Ormat Technologies, Inc. (NYSE:ORA) Position Lessened by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. decreased its stake in Ormat Technologies, Inc. (NYSE:ORA) by 12.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,500 shares of the energy company’s stock after selling 5,500 shares during the period. Nicola Wealth Management LTD.’s holdings in Ormat Technologies were worth $2,607,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Versant Capital Management Inc raised its stake in Ormat Technologies by 132.4% during the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock valued at $27,000 after acquiring an additional 229 shares in the last quarter. Mendota Financial Group LLC acquired a new position in shares of Ormat Technologies during the fourth quarter valued at $98,000. Perigon Wealth Management LLC increased its holdings in shares of Ormat Technologies by 16.4% during the fourth quarter. Perigon Wealth Management LLC now owns 3,162 shares of the energy company’s stock valued at $214,000 after purchasing an additional 446 shares during the period. Empowered Funds LLC acquired a new position in shares of Ormat Technologies during the fourth quarter valued at $265,000. Finally, Inspire Investing LLC increased its holdings in shares of Ormat Technologies by 11.0% during the fourth quarter. Inspire Investing LLC now owns 5,914 shares of the energy company’s stock valued at $400,000 after purchasing an additional 586 shares during the period. Institutional investors own 95.49% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ORA. Roth Mkm reissued a “buy” rating and set a $92.00 price target (up from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Oppenheimer raised their price target on Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. lifted their price target on Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday. Piper Sandler assumed coverage on Ormat Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price objective for the company. Finally, Jefferies Financial Group upgraded Ormat Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $73.00 to $78.00 in a report on Thursday, February 20th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.88.

Ormat Technologies Price Performance

Shares of NYSE:ORA opened at $68.64 on Tuesday. The company has a market capitalization of $4.15 billion, a PE ratio of 35.02, a price-to-earnings-growth ratio of 3.18 and a beta of 0.57. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. The stock has a fifty day moving average of $66.49 and a 200-day moving average of $73.20. Ormat Technologies, Inc. has a one year low of $59.41 and a one year high of $84.30.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Wednesday, March 12th. Ormat Technologies’s dividend payout ratio is presently 23.53%.

Insider Transactions at Ormat Technologies

In other news, major shareholder Corp Orix sold 3,700,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $75.38, for a total transaction of $278,906,000.00. Following the completion of the sale, the insider now directly owns 2,976,077 shares of the company’s stock, valued at $224,336,684.26. This trade represents a 55.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.00% of the company’s stock.

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.