UBS Group AG trimmed its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 73.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,176 shares of the energy company’s stock after selling 3,320 shares during the quarter. UBS Group AG’s holdings in Ormat Technologies were worth $75,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Duality Advisers LP purchased a new stake in Ormat Technologies in the 2nd quarter valued at about $1,656,000. Gardiner Nancy B boosted its stake in Ormat Technologies by 7.0% in the 2nd quarter. Gardiner Nancy B now owns 3,840 shares of the energy company’s stock worth $244,000 after buying an additional 250 shares during the last quarter. Somerville Kurt F boosted its stake in Ormat Technologies by 4.7% in the 2nd quarter. Somerville Kurt F now owns 19,035 shares of the energy company’s stock worth $1,209,000 after buying an additional 860 shares during the last quarter. Guinness Asset Management LTD boosted its stake in Ormat Technologies by 29.0% in the 2nd quarter. Guinness Asset Management LTD now owns 10,220 shares of the energy company’s stock worth $649,000 after buying an additional 2,300 shares during the last quarter. Finally, Guinness Atkinson Asset Management Inc boosted its stake in Ormat Technologies by 7.0% in the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 4,559 shares of the energy company’s stock worth $289,000 after buying an additional 300 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

A number of analysts have issued reports on the company. JPMorgan Chase & Co. upgraded Ormat Technologies from a “neutral” rating to an “overweight” rating and set a $82.00 price objective on the stock in a report on Thursday, July 9th. Oppenheimer assumed coverage on Ormat Technologies in a report on Tuesday, August 4th. They issued an “outperform” rating on the stock. Finally, TheStreet downgraded Ormat Technologies from a “b-” rating to a “c” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $74.75.

Shares of NYSE:ORA opened at $56.96 on Thursday. The company has a market cap of $2.91 billion, a P/E ratio of 37.97, a PEG ratio of 3.08 and a beta of 0.54. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.18 and a current ratio of 1.28. Ormat Technologies, Inc. has a one year low of $53.44 and a one year high of $87.07. The business’s 50-day simple moving average is $60.27 and its 200 day simple moving average is $64.04.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Tuesday, August 4th. The energy company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.38 by $0.07. The business had revenue of $174.90 million for the quarter, compared to the consensus estimate of $168.63 million. Ormat Technologies had a return on equity of 5.06% and a net margin of 10.59%. The company’s revenue was down 5.0% on a year-over-year basis. During the same period last year, the business posted $0.40 EPS. Analysts predict that Ormat Technologies, Inc. will post 1.73 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were paid a dividend of $0.11 per share. The ex-dividend date was Monday, August 17th. This represents a $0.44 dividend on an annualized basis and a yield of 0.77%. Ormat Technologies’s dividend payout ratio (DPR) is presently 30.14%.

In other news, CFO Assi Ginzburg bought 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was bought at an average price of $61.03 per share, for a total transaction of $1,220,600.00. Following the transaction, the chief financial officer now owns 20,000 shares in the company, valued at $1,220,600. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ofer Benyosef bought 511 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was purchased at an average price of $58.00 per share, with a total value of $29,638.00. Following the transaction, the executive vice president now owns 511 shares in the company, valued at approximately $29,638. The disclosure for this purchase can be found here. 0.80% of the stock is owned by company insiders.

Ormat Technologies Company Profile

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, New Zealand, and internationally. The company operates through three segments: Electricity, Product, and Other. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity.

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

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