Ormat Technologies, Inc. (NYSE:ORA) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets trimmed its position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 25.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,296 shares of the energy company's stock after selling 5,587 shares during the period. BNP Paribas Financial Markets' holdings in Ormat Technologies were worth $1,104,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ORA. Ameriprise Financial Inc. increased its stake in shares of Ormat Technologies by 2.8% in the fourth quarter. Ameriprise Financial Inc. now owns 53,105 shares of the energy company's stock worth $3,596,000 after buying an additional 1,434 shares during the last quarter. Ardsley Advisory Partners LP bought a new position in Ormat Technologies during the 4th quarter valued at $1,016,000. Mercer Global Advisors Inc. ADV boosted its stake in Ormat Technologies by 903.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 49,647 shares of the energy company's stock valued at $3,362,000 after acquiring an additional 44,700 shares during the last quarter. Soros Fund Management LLC bought a new position in Ormat Technologies during the 4th quarter valued at $10,158,000. Finally, Northern Trust Corp boosted its stake in Ormat Technologies by 11.7% during the 4th quarter. Northern Trust Corp now owns 858,674 shares of the energy company's stock valued at $58,149,000 after acquiring an additional 90,100 shares during the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director David Granot sold 1,666 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total value of $114,954.00. Following the sale, the director now directly owns 1,910 shares in the company, valued at $131,790. This trade represents a 46.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dafna Sharir sold 876 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $75.00, for a total value of $65,700.00. Following the completion of the sale, the director now owns 4,438 shares in the company, valued at approximately $332,850. This represents a 16.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,068 shares of company stock valued at $291,572. Insiders own 0.56% of the company's stock.

Ormat Technologies Stock Performance

Shares of NYSE ORA traded up $0.62 during mid-day trading on Friday, hitting $71.57. The company had a trading volume of 306,846 shares, compared to its average volume of 483,976. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 36.51, a PEG ratio of 3.18 and a beta of 0.65. Ormat Technologies, Inc. has a 12 month low of $61.58 and a 12 month high of $84.30. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. The firm's 50 day simple moving average is $71.54 and its two-hundred day simple moving average is $71.36.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.10. The business had revenue of $229.76 million for the quarter, compared to the consensus estimate of $228.33 million. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The business's revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. As a group, equities research analysts forecast that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Wednesday, May 21st. Ormat Technologies's dividend payout ratio (DPR) is 23.30%.

Analyst Upgrades and Downgrades

ORA has been the topic of a number of research analyst reports. Jefferies Financial Group increased their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, March 25th. Wall Street Zen raised Ormat Technologies from a "sell" rating to a "hold" rating in a report on Monday, April 7th. Barclays increased their target price on Ormat Technologies from $75.00 to $80.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. increased their target price on Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, February 28th. Finally, Robert W. Baird assumed coverage on Ormat Technologies in a report on Thursday, March 13th. They set a "neutral" rating and a $81.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $83.29.

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.