Bailard Inc. Sells 2,700 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Bailard Inc. trimmed its position in Ormat Technologies, Inc. (NYSE:ORA) by 12.9% during the 4th quarter, HoldingsChannel reports. The firm owned 18,189 shares of the energy company’s stock after selling 2,700 shares during the period. Bailard Inc.’s holdings in Ormat Technologies were worth $1,379,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of ORA. SG Americas Securities LLC raised its position in Ormat Technologies by 622.8% in the third quarter. SG Americas Securities LLC now owns 20,787 shares of the energy company’s stock valued at $1,453,000 after purchasing an additional 17,911 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Ormat Technologies in the third quarter worth $230,000. Ballentine Partners LLC bought a new stake in Ormat Technologies during the third quarter worth about $317,000. Raymond James & Associates grew its stake in Ormat Technologies by 3.0% during the third quarter. Raymond James & Associates now owns 10,923 shares of the energy company’s stock worth $764,000 after buying an additional 317 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ormat Technologies by 6.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,059 shares of the energy company’s stock valued at $1,333,000 after purchasing an additional 1,229 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Stock Down 1.2 %

NYSE ORA traded down $0.79 during trading on Friday, hitting $62.99. The stock had a trading volume of 178,990 shares, compared to its average volume of 473,718. The company’s 50-day moving average price is $65.03 and its two-hundred day moving average price is $67.02. Ormat Technologies, Inc. has a 12 month low of $58.73 and a 12 month high of $88.26. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.20. The company has a market capitalization of $3.80 billion, a PE ratio of 30.50, a P/E/G ratio of 3.04 and a beta of 0.48.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. The company had revenue of $241.30 million during the quarter, compared to analyst estimates of $239.71 million. During the same period in the prior year, the business posted $0.73 earnings per share. Ormat Technologies’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, sell-side analysts forecast that Ormat Technologies, Inc. will post 2.14 EPS for the current year.

Ormat Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Tuesday, March 5th. Ormat Technologies’s payout ratio is 22.97%.

Analyst Ratings Changes

Several equities research analysts have issued reports on ORA shares. TD Cowen dropped their target price on shares of Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating for the company in a research report on Friday, February 23rd. Oppenheimer dropped their target price on shares of Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating for the company in a report on Friday, January 19th. Finally, Barclays cut their price target on shares of Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating for the company in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $81.00.

Insider Activity

In related news, Director Stanley Stern sold 1,825 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $66.95, for a total value of $122,183.75. Following the completion of the sale, the director now owns 4,835 shares of the company’s stock, valued at $323,703.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

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.