Perpetual Ltd Decreases Stock Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Perpetual Ltd trimmed its position in Ormat Technologies, Inc. (NYSE:ORA) by 15.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,726 shares of the energy company’s stock after selling 2,258 shares during the quarter. Perpetual Ltd’s holdings in Ormat Technologies were worth $979,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ORA. Wellington Management Group LLP increased its position in Ormat Technologies by 3.5% during the 4th quarter. Wellington Management Group LLP now owns 1,041,169 shares of the energy company’s stock valued at $78,910,000 after purchasing an additional 35,665 shares during the period. Vanguard Group Inc. increased its position in Ormat Technologies by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 5,324,628 shares of the energy company’s stock valued at $403,554,000 after purchasing an additional 39,172 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in Ormat Technologies by 1.0% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 124,981 shares of the energy company’s stock valued at $9,472,000 after purchasing an additional 1,192 shares during the period. PNC Financial Services Group Inc. increased its position 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 purchasing an additional 514 shares during the period. Finally, Bridge Creek Capital Management LLC increased its position in Ormat Technologies by 2.8% during the 1st quarter. Bridge Creek Capital Management LLC now owns 36,831 shares of the energy company’s stock valued at $2,438,000 after purchasing an additional 1,010 shares during the period. 95.49% of the stock is owned by hedge funds and other institutional investors.

Ormat Technologies Stock Performance

Shares of Ormat Technologies stock opened at $75.99 on Friday. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 34.70, a PEG ratio of 3.92 and a beta of 0.53. The firm’s 50-day moving average is $74.43 and its 200 day moving average is $71.94. 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.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share (EPS) for the quarter, topping 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 net margin of 14.89% and a return on equity of 5.40%. Ormat Technologies’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 EPS. Sell-side analysts anticipate that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Tuesday, August 20th. Ormat Technologies’s payout ratio is 21.92%.

Analyst Ratings Changes

A number of analysts have recently weighed in on ORA shares. JPMorgan Chase & Co. upped their target price on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Oppenheimer upped their target price on shares of Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $80.00 target price on shares of Ormat Technologies in a research report on Monday, August 12th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.67.

Insider Buying and Selling

In related news, Director Dafna Sharir sold 433 shares of the company’s stock in a transaction dated 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 owns 3,561 shares in the company, valued at $266,754.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Ormat Technologies news, Director Dafna Sharir sold 433 shares of the company’s 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 transaction, the director now owns 3,561 shares in the company, valued at approximately $266,754.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Byron G. Wong sold 1,266 shares of the company’s stock in a transaction dated 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 owns 6,906 shares in the company, valued at $517,811.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

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.