Victory Capital Management Inc. Sells 436 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Victory Capital Management Inc. decreased its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 3.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 10,823 shares of the energy company’s stock after selling 436 shares during the quarter. Victory Capital Management Inc.’s holdings in Ormat Technologies were worth $753,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new position in shares of Ormat Technologies in the 1st quarter valued at $1,084,000. Barclays PLC increased its stake in shares of Ormat Technologies by 199.2% in the 1st quarter. Barclays PLC now owns 42,766 shares of the energy company’s stock valued at $3,358,000 after purchasing an additional 28,473 shares during the last quarter. Nicola Wealth Management LTD. increased its stake in shares of Ormat Technologies by 50.0% in the 1st quarter. Nicola Wealth Management LTD. now owns 54,000 shares of the energy company’s stock valued at $4,241,000 after purchasing an additional 18,000 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Ormat Technologies by 47.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 241,916 shares of the energy company’s stock valued at $16,820,000 after purchasing an additional 77,309 shares during the last quarter. Finally, Guinness Asset Management LTD increased its stake in shares of Ormat Technologies by 34.5% in the 2nd quarter. Guinness Asset Management LTD now owns 239,320 shares of the energy company’s stock valued at $16,640,000 after purchasing an additional 61,400 shares during the last quarter. Institutional investors own 84.93% of the company’s stock.

Several equities analysts have recently issued reports on ORA shares. TheStreet lowered Ormat Technologies from a “b-” rating to a “c” rating in a research note on Monday, May 24th. JPMorgan Chase & Co. raised their price objective on Ormat Technologies from $83.00 to $89.00 and gave the company an “overweight” rating in a report on Wednesday, July 21st. Finally, Roth Capital cut their price objective on Ormat Technologies from $97.00 to $76.00 and set a “neutral” rating on the stock in a report on Thursday, July 15th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $83.17.

Shares of ORA opened at $71.08 on Wednesday. The company has a market capitalization of $3.98 billion, a PE ratio of 59.23, a PEG ratio of 3.57 and a beta of 0.32. Ormat Technologies, Inc. has a 12 month low of $53.44 and a 12 month high of $128.87. The stock’s 50-day moving average price is $69.38 and its two-hundred day moving average price is $71.95. The company has a current ratio of 2.39, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Wednesday, August 4th. The energy company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The firm had revenue of $146.90 million for the quarter, compared to the consensus estimate of $147.75 million. Ormat Technologies had a return on equity of 3.96% and a net margin of 9.92%. The business’s quarterly revenue was down 16.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 EPS. Equities research analysts predict that Ormat Technologies, Inc. will post 1.48 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Wednesday, August 18th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, August 17th. Ormat Technologies’s payout ratio is presently 29.09%.

About Ormat Technologies

Ormat Technologies, Inc operates as a holding company. The firm engages in the provision of geothermal and recovered energy power business. It operates through the following segments: Electricity, Product and Energy Storage. The Electricity segment focuses in the sale of electricity from the company’s power plants pursuant to PPAs.

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

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