Dynamic Technology Lab Private Ltd cut its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 49.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,267 shares of the energy company’s stock after selling 5,256 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Ormat Technologies were worth $322,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. DekaBank Deutsche Girozentrale raised its position in shares of Ormat Technologies by 38.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 10,100 shares of the energy company’s stock worth $571,000 after acquiring an additional 2,800 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Ormat Technologies in the 3rd quarter worth about $1,080,000. Advisor Group Inc. raised its position in shares of Ormat Technologies by 39.1% in the 3rd quarter. Advisor Group Inc. now owns 3,201 shares of the energy company’s stock worth $196,000 after acquiring an additional 899 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Ormat Technologies by 13.8% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 94,238 shares of the energy company’s stock worth $5,753,000 after acquiring an additional 11,430 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of Ormat Technologies by 126.9% in the 3rd quarter. Sei Investments Co. now owns 5,142 shares of the energy company’s stock worth $314,000 after acquiring an additional 2,876 shares in the last quarter. 46.46% of the stock is owned by hedge funds and other institutional investors.

Shares of Ormat Technologies, Inc. (NYSE ORA) traded down $1.05 during trading on Monday, reaching $64.50. The company had a trading volume of 211,000 shares, compared to its average volume of 180,315. Ormat Technologies, Inc. has a twelve month low of $46.96 and a twelve month high of $66.46. The company has a market cap of $3,263.51, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 2.17 and a beta of 1.23. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.72 and a quick ratio of 1.62.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Tuesday, November 7th. The energy company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.06). Ormat Technologies had a net margin of 16.99% and a return on equity of 9.41%. The firm had revenue of $157.20 million during the quarter, compared to the consensus estimate of $159.02 million. During the same period in the previous year, the firm earned $0.56 earnings per share. The business’s quarterly revenue was down 14.8% on a year-over-year basis. sell-side analysts predict that Ormat Technologies, Inc. will post 2.21 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Monday, November 20th. Ormat Technologies’s dividend payout ratio is currently 13.73%.

ORA has been the subject of several research analyst reports. Zacks Investment Research raised Ormat Technologies from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Tuesday, August 8th. TheStreet lowered Ormat Technologies from a “b” rating to a “c+” rating in a research report on Monday, August 14th. Cowen set a $67.00 target price on Ormat Technologies and gave the company a “buy” rating in a research report on Friday, August 18th. Oppenheimer reaffirmed a “buy” rating and issued a $70.00 target price (up from $65.00) on shares of Ormat Technologies in a research report on Wednesday, September 27th. Finally, Roth Capital set a $70.00 target price on Ormat Technologies and gave the company a “buy” rating in a research report on Monday, November 13th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $66.88.

In other Ormat Technologies news, EVP Bob Sullivan sold 9,890 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $62.89, for a total transaction of $621,982.10. Following the completion of the sale, the executive vice president now directly owns 9,890 shares of the company’s stock, valued at approximately $621,982.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Granot sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $57.66, for a total value of $144,150.00. Following the sale, the director now directly owns 2,500 shares of the company’s stock, valued at $144,150. The disclosure for this sale can be found here. Insiders have sold a total of 84,359 shares of company stock valued at $5,013,332 over the last three months. Corporate insiders own 14.74% of the company’s stock.

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Ormat Technologies Profile

Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.

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

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