Dudley & Shanley Inc. Lowers Position in Ormat Technologies, Inc. (NYSE:ORA)

Dudley & Shanley Inc. cut its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 2.9% in the first quarter, Holdings Channel reports. The fund owned 30,000 shares of the energy company’s stock after selling 900 shares during the quarter. Dudley & Shanley Inc.’s holdings in Ormat Technologies were worth $2,123,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Ormat Technologies during the fourth quarter valued at about $34,000. AlphaQuest LLC lifted its position in shares of Ormat Technologies by 4,691.7% during the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock valued at $39,000 after buying an additional 563 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Ormat Technologies during the fourth quarter valued at about $66,000. Sterling Capital Management LLC lifted its position in shares of Ormat Technologies by 897.8% during the fourth quarter. Sterling Capital Management LLC now owns 1,856 shares of the energy company’s stock valued at $126,000 after buying an additional 1,670 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Ormat Technologies during the fourth quarter valued at about $182,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on ORA shares. Baird R W raised shares of Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. Wall Street Zen raised shares of Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Monday, April 7th. JPMorgan Chase & Co. upped their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Jefferies Financial Group upped their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, March 25th. Finally, Robert W. Baird assumed coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price objective on the stock. Six investment 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 has a consensus rating of “Hold” and an average price target of $83.29.

Insiders Place Their Bets

In other Ormat Technologies news, Director Dafna Sharir sold 876 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $75.00, for a total transaction of $65,700.00. Following the completion of the transaction, the director now directly owns 4,438 shares of the company’s stock, valued at approximately $332,850. This trade represents a 16.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David Granot sold 950 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $73.10, for a total transaction of $69,445.00. Following the sale, the director now directly owns 2,713 shares in the company, valued at $198,320.30. The trade was a 25.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,068 shares of company stock valued at $291,572. 0.56% of the stock is owned by insiders.

Ormat Technologies Stock Performance

ORA opened at $74.49 on Friday. Ormat Technologies, Inc. has a 52-week low of $61.58 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 company has a market cap of $4.51 billion, a P/E ratio of 38.01, a price-to-earnings-growth ratio of 3.18 and a beta of 0.65. The firm’s 50-day moving average price is $71.67 and its 200-day moving average price is $70.91.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.10. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The company had revenue of $229.76 million during the quarter, compared to analyst estimates of $228.33 million. During the same period last year, the firm posted $0.64 EPS. Ormat Technologies’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities analysts anticipate that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Wednesday, May 21st. Ormat Technologies’s dividend payout ratio is presently 23.30%.

Ormat Technologies Company 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.