Guinness Asset Management LTD Sells 33,287 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Guinness Asset Management LTD trimmed its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 8.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 360,569 shares of the energy company’s stock after selling 33,287 shares during the quarter. Guinness Asset Management LTD owned about 0.60% of Ormat Technologies worth $27,744,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Ormat Technologies by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 5,388,571 shares of the energy company’s stock worth $356,670,000 after buying an additional 63,943 shares during the period. Dimensional Fund Advisors LP boosted its stake in Ormat Technologies by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company’s stock valued at $104,030,000 after purchasing an additional 86,291 shares during the period. Van Berkom & Associates Inc. boosted its stake in Ormat Technologies by 2.0% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,322,936 shares of the energy company’s stock valued at $94,855,000 after purchasing an additional 25,799 shares during the period. Wellington Management Group LLP grew its holdings in Ormat Technologies by 3.5% in the 4th quarter. Wellington Management Group LLP now owns 1,041,169 shares of the energy company’s stock valued at $78,910,000 after buying an additional 35,665 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Ormat Technologies by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 560,029 shares of the energy company’s stock worth $40,154,000 after buying an additional 15,004 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ORA shares. Oppenheimer upped their price target on shares of Ormat Technologies from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Roth Mkm restated a “buy” rating and set a $80.00 target price on shares of Ormat Technologies in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Ormat Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $81.67.

Insider Buying and Selling at Ormat Technologies

In other news, Director Dafna Sharir sold 433 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total value of $32,436.03. Following the completion of the transaction, the director now directly owns 3,561 shares in the company, valued at approximately $266,754.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Byron G. Wong sold 1,266 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the completion of the transaction, the director now owns 6,906 shares of the company’s stock, valued at approximately $517,811.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dafna Sharir sold 433 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total transaction of $32,436.03. Following the completion of the sale, the director now directly owns 3,561 shares in the company, valued at approximately $266,754.51. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Ormat Technologies Price Performance

Shares of NYSE:ORA traded up $0.94 during midday trading on Friday, hitting $76.00. The stock had a trading volume of 276,410 shares, compared to its average volume of 437,887. The company’s 50-day moving average price is $74.43 and its 200-day moving average price is $71.94. Ormat Technologies, Inc. has a fifty-two week low of $58.73 and a fifty-two week high of $78.51. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $4.59 billion, a P/E ratio of 34.70, a price-to-earnings-growth ratio of 3.92 and a beta of 0.53.

Ormat Technologies (NYSE:ORA) last released its earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. Ormat Technologies had a return on equity of 5.40% and a net margin of 14.89%. The firm had revenue of $212.96 million during the quarter, compared to analysts’ expectations of $214.07 million. During the same period in the prior year, the company earned $0.40 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, equities research analysts predict that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Tuesday, August 20th. Ormat Technologies’s dividend payout ratio is 21.92%.

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.