Ormat Technologies, Inc. (NYSE:ORA) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its stake in Ormat Technologies, Inc. (NYSE:ORA) by 5.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,594 shares of the energy company’s stock after selling 1,541 shares during the period. Amalgamated Bank’s holdings in Ormat Technologies were worth $1,892,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ORA. State of Alaska Department of Revenue lifted its position in shares of Ormat Technologies by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,221 shares of the energy company’s stock valued at $478,000 after acquiring an additional 420 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Ormat Technologies during the third quarter worth $1,113,000. DMC Group LLC acquired a new stake in Ormat Technologies in the third quarter valued at $204,000. Everett Harris & Co. CA increased its position in shares of Ormat Technologies by 25.0% in the third quarter. Everett Harris & Co. CA now owns 5,000 shares of the energy company’s stock valued at $385,000 after buying an additional 1,000 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Ormat Technologies by 180.3% during the 3rd quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock worth $26,000 after buying an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Insider Activity

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

Ormat Technologies Stock Performance

NYSE:ORA opened at $79.52 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.89. The firm has a market cap of $4.81 billion, a PE ratio of 40.57, a P/E/G ratio of 4.34 and a beta of 0.53. The firm has a 50 day simple moving average of $77.28 and a 200-day simple moving average of $74.47. Ormat Technologies, Inc. has a 1-year low of $58.73 and a 1-year high of $84.30.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.05. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The company had revenue of $211.80 million during the quarter, compared to the consensus estimate of $215.53 million. During the same period in the previous year, the firm posted $0.47 EPS. Ormat Technologies’s revenue was up 1.8% on a year-over-year basis. On average, equities analysts expect that Ormat Technologies, Inc. will post 1.9 EPS for the current year.

Ormat Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend is Wednesday, November 20th. Ormat Technologies’s dividend payout ratio (DPR) is 24.49%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ORA shares. Roth Mkm reissued a “buy” rating and issued a $92.00 price objective (up from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Oppenheimer lifted their price objective on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their target price on Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.50.

About Ormat Technologies

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.