Ormat Technologies, Inc. (NYSE:ORA) Shares Sold by Reynders McVeigh Capital Management LLC

Reynders McVeigh Capital Management LLC cut its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 1.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,974 shares of the energy company’s stock after selling 221 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Ormat Technologies were worth $998,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of Ormat Technologies by 180.3% in the third quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock valued at $26,000 after purchasing an additional 229 shares in the last quarter. Harrington Investments INC grew its holdings in shares of Ormat Technologies by 3.0% in the second quarter. Harrington Investments INC now owns 7,950 shares of the energy company’s stock valued at $570,000 after purchasing an additional 230 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Ormat Technologies by 1.9% in the second quarter. Arizona State Retirement System now owns 15,214 shares of the energy company’s stock valued at $1,091,000 after purchasing an additional 286 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Ormat Technologies by 107.7% in the third quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock valued at $47,000 after purchasing an additional 320 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Ormat Technologies by 44.0% in the third quarter. GAMMA Investing LLC now owns 1,051 shares of the energy company’s stock valued at $81,000 after purchasing an additional 321 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Stock Down 1.0 %

ORA stock opened at $78.75 on Thursday. The company has a fifty day moving average price of $79.13 and a 200 day moving average price of $75.70. Ormat Technologies, Inc. has a 12 month low of $59.41 and a 12 month high of $84.30. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 40.18, a price-to-earnings-growth ratio of 4.12 and a beta of 0.53. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87.

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

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $0.48 annualized dividend and a yield of 0.61%. Ormat Technologies’s dividend payout ratio is currently 24.49%.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director David Granot sold 1,256 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $82.00, for a total value of $102,992.00. Following the transaction, the director now directly owns 3,576 shares of the company’s stock, valued at approximately $293,232. The trade was a 25.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Byron G. Wong sold 1,266 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the completion of the transaction, the director now directly owns 6,906 shares in the company, valued at $517,811.88. This represents a 15.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ORA has been the subject of a number of research reports. Oppenheimer lifted their price objective on shares of Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Roth Mkm reiterated a “buy” rating and issued a $92.00 price target (up previously from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ormat Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.50.

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.