Ormat Technologies, Inc. (NYSE:ORA) Shares Sold by Guinness Asset Management LTD

Guinness Asset Management LTD lowered its holdings in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 8.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 360,569 shares of the energy company's stock after selling 33,287 shares during the period. Guinness Asset Management LTD owned approximately 0.60% of Ormat Technologies worth $27,744,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ORA. Vanguard Group Inc. boosted its stake in shares of Ormat Technologies by 1.2% in the first quarter. Vanguard Group Inc. now owns 5,388,571 shares of the energy company's stock valued at $356,670,000 after purchasing an additional 63,943 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Ormat Technologies by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company's stock valued at $104,030,000 after purchasing an additional 86,291 shares during the period. Van Berkom & Associates Inc. boosted its stake in shares of Ormat Technologies by 2.0% in the second quarter. Van Berkom & Associates Inc. now owns 1,322,936 shares of the energy company's stock valued at $94,855,000 after purchasing an additional 25,799 shares during the period. Wellington Management Group LLP boosted its stake 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 acquiring an additional 35,665 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Ormat Technologies by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 560,029 shares of the energy company's stock valued at $40,154,000 after acquiring an additional 15,004 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company's stock.

Analyst Ratings Changes

ORA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Ormat Technologies from $69.00 to $75.00 and gave the company a "neutral" rating in a research note on Tuesday, July 16th. Roth Mkm reiterated a "buy" rating and set a $80.00 price objective on shares of Ormat Technologies in a research note on Monday, August 12th. Finally, Oppenheimer increased their price objective on shares of Ormat Technologies from $85.00 to $86.00 and gave the company an "outperform" rating in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $81.67.

Ormat Technologies Stock Performance

Shares of Ormat Technologies stock traded up $0.94 during trading hours on Friday, reaching $76.00. The company's stock had a trading volume of 276,410 shares, compared to its average volume of 437,887. The company's 50 day simple moving average is $74.43 and its 200 day simple moving average is $71.98. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 0.97. Ormat Technologies, Inc. has a one year low of $58.73 and a one year high of $78.51. The stock has a market cap of $4.59 billion, a P/E ratio of 34.23, a price-to-earnings-growth ratio of 3.92 and a beta of 0.53.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted 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. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The company had revenue of $212.96 million for the quarter, compared to the consensus estimate of $214.07 million. During the same period last year, the firm posted $0.40 EPS. The company's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, analysts expect that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.63%. Ormat Technologies's dividend payout ratio (DPR) is presently 21.62%.

Insider Buying and Selling

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

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.