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

Guinness Asset Management LTD decreased its holdings in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 26.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 265,567 shares of the energy company's stock after selling 95,002 shares during the quarter. Guinness Asset Management LTD owned 0.44% of Ormat Technologies worth $17,987,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ORA. Blue Trust Inc. grew its position in shares of Ormat Technologies by 180.3% during the third quarter. Blue Trust Inc. now owns 356 shares of the energy company's stock worth $26,000 after buying an additional 229 shares in the last quarter. Versant Capital Management Inc grew its holdings in Ormat Technologies by 132.4% during the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company's stock worth $27,000 after acquiring an additional 229 shares in the last quarter. UMB Bank n.a. grew its holdings in Ormat Technologies by 107.7% during the 3rd quarter. UMB Bank n.a. now owns 617 shares of the energy company's stock worth $47,000 after acquiring an additional 320 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Ormat Technologies by 44.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,051 shares of the energy company's stock valued at $81,000 after purchasing an additional 321 shares during the last quarter. Finally, Mendota Financial Group LLC acquired a new stake in shares of Ormat Technologies in the 4th quarter valued at $98,000. Hedge funds and other institutional investors own 95.49% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Corp Orix sold 3,700,000 shares of Ormat Technologies stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $75.38, for a total transaction of $278,906,000.00. Following the completion of the sale, the insider now directly owns 2,976,077 shares in the company, valued at $224,336,684.26. The trade was a 55.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Granot sold 1,256 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $82.00, for a total transaction of $102,992.00. Following the completion of the transaction, the director now directly owns 3,576 shares of the company's stock, valued at approximately $293,232. This represents a 25.99 % decrease in their position. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ORA shares. Roth Mkm reiterated a "buy" rating and issued a $92.00 price objective (up previously from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Piper Sandler initiated coverage on shares of Ormat Technologies in a report on Thursday, December 19th. They issued a "neutral" rating and a $78.00 target price for the company. Jefferies Financial Group began coverage on Ormat Technologies in a report on Friday, January 10th. They set a "hold" rating and a $73.00 price target for the company. Finally, Oppenheimer raised their price objective on shares of Ormat Technologies from $86.00 to $91.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $82.25.

Ormat Technologies Price Performance

Shares of ORA stock traded down $0.52 during mid-day trading on Monday, reaching $67.09. The stock had a trading volume of 565,313 shares, compared to its average volume of 749,121. The company has a market cap of $4.06 billion, a P/E ratio of 34.23, a price-to-earnings-growth ratio of 3.05 and a beta of 0.57. 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 business has a 50-day simple moving average of $74.02 and a 200 day simple moving average of $75.07.

Ormat Technologies (NYSE:ORA - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.05. The firm had revenue of $211.80 million for the quarter, compared to analysts' expectations of $215.53 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The firm's revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.47 EPS. On average, sell-side analysts anticipate that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was 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.