Ormat Technologies, Inc. (NYSE:ORA) Shares Sold by Swedbank AB

Swedbank AB reduced its position in Ormat Technologies, Inc. (NYSE:ORA) by 17.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,521 shares of the energy company’s stock after selling 18,676 shares during the quarter. Swedbank AB owned approximately 0.14% of Ormat Technologies worth $6,734,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ORA. Susquehanna International Group Ltd. acquired a new stake in shares of Ormat Technologies in the second quarter valued at $1,006,000. Tidal Investments LLC raised its position in Ormat Technologies by 433.4% in the 1st quarter. Tidal Investments LLC now owns 15,075 shares of the energy company’s stock valued at $998,000 after purchasing an additional 12,249 shares in the last quarter. Y.D. More Investments Ltd boosted its stake in shares of Ormat Technologies by 1,011.5% in 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 buying an additional 449,209 shares during the period. Chesapeake Capital Corp IL acquired a new position in shares of Ormat Technologies during the third quarter worth about $522,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Ormat Technologies by 2.8% during 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 buying an additional 15,004 shares during the period. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Byron G. Wong sold 1,266 shares of Ormat Technologies stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.98, for a total value 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 trade was a 15.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.46% of the company’s stock.

Ormat Technologies Stock Performance

Shares of ORA opened at $81.59 on Thursday. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 41.40, a price-to-earnings-growth ratio of 4.24 and a beta of 0.53. Ormat Technologies, Inc. has a 52-week low of $59.41 and a 52-week high of $84.30. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The stock has a 50 day moving average price of $78.51 and a 200 day moving average price of $75.37.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.05. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The business had revenue of $211.80 million during the quarter, compared to analysts’ expectations of $215.53 million. During the same quarter in the prior year, the business posted $0.47 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. Research analysts predict that Ormat Technologies, Inc. will post 1.93 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Wednesday, November 20th. Ormat Technologies’s dividend payout ratio (DPR) is currently 24.49%.

Analysts Set New Price Targets

ORA has been the subject of a number of recent research reports. Oppenheimer lifted their price target on shares of Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Roth Mkm restated a “buy” rating and issued a $92.00 price objective (up from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Ormat Technologies currently has an average rating of “Moderate Buy” and an average price target of $84.50.

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.