Ormat Technologies, Inc. (NYSE:ORA) Stock Holdings Trimmed by Meeder Asset Management Inc.

Meeder Asset Management Inc. lessened its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 72.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,661 shares of the energy company’s stock after selling 20,416 shares during the period. Meeder Asset Management Inc.’s holdings in Ormat Technologies were worth $589,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Y.D. More Investments Ltd raised its position in shares of Ormat Technologies by 1,011.5% during the 2nd quarter. Y.D. More Investments Ltd now owns 493,619 shares of the energy company’s stock worth $34,943,000 after purchasing an additional 449,209 shares during the period. Swedbank AB acquired a new stake in Ormat Technologies in the first quarter worth $7,907,000. Dimensional Fund Advisors LP increased its position in Ormat Technologies by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company’s stock worth $104,030,000 after buying an additional 86,291 shares during the period. Vanguard Group Inc. lifted its stake in Ormat Technologies by 1.2% in the first quarter. Vanguard Group Inc. now owns 5,388,571 shares of the energy company’s stock valued at $356,670,000 after buying an additional 63,943 shares during the last quarter. Finally, Beck Bode LLC boosted its holdings in shares of Ormat Technologies by 34.1% during the first quarter. Beck Bode LLC now owns 174,882 shares of the energy company’s stock valued at $11,575,000 after acquiring an additional 44,451 shares during the period. 95.49% of the stock is currently owned by institutional investors.

Ormat Technologies Stock Performance

ORA stock opened at $79.36 on Wednesday. The company has a market capitalization of $4.80 billion, a P/E ratio of 40.49, a PEG ratio of 4.09 and a beta of 0.53. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The company has a 50-day simple moving average of $77.93 and a 200 day simple moving average of $74.95. Ormat Technologies, Inc. has a fifty-two week low of $59.41 and a fifty-two week high of $84.30.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The business had revenue of $211.80 million for the quarter, compared to analyst estimates of $215.53 million. During the same quarter last year, the business earned $0.47 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. Sell-side analysts predict that Ormat Technologies, Inc. will post 1.93 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.60%. Ormat Technologies’s dividend payout ratio is currently 24.49%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Oppenheimer lifted their price objective on shares of Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Roth Mkm restated a “buy” rating and issued a $92.00 price target (up previously from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Ormat Technologies has an average rating of “Moderate Buy” and an average target price of $84.50.

Insider Activity at Ormat Technologies

In other news, Director Byron G. Wong sold 1,266 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.98, for a total transaction of $94,924.68. Following the sale, the director now directly owns 6,906 shares of the company’s stock, valued at $517,811.88. The trade was a 15.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dafna Sharir sold 433 shares of the stock in a transaction on Friday, August 23rd. The shares were 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 owns 3,561 shares of the company’s stock, valued at $266,754.51. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.46% of the company’s stock.

Ormat Technologies Profile

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.