BNP Paribas Arbitrage SA Trims Holdings in Ormat Technologies, Inc. (ORA)
BNP Paribas Arbitrage SA cut its stake in Ormat Technologies, Inc. (NYSE:ORA) by 15.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,511 shares of the energy company’s stock after selling 1,914 shares during the period. BNP Paribas Arbitrage SA’s holdings in Ormat Technologies were worth $642,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of ORA. Royal Bank of Canada boosted its holdings in Ormat Technologies by 1.7% in the 2nd quarter. Royal Bank of Canada now owns 2,008 shares of the energy company’s stock valued at $117,000 after purchasing an additional 34 shares during the period. Creative Planning boosted its holdings in Ormat Technologies by 12.0% in the 2nd quarter. Creative Planning now owns 2,099 shares of the energy company’s stock valued at $123,000 after purchasing an additional 225 shares during the period. Sei Investments Co. boosted its holdings in Ormat Technologies by 2.2% in the 2nd quarter. Sei Investments Co. now owns 2,266 shares of the energy company’s stock valued at $133,000 after purchasing an additional 49 shares during the period. Advisor Group Inc. boosted its holdings in Ormat Technologies by 153.2% in the 2nd quarter. Advisor Group Inc. now owns 2,302 shares of the energy company’s stock valued at $135,000 after purchasing an additional 1,393 shares during the period. Finally, Psagot Investment House Ltd. boosted its holdings in Ormat Technologies by 1.6% in the 2nd quarter. Psagot Investment House Ltd. now owns 2,661 shares of the energy company’s stock valued at $156,000 after purchasing an additional 43 shares during the period. 46.46% of the stock is owned by hedge funds and other institutional investors.
ORA has been the subject of a number of research reports. TheStreet raised shares of Ormat Technologies from a “c+” rating to a “b-” rating in a report on Monday, November 13th. Roth Capital set a $70.00 price target on shares of Ormat Technologies and gave the company a “buy” rating in a report on Monday, November 13th. Zacks Investment Research raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Thursday, October 5th. Oppenheimer reaffirmed a “buy” rating and set a $70.00 price objective (up from $65.00) on shares of Ormat Technologies in a report on Wednesday, September 27th. Finally, Cowen set a $67.00 price objective on shares of Ormat Technologies and gave the stock a “buy” rating in a report on Friday, August 18th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $66.88.
Ormat Technologies, Inc. (NYSE:ORA) traded down $0.04 during trading hours on Thursday, hitting $62.94. 101,400 shares of the stock were exchanged, compared to its average volume of 179,586. The company has a market cap of $3,186.61, a P/E ratio of 27.87, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. Ormat Technologies, Inc. has a one year low of $47.87 and a one year high of $66.46. The company has a quick ratio of 1.62, a current ratio of 1.72 and a debt-to-equity ratio of 0.65.
Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Tuesday, November 7th. The energy company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.06). The business had revenue of $157.20 million for the quarter, compared to the consensus estimate of $159.02 million. Ormat Technologies had a return on equity of 9.41% and a net margin of 16.99%. Ormat Technologies’s revenue was down 14.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.56 earnings per share. equities research analysts predict that Ormat Technologies, Inc. will post 2.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Tuesday, November 21st were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Monday, November 20th. Ormat Technologies’s dividend payout ratio (DPR) is currently 13.73%.
In related news, Director David Granot sold 2,500 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $57.66, for a total transaction of $144,150.00. Following the completion of the sale, the director now owns 2,500 shares in the company, valued at approximately $144,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shlomi Argas sold 11,523 shares of the stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $59.50, for a total transaction of $685,618.50. Following the sale, the vice president now owns 1,734 shares of the company’s stock, valued at approximately $103,173. 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 in the last quarter. 14.74% of the stock is currently owned by corporate insiders.
About Ormat Technologies
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.
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