Swedbank AB Has $5.46 Million Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

Swedbank AB decreased its holdings in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,550 shares of the energy company's stock after selling 6,971 shares during the quarter. Swedbank AB owned about 0.13% of Ormat Technologies worth $5,455,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in Ormat Technologies by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 356 shares of the energy company's stock worth $26,000 after acquiring an additional 229 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Ormat Technologies by 132.4% in the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company's stock worth $27,000 after purchasing an additional 229 shares during the last quarter. UMB Bank n.a. raised its position in Ormat Technologies by 107.7% during the third quarter. UMB Bank n.a. now owns 617 shares of the energy company's stock valued at $47,000 after acquiring an additional 320 shares in the last quarter. GAMMA Investing LLC grew its holdings in Ormat Technologies by 44.0% in the third 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 period. Finally, Mendota Financial Group LLC acquired a new stake in shares of Ormat Technologies in the fourth quarter worth approximately $98,000. Institutional investors own 95.49% of the company's stock.

Ormat Technologies Trading Up 2.7 %

NYSE:ORA traded up $1.69 during midday trading on Wednesday, reaching $64.39. 486,101 shares of the stock traded hands, compared to its average volume of 567,361. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. The company has a fifty day moving average of $69.87 and a 200 day moving average of $74.26. The stock has a market capitalization of $3.89 billion, a P/E ratio of 32.85, a PEG ratio of 3.00 and a beta of 0.57. Ormat Technologies, Inc. has a 12 month low of $59.41 and a 12 month high of $84.30.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.05. The business 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 business's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 EPS. On average, research analysts predict that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Insider Buying and Selling

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

Analyst Ratings Changes

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

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.