Harvest Portfolios Group Inc. Sells 1,071 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Harvest Portfolios Group Inc. lessened its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 17.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,217 shares of the energy company’s stock after selling 1,071 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Ormat Technologies were worth $401,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ORA. Blue Trust Inc. lifted its position 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 worth $26,000 after purchasing an additional 229 shares in the last quarter. UMB Bank n.a. lifted its position 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 worth $47,000 after purchasing an additional 320 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of Ormat Technologies in the first quarter worth $50,000. GAMMA Investing LLC lifted its position in shares of Ormat Technologies by 115.3% in the second quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock worth $52,000 after purchasing an additional 391 shares in the last quarter. Finally, DMC Group LLC acquired a new position in Ormat Technologies during the third quarter worth $204,000. Institutional investors own 95.49% of the company’s stock.

Insider Buying and Selling at Ormat Technologies

In other news, Director Byron G. Wong sold 1,266 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were 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 owns 6,906 shares of the company’s stock, valued at approximately $517,811.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Dafna Sharir sold 433 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.91, for a total transaction of $32,436.03. Following the completion of the sale, the director now owns 3,561 shares of the company’s stock, valued at $266,754.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Byron G. Wong sold 1,266 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.98, for a total transaction of $94,924.68. Following the sale, the director now directly owns 6,906 shares of the company’s stock, valued at $517,811.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

Ormat Technologies Price Performance

NYSE:ORA opened at $83.06 on Friday. Ormat Technologies, Inc. has a one year low of $58.73 and a one year high of $83.85. The company has a market cap of $5.02 billion, a P/E ratio of 37.93, a P/E/G ratio of 4.22 and a beta of 0.53. The firm’s fifty day moving average price is $76.79 and its two-hundred day moving average price is $73.95. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.97 and a quick ratio of 0.89.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.37 by $0.03. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The firm had revenue of $212.96 million for the quarter, compared to the consensus estimate of $214.07 million. During the same period in the previous year, the company earned $0.40 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. Equities analysts expect that Ormat Technologies, Inc. will post 1.92 earnings per share for the current year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.58%. Ormat Technologies’s dividend payout ratio is currently 21.92%.

Wall Street Analyst Weigh In

ORA has been the topic of a number of recent analyst reports. Roth Mkm restated a “buy” rating and set a $80.00 target price on shares of Ormat Technologies in a report on Monday, August 12th. Oppenheimer boosted their target price on shares of Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ormat Technologies presently has an average rating of “Moderate Buy” and an average target price of $81.67.

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.