Inspire Investing LLC Sells 464 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Inspire Investing LLC decreased its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 8.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,909 shares of the energy company’s stock after selling 464 shares during the quarter. Inspire Investing LLC’s holdings in Ormat Technologies were worth $352,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new position in Ormat Technologies during the first quarter worth about $50,000. GAMMA Investing LLC grew its stake in Ormat Technologies by 115.3% in the 2nd quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock valued at $52,000 after buying an additional 391 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Ormat Technologies by 50.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock valued at $117,000 after acquiring an additional 514 shares during the period. TFO Wealth Partners LLC lifted its position in shares of Ormat Technologies by 9,066.7% during the fourth quarter. TFO Wealth Partners LLC now owns 275 shares of the energy company’s stock worth $227,000 after acquiring an additional 272 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Ormat Technologies in the first quarter valued at $246,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Insiders Place Their Bets

In related news, Director Dafna Sharir sold 433 shares of Ormat Technologies 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 transaction, the director now directly owns 3,561 shares of the company’s stock, valued at $266,754.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Ormat Technologies Stock Up 0.9 %

Shares of ORA opened at $75.53 on Monday. Ormat Technologies, Inc. has a 1 year low of $58.73 and a 1 year high of $78.51. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.97 and a quick ratio of 0.89. The stock has a 50 day simple moving average of $74.36 and a two-hundred day simple moving average of $70.91. The firm has a market cap of $4.56 billion, a P/E ratio of 34.02, a P/E/G ratio of 3.68 and a beta of 0.53.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The company had revenue of $212.96 million during the quarter, compared to analysts’ expectations of $214.07 million. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 EPS. On average, analysts forecast that Ormat Technologies, Inc. will post 2.04 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were given 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 0.64%. Ormat Technologies’s payout ratio is 21.62%.

Analyst Upgrades and Downgrades

ORA has been the topic of a number of recent research reports. Oppenheimer increased their price objective on Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their target price on Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $80.00 price target on shares of Ormat Technologies in a report on Monday, August 12th. 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 MarketBeat.com, 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.