Ormat Technologies, Inc. (NYSE:ORA) Shares Bought by Perigon Wealth Management LLC

Perigon Wealth Management LLC raised its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 16.4% during the fourth quarter, HoldingsChannel reports. The firm owned 3,162 shares of the energy company’s stock after buying an additional 446 shares during the period. Perigon Wealth Management LLC’s holdings in Ormat Technologies were worth $214,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Chesapeake Capital Corp IL acquired a new position in Ormat Technologies in the third quarter valued at $522,000. Holocene Advisors LP increased its stake in Ormat Technologies by 28.7% in the third quarter. Holocene Advisors LP now owns 48,121 shares of the energy company’s stock valued at $3,702,000 after purchasing an additional 10,718 shares during the period. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management increased its stake in shares of Ormat Technologies by 57.3% during the fourth quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 223,937 shares of the energy company’s stock worth $15,165,000 after acquiring an additional 81,547 shares during the period. Wesbanco Bank Inc. acquired a new position in shares of Ormat Technologies during the third quarter worth about $1,731,000. Finally, Empower Advisory Group LLC increased its stake in shares of Ormat Technologies by 4.5% during the third quarter. Empower Advisory Group LLC now owns 194,680 shares of the energy company’s stock worth $14,979,000 after acquiring an additional 8,403 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Stock Down 2.7 %

Ormat Technologies stock opened at $62.43 on Tuesday. 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 firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 31.85, a price-to-earnings-growth ratio of 3.00 and a beta of 0.57. Ormat Technologies, Inc. has a fifty-two week low of $59.41 and a fifty-two week high of $84.30. The stock’s fifty day moving average is $70.58 and its two-hundred day moving average is $74.41.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.05. The company had revenue of $211.80 million for the quarter, compared to analyst estimates of $215.53 million. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. Ormat Technologies’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 earnings per share. Analysts predict that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.77%. The ex-dividend date was Wednesday, November 20th. Ormat Technologies’s dividend payout ratio (DPR) is 24.49%.

Insider Buying and Selling at Ormat Technologies

In other news, major shareholder Corp Orix sold 3,700,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $75.38, for a total value of $278,906,000.00. Following the sale, the insider now directly owns 2,976,077 shares in the company, valued at $224,336,684.26. This represents a 55.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Granot sold 1,256 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $82.00, for a total value of $102,992.00. Following the completion of the sale, the director now owns 3,576 shares in the company, valued at $293,232. This represents a 25.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.46% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Ormat Technologies in a research note on Friday, January 10th. They set a “hold” rating and a $73.00 price target on the stock. Roth Mkm reiterated 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. Piper Sandler assumed coverage on shares of Ormat Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $78.00 price target on the stock. Finally, Oppenheimer boosted their price target on shares of Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Ormat Technologies has a consensus rating of “Hold” and an average target price of $82.25.

Ormat Technologies 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.