Ormat Technologies, Inc. (NYSE:ORA) Position Lowered by Creative Planning

Creative Planning decreased its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 4.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,647 shares of the energy company’s stock after selling 521 shares during the period. Creative Planning’s holdings in Ormat Technologies were worth $896,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Ormat Technologies by 1.2% during the first quarter. Vanguard Group Inc. now owns 5,388,571 shares of the energy company’s stock worth $356,670,000 after purchasing an additional 63,943 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Ormat Technologies by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company’s stock worth $104,030,000 after purchasing an additional 86,291 shares during the last quarter. Van Berkom & Associates Inc. lifted its holdings in Ormat Technologies by 2.0% in the second quarter. Van Berkom & Associates Inc. now owns 1,322,936 shares of the energy company’s stock worth $94,855,000 after acquiring an additional 25,799 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Ormat Technologies by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 560,029 shares of the energy company’s stock worth $40,154,000 after acquiring an additional 15,004 shares during the last quarter. Finally, Y.D. More Investments Ltd lifted its holdings in Ormat Technologies by 1,011.5% in the second quarter. Y.D. More Investments Ltd now owns 493,619 shares of the energy company’s stock worth $34,943,000 after acquiring an additional 449,209 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports 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 report on Tuesday, July 16th. Oppenheimer raised their target price on shares of Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, Roth Mkm reissued a “buy” rating and issued a $80.00 target price on shares of Ormat Technologies in a report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $81.67.

Insider Activity

In related news, Director Dafna Sharir sold 433 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 3,561 shares of the company’s stock, valued at $266,754.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.98, for a total value of $94,924.68. Following the transaction, the director now owns 6,906 shares of the company’s stock, valued at approximately $517,811.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dafna Sharir sold 433 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total value of $32,436.03. Following the completion of the transaction, the director now directly owns 3,561 shares in the company, valued at $266,754.51. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Ormat Technologies Stock Performance

ORA opened at $78.71 on Friday. The business’s 50 day moving average is $76.08 and its 200-day moving average is $73.28. The stock has a market cap of $4.76 billion, a PE ratio of 35.94, a price-to-earnings-growth ratio of 4.19 and a beta of 0.53. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.72. Ormat Technologies, Inc. has a twelve month low of $58.73 and a twelve month high of $82.39.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The company had revenue of $212.96 million for the quarter, compared to analysts’ expectations of $214.07 million. Ormat Technologies had a return on equity of 5.40% and a net margin of 14.89%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 earnings per share. On average, analysts predict that Ormat Technologies, Inc. will post 1.92 earnings per share for the current year.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.61%. Ormat Technologies’s dividend payout ratio (DPR) is presently 21.92%.

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.