6,440 Shares in Ormat Technologies, Inc. (ORA) Purchased by Virtu Financial LLC
Virtu Financial LLC bought a new position in shares of Ormat Technologies, Inc. (NYSE:ORA) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,440 shares of the energy company’s stock, valued at approximately $788,000.
Other large investors have also modified their holdings of the company. Menora Mivtachim Holdings LTD. purchased a new stake in shares of Ormat Technologies in the third quarter worth approximately $4,350,000. Schroder Investment Management Group lifted its position in shares of Ormat Technologies by 3.4% in the third quarter. Schroder Investment Management Group now owns 90,506 shares of the energy company’s stock worth $4,897,000 after purchasing an additional 2,962 shares in the last quarter. BSW Wealth Partners purchased a new stake in shares of Ormat Technologies in the third quarter worth approximately $348,000. BlackRock Inc. lifted its position in shares of Ormat Technologies by 6.7% in the third quarter. BlackRock Inc. now owns 3,063,630 shares of the energy company’s stock worth $165,773,000 after purchasing an additional 191,315 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Ormat Technologies by 3.5% in the third quarter. Bank of New York Mellon Corp now owns 268,409 shares of the energy company’s stock worth $14,524,000 after purchasing an additional 8,952 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.
In related news, EVP Bob Sullivan sold 20,329 shares of the firm’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $56.94, for a total transaction of $1,157,533.26. Following the transaction, the executive vice president now owns 23,329 shares of the company’s stock, valued at $1,328,353.26. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David Granot sold 759 shares of the stock in a transaction that occurred on Monday, November 26th. The shares were sold at an average price of $54.00, for a total value of $40,986.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,550 shares of company stock worth $1,222,541. Insiders own 0.50% of the company’s stock.
Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Tuesday, November 6th. The energy company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.13). The business had revenue of $166.50 million for the quarter, compared to the consensus estimate of $172.97 million. Ormat Technologies had a net margin of 17.39% and a return on equity of 8.86%. Ormat Technologies’s revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 EPS. Analysts predict that Ormat Technologies, Inc. will post 1.66 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 4th. Investors of record on Tuesday, November 20th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.72%. The ex-dividend date was Monday, November 19th. Ormat Technologies’s payout ratio is presently 13.38%.
A number of analysts have recently issued reports on ORA shares. TheStreet lowered shares of Ormat Technologies from a “b-” rating to a “c+” rating in a research report on Thursday, August 9th. ValuEngine raised shares of Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. JPMorgan Chase & Co. raised shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $64.00 to $60.00 in a research report on Thursday, August 9th. Finally, Zacks Investment Research raised shares of Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $64.80.
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Ormat Technologies Profile
Ormat Technologies, Inc engages in the geothermal and recovered energy power business worldwide. The company operates through Electricity and Product segments. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. This segment also offers energy storage, demand response, and energy management related services.
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