Todays Report: Today, California Public Employees Retirement System Sold shares of Ormat Technologies Inc. (ORA)

Today, California Public Employees Retirement System Sold shares of Ormat Technologies Inc. (ORA)

California Public Employees Retirement System reduced its stake in Ormat Technologies Inc. (NYSE:ORA) by 0.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 94,500 shares of the company’s stock after selling 800 shares during the period. California Public Employees Retirement System owned 0.19% of Ormat Technologies worth $4,575,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Parametric Portfolio Associates LLC boosted its stake in Ormat Technologies by 2.4% in the second quarter. Parametric Portfolio Associates LLC now owns 12,857 shares of the company’s stock valued at $563,000 after buying an additional 301 shares during the period. Principal Financial Group Inc. boosted its stake in Ormat Technologies by 5.9% in the second quarter. Principal Financial Group Inc. now owns 8,495 shares of the company’s stock valued at $372,000 after buying an additional 476 shares during the period. American International Group Inc. boosted its stake in Ormat Technologies by 2.8% in the second quarter. American International Group Inc. now owns 22,395 shares of the company’s stock valued at $980,000 after buying an additional 610 shares during the period. Teacher Retirement System of Texas boosted its stake in Ormat Technologies by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 5,170 shares of the company’s stock valued at $226,000 after buying an additional 622 shares during the period. Finally, Miller Howard Investments Inc. NY boosted its stake in Ormat Technologies by 2.9% in the second quarter. Miller Howard Investments Inc. NY now owns 30,751 shares of the company’s stock valued at $1,346,000 after buying an additional 859 shares during the period. Institutional investors and hedge funds own 41.18% of the company’s stock.

Shares of Ormat Technologies Inc. (NYSE:ORA) traded up 0.50% on Friday, hitting $48.43. The stock had a trading volume of 52,873 shares. The company has a market cap of $2.40 billion, a P/E ratio of 26.95 and a beta of 1.10. The company has a 50-day moving average of $47.25 and a 200-day moving average of $46.15. Ormat Technologies Inc. has a 52-week low of $32.25 and a 52-week high of $51.19.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.05. Ormat Technologies had a net margin of 13.29% and a return on equity of 9.45%. The firm had revenue of $184 million for the quarter, compared to analyst estimates of $163.66 million. During the same period last year, the business earned $0.46 EPS. Ormat Technologies’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, equities analysts anticipate that Ormat Technologies Inc. will post $1.75 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Monday, November 21st will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $0.28 annualized dividend and a yield of 0.58%. Ormat Technologies’s dividend payout ratio is currently 15.73%.

Several research firms have weighed in on ORA. Zacks Investment Research raised Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. reissued a “hold” rating on shares of Ormat Technologies in a research report on Wednesday, August 3rd. Finally, Oppenheimer Holdings Inc. began coverage on Ormat Technologies in a research report on Thursday, September 8th. They issued an “outperform” rating and a $54.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Ormat Technologies presently has an average rating of “Hold” and a consensus target price of $46.80.

In related news, Director Dan Falk sold 7,500 shares of Ormat Technologies stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $48.90, for a total transaction of $366,750.00. Following the sale, the director now directly owns 7,500 shares in the company, valued at approximately $366,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gillon Beck sold 390,000 shares of Ormat Technologies stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $48.64, for a total transaction of $18,969,600.00. The disclosure for this sale can be found here. Corporate insiders own 22.97% of the company’s stock.

About Ormat Technologies

Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. The Company’s equipment manufacturing operations are located in Israel. The Company conducts its business activities in two business segments: Electricity segment and Product segment.

Related posts

Leave a Comment