Swiss National Bank Sells 600 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Swiss National Bank cut its stake in Ormat Technologies, Inc. (NYSE:ORA) by 0.6% in the third quarter, Holdings Channel reports. The institutional investor owned 106,234 shares of the energy company’s stock after selling 600 shares during the period. Swiss National Bank’s holdings in Ormat Technologies were worth $8,174,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ORA. Vanguard Group Inc. lifted its position in Ormat Technologies by 1.2% in the first quarter. Vanguard Group Inc. now owns 5,388,571 shares of the energy company’s stock worth $356,670,000 after buying an additional 63,943 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Ormat Technologies by 1.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 55,555 shares of the energy company’s stock worth $3,676,000 after purchasing an additional 1,007 shares during the period. EntryPoint Capital LLC purchased a new stake in Ormat Technologies in the first quarter worth $50,000. Quadrature Capital Ltd purchased a new stake in Ormat Technologies in the first quarter worth $309,000. Finally, Tidal Investments LLC increased its stake in Ormat Technologies by 433.4% in the first quarter. Tidal Investments LLC now owns 15,075 shares of the energy company’s stock worth $998,000 after purchasing an additional 12,249 shares during the period. 95.49% of the stock is currently owned by institutional investors.

Insider Activity at Ormat Technologies

In related news, Director Byron G. Wong sold 1,266 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.98, for a total transaction of $94,924.68. Following the sale, the director now owns 6,906 shares of the company’s stock, valued at $517,811.88. This trade represents a 15.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ORA. Roth Mkm reiterated a “buy” rating and issued a $92.00 target price (up previously from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Oppenheimer increased their target price on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.50.

Ormat Technologies Stock Performance

Shares of Ormat Technologies stock opened at $82.02 on Tuesday. The firm has a market cap of $4.96 billion, a P/E ratio of 41.85, a P/E/G ratio of 4.18 and a beta of 0.53. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. Ormat Technologies, Inc. has a 12 month low of $59.41 and a 12 month high of $84.30. The stock’s fifty day moving average price is $78.26 and its 200-day moving average price is $75.20.

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

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors 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 yield of 0.59%. The ex-dividend date is Wednesday, November 20th. Ormat Technologies’s payout ratio is currently 24.49%.

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.