Alps Advisors Inc. Sells 14,575 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Alps Advisors Inc. decreased its position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 19.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,193 shares of the energy company's stock after selling 14,575 shares during the period. Alps Advisors Inc. owned 0.10% of Ormat Technologies worth $4,401,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Stuart Chaussee & Associates Inc. bought a new position in Ormat Technologies in the fourth quarter valued at about $34,000. AlphaQuest LLC boosted its holdings in Ormat Technologies by 4,691.7% in the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company's stock valued at $39,000 after acquiring an additional 563 shares during the last quarter. UMB Bank n.a. boosted its holdings in Ormat Technologies by 42.6% in the first quarter. UMB Bank n.a. now owns 880 shares of the energy company's stock valued at $62,000 after acquiring an additional 263 shares during the last quarter. Headlands Technologies LLC bought a new position in Ormat Technologies in the fourth quarter valued at about $66,000. Finally, Sterling Capital Management LLC boosted its holdings in Ormat Technologies by 897.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,856 shares of the energy company's stock valued at $126,000 after acquiring an additional 1,670 shares during the last quarter. Institutional investors own 95.49% of the company's stock.

Insiders Place Their Bets

In related news, Director Dafna Sharir sold 1,601 shares of Ormat Technologies stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $85.63, for a total value of $137,093.63. Following the sale, the director owned 3,238 shares of the company's stock, valued at approximately $277,269.94. This trade represents a 33.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Granot sold 950 shares of Ormat Technologies stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $73.10, for a total value of $69,445.00. Following the completion of the sale, the director directly owned 2,713 shares in the company, valued at approximately $198,320.30. This represents a 25.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,329 shares of company stock worth $423,443 in the last 90 days. Company insiders own 0.56% of the company's stock.

Analyst Upgrades and Downgrades

ORA has been the topic of several analyst reports. Barclays increased their target price on Ormat Technologies from $86.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday. Wall Street Zen raised Ormat Technologies from a "sell" rating to a "hold" rating in a research note on Monday, April 7th. Finally, Jefferies Financial Group increased their target price on Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, March 25th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $84.71.

Ormat Technologies Trading Down 0.8%

NYSE ORA opened at $87.82 on Friday. The firm has a market cap of $5.32 billion, a P/E ratio of 42.63, a P/E/G ratio of 4.27 and a beta of 0.64. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.97 and a quick ratio of 0.90. The stock's 50-day moving average is $78.86 and its 200-day moving average is $72.12. Ormat Technologies, Inc. has a one year low of $61.58 and a one year high of $88.60.

Ormat Technologies (NYSE:ORA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.10. The company had revenue of $229.76 million for the quarter, compared to analyst estimates of $228.33 million. Ormat Technologies had a return on equity of 5.35% and a net margin of 14.18%. Ormat Technologies's revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 earnings per share. Sell-side analysts anticipate that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 21st were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Wednesday, May 21st. Ormat Technologies's dividend payout ratio is currently 23.30%.

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.

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