Impax Asset Management Group plc Sells 191,862 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Impax Asset Management Group plc decreased its position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,223,617 shares of the energy company's stock after selling 191,862 shares during the period. Impax Asset Management Group plc owned 3.67% of Ormat Technologies worth $156,216,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ORA. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in 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 buying an additional 955,883 shares during the last quarter. Norges Bank bought a new position in Ormat Technologies during the fourth quarter worth about $62,851,000. Vanguard Group Inc. boosted its holdings 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 worth $409,305,000 after buying an additional 274,540 shares during the last quarter. Soros Fund Management LLC bought a new position in Ormat Technologies during the fourth quarter worth about $10,158,000. Finally, Handelsbanken Fonder AB boosted its holdings in Ormat Technologies by 66.3% during the first quarter. Handelsbanken Fonder AB now owns 259,258 shares of the energy company's stock worth $18,348,000 after buying an additional 103,352 shares during the last quarter. Institutional investors own 95.49% of the company's stock.

Analyst Ratings Changes

ORA has been the topic of a number of research analyst reports. Baird R W raised Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. Wall Street Zen raised Ormat Technologies from a "sell" rating to a "hold" rating in a research report on Monday, April 7th. Robert W. Baird assumed coverage on Ormat Technologies in a research report on Thursday, March 13th. They issued a "neutral" rating and a $81.00 target price on the stock. Jefferies Financial Group lifted their target price on Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, March 25th. Finally, Barclays raised Ormat Technologies from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $80.00 to $86.00 in a research report on Friday, June 6th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $84.14.

Ormat Technologies Price Performance

Shares of NYSE:ORA traded down $0.58 during trading on Tuesday, reaching $86.46. 533,107 shares of the company traded hands, compared to its average volume of 486,528. The company's 50 day moving average is $77.90 and its two-hundred day moving average is $71.75. The firm has a market capitalization of $5.24 billion, a PE ratio of 41.97, a PEG ratio of 4.20 and a beta of 0.64. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.77. Ormat Technologies, Inc. has a 52 week low of $61.58 and a 52 week high of $88.30.

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

Ormat Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.56%. The ex-dividend date was Wednesday, May 21st. Ormat Technologies's dividend payout ratio (DPR) is presently 23.30%.

Insiders Place Their Bets

In other news, Director David Granot sold 950 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $73.10, for a total transaction of $69,445.00. Following the sale, the director directly owned 2,713 shares in the company, valued at approximately $198,320.30. The trade was a 25.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dafna Sharir sold 1,601 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $277,269.94. This trade represents a 33.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,329 shares of company stock valued at $423,443 over the last ninety days. 0.56% of the stock is owned by insiders.

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.