Swedbank AB Sells 18,676 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Swedbank AB lowered its stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 17.6% during the third quarter, according to the company in its most recent Form 13F filing with the 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 about 0.14% of Ormat Technologies worth $6,734,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Ormat Technologies by 1.2% during 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 period. Dimensional Fund Advisors LP grew its stake in shares of Ormat Technologies by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company's stock worth $104,030,000 after acquiring an additional 86,291 shares in the last quarter. Van Berkom & Associates Inc. grew its stake in shares of Ormat Technologies by 2.0% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,322,936 shares of the energy company's stock worth $94,855,000 after acquiring an additional 25,799 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Ormat Technologies by 3.5% in the fourth quarter. Wellington Management Group LLP now owns 1,041,169 shares of the energy company's stock valued at $78,910,000 after purchasing an additional 35,665 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Ormat Technologies by 2.8% in 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 purchasing an additional 15,004 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company's stock.

Insiders Place Their Bets

In related news, Director Byron G. Wong sold 1,266 shares of the company's 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 transaction, the director now owns 6,906 shares in the company, valued at approximately $517,811.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Dafna Sharir sold 433 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total transaction of $32,436.03. Following the transaction, the director now owns 3,561 shares in the company, valued at approximately $266,754.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Byron G. Wong sold 1,266 shares of the business's 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.46% of the company's stock.

Ormat Technologies Stock Performance

Shares of ORA stock traded up $1.04 on Friday, reaching $78.31. The stock had a trading volume of 443,672 shares, compared to its average volume of 361,384. Ormat Technologies, Inc. has a 12 month low of $58.73 and a 12 month high of $78.89. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 35.76, a P/E/G ratio of 3.97 and a beta of 0.53. The firm's 50-day moving average is $74.90 and its two-hundred day moving average is $72.35. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.72.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.03. Ormat Technologies had a return on equity of 5.40% and a net margin of 14.89%. The firm had revenue of $212.96 million for the quarter, compared to the consensus estimate of $214.07 million. During the same quarter in the previous year, the business earned $0.40 earnings per share. The business's revenue was up 9.3% compared to the same quarter last year. On average, research analysts expect 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 was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.61%. The ex-dividend date was Tuesday, August 20th. Ormat Technologies's dividend payout ratio is 21.92%.

Analyst Ratings Changes

ORA has been the subject of a number of analyst reports. Oppenheimer raised their target price on shares of Ormat Technologies from $85.00 to $86.00 and gave the company an "outperform" rating in a research report on Thursday, August 8th. Roth Mkm reiterated a "buy" rating and set a $80.00 target price on shares of Ormat Technologies in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. raised their price target 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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Ormat Technologies has an average rating of "Moderate Buy" and a consensus target price of $81.67.

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.