Meeder Asset Management Inc. Has $589,000 Stock Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Meeder Asset Management Inc. reduced its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 72.7% in the 3rd quarter, Holdings Channel reports. 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 recently bought and sold shares of ORA. Vanguard Group Inc. lifted its position in shares of Ormat Technologies by 1.2% in the first quarter. Vanguard Group Inc. now owns 5,388,571 shares of the energy company’s stock worth $356,670,000 after purchasing an additional 63,943 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Ormat Technologies by 6.3% in the 2nd 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 in the last quarter. Van Berkom & Associates Inc. boosted its stake in shares of Ormat Technologies by 2.0% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,322,936 shares of the energy company’s stock valued at $94,855,000 after buying an additional 25,799 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Ormat Technologies by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 560,029 shares of the energy company’s stock valued at $40,154,000 after buying an additional 15,004 shares during the period. Finally, Y.D. More Investments Ltd grew its holdings 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 valued at $34,943,000 after acquiring an additional 449,209 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ormat Technologies

In related news, Director Dafna Sharir sold 433 shares of the firm’s 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 transaction, the director now directly owns 3,561 shares in the company, valued at approximately $266,754.51. This trade represents a 10.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Byron G. Wong sold 1,266 shares of Ormat Technologies 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 completion of the transaction, the director now owns 6,906 shares in the company, valued at $517,811.88. This trade represents a 15.49 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ORA shares. Oppenheimer increased their price objective on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Roth Mkm reaffirmed a “buy” rating and set a $92.00 price target (up from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.50.

Ormat Technologies Stock Down 0.1 %

ORA stock opened at $79.36 on Wednesday. The firm has a market cap of $4.80 billion, a PE ratio of 40.49, a PEG ratio of 4.09 and a beta of 0.53. Ormat Technologies, Inc. has a 1 year low of $59.41 and a 1 year high of $84.30. The company has a fifty day simple moving average of $77.93 and a 200 day simple moving average of $74.95. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

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

Ormat Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.60%. Ormat Technologies’s payout ratio is currently 24.49%.

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, 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.