Gabelli Funds LLC lessened its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 3.9% in the 2nd quarter, Holdings Channel reports. The firm owned 98,000 shares of the energy company’s stock after selling 4,000 shares during the quarter. Gabelli Funds LLC’s holdings in Ormat Technologies were worth $5,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Ormat Technologies by 16.3% in the second quarter. BlackRock Inc. now owns 2,872,315 shares of the energy company’s stock worth $152,778,000 after acquiring an additional 403,269 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Ormat Technologies by 8.4% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,423,780 shares of the energy company’s stock valued at $128,921,000 after buying an additional 186,974 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Ormat Technologies by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,543,463 shares of the energy company’s stock valued at $87,020,000 after buying an additional 59,441 shares in the last quarter. Delek Group Ltd. increased its position in shares of Ormat Technologies by 65.0% in the first quarter. Delek Group Ltd. now owns 1,059,712 shares of the energy company’s stock valued at $59,871,000 after buying an additional 417,648 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Ormat Technologies by 627.9% in the first quarter. Van ECK Associates Corp now owns 386,501 shares of the energy company’s stock valued at $21,791,000 after buying an additional 333,403 shares in the last quarter. Institutional investors and hedge funds own 72.88% of the company’s stock.

Shares of ORA stock opened at $52.72 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.16 and a quick ratio of 1.05. The firm has a market capitalization of $2.61 billion, a PE ratio of 20.54, a PEG ratio of 2.70 and a beta of 1.48. Ormat Technologies, Inc. has a fifty-two week low of $45.79 and a fifty-two week high of $70.68.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Tuesday, August 7th. The energy company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.17). The company had revenue of $178.30 million for the quarter, compared to analyst estimates of $176.06 million. Ormat Technologies had a net margin of 18.88% and a return on equity of 9.60%. sell-side analysts anticipate that Ormat Technologies, Inc. will post 1.74 earnings per share for the current fiscal year.

The business also recently disclosed a dividend, which was paid on Tuesday, August 21st. Investors of record on Tuesday, August 21st were paid a dividend of $0.10 per share. The ex-dividend date was Monday, August 20th. Ormat Technologies’s payout ratio is currently 13.38%.

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut Ormat Technologies from an “overweight” rating to a “neutral” rating and set a $62.00 price target for the company. in a research report on Monday, May 14th. Guggenheim cut Ormat Technologies from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a research report on Wednesday, June 13th. Zacks Investment Research upgraded Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, June 7th. Roth Capital set a $67.00 price target on Ormat Technologies and gave the company a “buy” rating in a research report on Sunday, May 20th. Finally, TheStreet cut Ormat Technologies from a “b-” rating to a “c+” rating in a research report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $65.67.

In related news, VP Erez Klein sold 4,120 shares of the stock in a transaction on Friday, June 22nd. The stock was sold at an average price of $54.50, for a total transaction of $224,540.00. Following the sale, the vice president now owns 4,120 shares of the company’s stock, valued at $224,540. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is owned by company insiders.

Ormat Technologies Company Profile

Ormat Technologies, Inc engages in the geothermal and recovered energy power business worldwide. The company operates through Electricity and Product segments. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. This segment also offers energy storage, demand response, and energy management related services.

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Institutional Ownership by Quarter for Ormat Technologies (NYSE:ORA)

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