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

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

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Ormat Technologies by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company's stock valued at $409,305,000 after acquiring an additional 274,540 shares during the last quarter. Element Capital Management LLC purchased a new stake in Ormat Technologies in the fourth quarter worth about $2,113,000. Daiwa Securities Group Inc. purchased a new stake in Ormat Technologies in the fourth quarter worth about $752,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Ormat Technologies by 273,109.4% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 956,233 shares of the energy company's stock worth $67,673,000 after purchasing an additional 955,883 shares in the last quarter. Finally, Franklin Resources Inc. bought a new position in Ormat Technologies in the fourth quarter worth about $526,000. Hedge funds and other institutional investors own 95.49% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ORA. Wall Street Zen upgraded shares of Ormat Technologies from a "sell" rating to a "hold" rating in a report on Monday, April 7th. Barclays raised their price objective on Ormat Technologies from $86.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, Jefferies Financial Group raised their target price on Ormat Technologies from $78.00 to $86.00 and gave the stock a "buy" rating in a research note on Tuesday, March 25th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $84.71.

Insider Activity

In other Ormat Technologies news, Director David Granot sold 950 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $73.10, for a total transaction of $69,445.00. Following the transaction, the director owned 2,713 shares of the company's stock, valued at $198,320.30. The trade was a 25.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Byron G. Wong sold 460 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $84.04, for a total value of $38,658.40. Following the transaction, the director directly owned 8,659 shares in the company, valued at $727,702.36. This trade represents a 5.04% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,329 shares of company stock valued at $423,443. 0.56% of the stock is owned by company insiders.

Ormat Technologies Trading Down 0.9%

Shares of Ormat Technologies stock traded down $0.75 during mid-day trading on Tuesday, hitting $86.79. 407,902 shares of the stock were exchanged, compared to its average volume of 487,994. The company has a 50-day simple moving average of $78.86 and a 200 day simple moving average of $72.15. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 0.77. Ormat Technologies, Inc. has a twelve month low of $61.58 and a twelve month high of $88.60. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 42.13, a price-to-earnings-growth ratio of 4.23 and a beta of 0.64.

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 the consensus estimate of $0.58 by $0.10. Ormat Technologies had a net margin of 14.18% and a return on equity of 5.35%. The business had revenue of $229.76 million during the quarter, compared to analyst estimates of $228.33 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The company's quarterly revenue was up 2.5% on a year-over-year basis. Research analysts forecast that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $0.48 annualized dividend and a yield of 0.55%. Ormat Technologies's dividend payout ratio (DPR) is currently 23.30%.

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.