Ormat Technologies, Inc. (NYSE:ORA) Stock Holdings Decreased by Impax Asset Management Group plc

Impax Asset Management Group plc reduced its stake in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,223,617 shares of the energy company's stock after selling 191,862 shares during the quarter. Impax Asset Management Group plc owned approximately 3.67% of Ormat Technologies worth $156,216,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Ormat Technologies by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company's stock worth $409,305,000 after purchasing an additional 274,540 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Ormat Technologies by 6.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,586,479 shares of the energy company's stock worth $107,440,000 after purchasing an additional 93,418 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Ormat Technologies by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 1,373,426 shares of the energy company's stock worth $93,029,000 after purchasing an additional 72,135 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Ormat Technologies by 273,109.4% during 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 during the period. Finally, Norges Bank acquired a new stake in shares of Ormat Technologies during the fourth quarter worth approximately $62,851,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Price Performance

NYSE ORA opened at $87.71 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $5.32 billion, a PE ratio of 42.58, a price-to-earnings-growth ratio of 4.24 and a beta of 0.64. The company has a 50 day moving average price of $77.37 and a two-hundred day moving average price of $71.45. Ormat Technologies, Inc. has a 12-month low of $61.58 and a 12-month high of $87.85.

Ormat Technologies (NYSE:ORA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $228.33 million. During the same period in the previous year, the company earned $0.64 earnings per share. Ormat Technologies's revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities analysts predict that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

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

Insiders Place Their Bets

In other news, Director Stanley Stern sold 547 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $85.54, for a total value of $46,790.38. Following the completion of the sale, the director directly owned 6,137 shares in the company, valued at approximately $524,958.98. The trade was a 8.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dafna Sharir sold 1,601 shares of the business's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $85.63, for a total transaction of $137,093.63. Following the completion of the sale, the director owned 3,238 shares of the company's stock, valued at $277,269.94. The trade was a 33.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,329 shares of company stock valued at $423,443 in the last three months. Company insiders own 0.56% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Robert W. Baird assumed coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They set a "neutral" rating and a $81.00 price target for the company. Barclays upgraded shares of Ormat Technologies from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $80.00 to $86.00 in a report on Friday, June 6th. Jefferies Financial Group lifted their target price 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 upgraded shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research note on Monday, April 7th. Finally, Baird R W upgraded shares of Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $84.14.

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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