Voya Investment Management LLC Trims Holdings in Ormat Technologies, Inc. $ORA

Voya Investment Management LLC lowered its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 5.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 92,518 shares of the energy company’s stock after selling 5,557 shares during the quarter. Voya Investment Management LLC owned 0.15% of Ormat Technologies worth $8,905,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sequoia Financial Advisors LLC purchased a new stake in Ormat Technologies in the 2nd quarter worth $358,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Ormat Technologies by 100.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,000 shares of the energy company’s stock worth $2,513,000 after purchasing an additional 15,000 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Ormat Technologies during the 3rd quarter valued at approximately $3,738,000. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in Ormat Technologies by 54.6% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 33,845 shares of the energy company’s stock worth $2,835,000 after purchasing an additional 11,952 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Ormat Technologies by 35.5% in the 2nd quarter. Handelsbanken Fonder AB now owns 351,244 shares of the energy company’s stock worth $29,420,000 after purchasing an additional 91,986 shares during the period. 95.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ORA has been the topic of several research analyst reports. TD Cowen boosted their price target on shares of Ormat Technologies from $100.00 to $115.00 and gave the stock a “hold” rating in a research note on Thursday, December 11th. UBS Group boosted their target price on Ormat Technologies from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Ormat Technologies in a research note on Wednesday, October 8th. Roth Capital reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Ormat Technologies in a research note on Wednesday, November 5th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $125.00 price objective on shares of Ormat Technologies in a report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $120.22.

Ormat Technologies Stock Up 1.1%

NYSE ORA opened at $113.40 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.77 and a debt-to-equity ratio of 0.79. Ormat Technologies, Inc. has a 52 week low of $61.58 and a 52 week high of $116.66. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 52.02, a PEG ratio of 5.12 and a beta of 0.74. The company has a fifty day moving average of $110.16 and a two-hundred day moving average of $97.34.

Ormat Technologies (NYSE:ORA) last released its earnings results on Monday, November 3rd. The energy company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. The firm had revenue of $249.73 million during the quarter, compared to analyst estimates of $235.03 million. Ormat Technologies had a net margin of 14.12% and a return on equity of 5.35%. The business’s revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the business earned $0.36 EPS. On average, analysts predict that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.4%. Ormat Technologies’s dividend payout ratio is currently 22.02%.

Insider Transactions at Ormat Technologies

In other news, Director Ravit Barniv sold 1,753 shares of Ormat Technologies stock in a transaction on Friday, November 7th. The stock was sold at an average price of $112.54, for a total transaction of $197,282.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Isaac Angel sold 18,018 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $112.42, for a total transaction of $2,025,583.56. Following the sale, the director directly owned 29,650 shares of the company’s stock, valued at $3,333,253. This represents a 37.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 63,075 shares of company stock valued at $6,708,505. Company insiders own 0.56% of the company’s stock.

Ormat Technologies Company Profile

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.