company’s stock valued at $104,030,000 after acquiring an additional 86,291 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Ormat Technologies by 8.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 31,238 shares of the energy company’s stock valued at $2,240,000 after acquiring an additional 2,482 shares during the last quarter. Meeder Asset Management Inc. lifted its position in shares of Ormat Technologies by 194.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 28,077 shares of the energy company’s stock valued at $2,013,000 after acquiring an additional 18,546 shares during the last quarter. Y.D. More Investments Ltd lifted its position in shares of Ormat Technologies by 1,011.5% during the 2nd quarter. Y.D. More Investments Ltd now owns 493,619 shares of the energy company’s stock valued at $34,943,000 after acquiring an additional 449,209 shares during the last quarter. Finally, Jupiter Asset Management Ltd. lifted its position in shares of Ormat Technologies by 5.8% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 195,811 shares of the energy company’s stock valued at $14,040,000 after acquiring an additional 10,687 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Trading Down 0.4 %

NYSE ORA opened at $76.65 on Wednesday. Ormat Technologies, Inc. has a 1-year low of $58.73 and a 1-year high of $78.51. 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 company has a market capitalization of $4.63 billion, a PE ratio of 34.53, a price-to-earnings-growth ratio of 3.71 and a beta of 0.53. The firm’s fifty day simple moving average is $74.57 and its 200-day simple moving average is $71.35.

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

Ormat Technologies Announces Dividend

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

Insiders Place Their Bets

In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the transaction, the director now directly owns 6,906 shares of the company’s stock, valued at $517,811.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the transaction, the director now directly owns 6,906 shares of the company’s stock, valued at $517,811.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dafna Sharir sold 433 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total transaction of $32,436.03. Following the transaction, the director now directly owns 3,561 shares in the company, valued at $266,754.51. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ORA shares. JPMorgan Chase & Co. boosted their target price on shares of Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Oppenheimer boosted their target price 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. Finally, Roth Mkm reissued a “buy” rating and set a $80.00 target price on shares of Ormat Technologies in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $81.67.

Ormat Technologies 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.