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

Swedbank AB decreased its position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 17.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in Ormat Technologies by 180.3% in the third quarter. Blue Trust Inc. now owns 356 shares of the energy company's stock worth $26,000 after purchasing an additional 229 shares during the period. UMB Bank n.a. increased its position in Ormat Technologies by 107.7% in the 3rd quarter. UMB Bank n.a. now owns 617 shares of the energy company's stock valued at $47,000 after buying an additional 320 shares in the last quarter. GAMMA Investing LLC raised its stake in Ormat Technologies by 115.3% during the 2nd quarter. GAMMA Investing LLC now owns 730 shares of the energy company's stock worth $52,000 after buying an additional 391 shares during the period. DMC Group LLC acquired a new stake in Ormat Technologies in the third quarter valued at approximately $204,000. Finally, Virtu Financial LLC bought a new stake in shares of Ormat Technologies during the first quarter valued at approximately $246,000. 95.49% of the stock is owned by institutional investors and hedge funds.

Ormat Technologies Stock Performance

Shares of ORA traded up $0.46 on Thursday, reaching $81.59. 310,600 shares of the company's stock traded hands, compared to its average volume of 437,192. The stock's 50 day simple moving average is $78.63 and its two-hundred day simple moving average is $75.41. 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 52-week low of $59.41 and a 52-week high of $84.30. The stock has a market cap of $4.93 billion, a PE ratio of 41.63, a PEG ratio of 4.24 and a beta of 0.53.

Ormat Technologies (NYSE:ORA - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.05. The company had revenue of $211.80 million for the quarter, compared to the consensus estimate of $215.53 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The firm's quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 EPS. On average, analysts forecast that Ormat Technologies, Inc. will post 1.93 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.59%. Ormat Technologies's payout ratio is 24.49%.

Analyst Upgrades and Downgrades

ORA has been the subject of several recent research reports. Oppenheimer boosted their target price on shares of Ormat Technologies from $86.00 to $91.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Roth Mkm restated a "buy" rating and issued a $92.00 target price (up previously from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Three 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 a consensus target price of $84.50.

Insider Activity at Ormat Technologies

In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of Ormat Technologies stock in a transaction that occurred on 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 directly owns 6,906 shares of the company's stock, valued at approximately $517,811.88. The trade was a 15.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by company insiders.

Ormat Technologies Company 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.