KLP Kapitalforvaltning AS Has $7.99 Million Stake in Ormat Technologies, Inc. $ORA

KLP Kapitalforvaltning AS lowered its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 7.7% in the third quarter, HoldingsChannel.com reports. The firm owned 83,000 shares of the energy company’s stock after selling 6,900 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Ormat Technologies were worth $7,989,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Curio Wealth LLC raised its position in shares of Ormat Technologies by 29,200.0% in the second quarter. Curio Wealth LLC now owns 293 shares of the energy company’s stock valued at $25,000 after buying an additional 292 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Ormat Technologies by 251.0% during the second quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company’s stock worth $44,000 after buying an additional 374 shares in the last quarter. GAMMA Investing LLC increased its stake in Ormat Technologies by 57.4% during the 2nd quarter. GAMMA Investing LLC now owns 886 shares of the energy company’s stock worth $74,000 after acquiring an additional 323 shares during the period. UMB Bank n.a. raised its holdings in Ormat Technologies by 20.3% in the 2nd quarter. UMB Bank n.a. now owns 1,059 shares of the energy company’s stock valued at $89,000 after acquiring an additional 179 shares in the last quarter. Finally, CWM LLC raised its holdings in Ormat Technologies by 17.1% in the 3rd quarter. CWM LLC now owns 1,098 shares of the energy company’s stock valued at $106,000 after acquiring an additional 160 shares in the last quarter. 95.49% of the stock is owned by institutional investors.

Insider Activity at Ormat Technologies

In other news, Director Ravit Barniv sold 1,753 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $112.54, for a total transaction of $197,282.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica Woelfel sold 721 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $115.00, for a total value of $82,915.00. Following the completion of the transaction, the insider owned 3,433 shares of the company’s stock, valued at $394,795. The trade was a 17.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 40,860 shares of company stock worth $4,601,530. Corporate insiders own 0.56% of the company’s stock.

Ormat Technologies Stock Performance

NYSE:ORA opened at $115.44 on Friday. Ormat Technologies, Inc. has a twelve month low of $61.58 and a twelve month high of $119.00. The company has a quick ratio of 0.70, a current ratio of 0.77 and a debt-to-equity ratio of 0.79. The stock’s 50-day simple moving average is $111.91 and its 200 day simple moving average is $100.04. The firm has a market capitalization of $7.02 billion, a PE ratio of 52.96, a price-to-earnings-growth ratio of 4.56 and a beta of 0.71.

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

Ormat Technologies Announces Dividend

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

Analyst Ratings Changes

ORA has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on Ormat Technologies from $99.00 to $111.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Cowen raised shares of Ormat Technologies from a “hold” rating to a “buy” rating in a research report on Friday. Barclays increased their price objective on shares of Ormat Technologies from $89.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Roth Capital restated a “buy” rating and issued a $125.00 target price on shares of Ormat Technologies in a research report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ormat Technologies in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.89.

Ormat Technologies 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.