Swiss National Bank Trims Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Swiss National Bank trimmed its position in Ormat Technologies, Inc. (NYSE:ORA) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,234 shares of the energy company’s stock after selling 600 shares during the quarter. Swiss National Bank owned about 0.18% of Ormat Technologies worth $8,174,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ORA. Blue Trust Inc. increased its holdings in Ormat Technologies by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock worth $26,000 after acquiring an additional 229 shares in the last quarter. UMB Bank n.a. increased its holdings in Ormat Technologies by 107.7% in the 3rd quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock worth $47,000 after acquiring an additional 320 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Ormat Technologies in the 1st quarter worth approximately $50,000. GAMMA Investing LLC increased its holdings in Ormat Technologies by 115.3% in the 2nd quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock worth $52,000 after acquiring an additional 391 shares in the last quarter. Finally, DMC Group LLC purchased a new stake in Ormat Technologies in the 3rd quarter worth approximately $204,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ORA has been the subject of several recent analyst reports. Oppenheimer upped their price target on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Roth Mkm restated a “buy” rating and issued a $92.00 price target (up from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Ormat Technologies has an average rating of “Moderate Buy” and an average target price of $84.50.

Insider Activity

In related news, Director Byron G. Wong sold 1,266 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.98, for a total value of $94,924.68. Following the completion of the sale, the director now directly owns 6,906 shares in the company, valued at $517,811.88. This trade represents a 15.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Ormat Technologies Stock Up 1.6 %

NYSE ORA opened at $82.02 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. The company has a market capitalization of $4.96 billion, a P/E ratio of 41.85, a P/E/G ratio of 4.18 and a beta of 0.53. Ormat Technologies, Inc. has a one year low of $59.41 and a one year high of $84.30. The stock has a 50 day moving average price of $78.26 and a 200-day moving average price of $75.20.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Wednesday, November 6th. The energy company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. The firm had revenue of $211.80 million during the quarter, compared to the consensus estimate of $215.53 million. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 EPS. As a group, equities analysts predict that Ormat Technologies, Inc. will post 1.93 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.59%. Ormat Technologies’s dividend payout ratio is currently 24.49%.

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.