Van Berkom & Associates Inc. Sells 94,115 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Van Berkom & Associates Inc. reduced its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 7.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,246,307 shares of the energy company’s stock after selling 94,115 shares during the quarter. Ormat Technologies comprises 2.5% of Van Berkom & Associates Inc.’s investment portfolio, making the stock its 17th biggest position. Van Berkom & Associates Inc.’s holdings in Ormat Technologies were worth $84,400,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Blue Trust Inc. grew its holdings in Ormat Technologies by 180.3% during the 3rd quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock valued at $26,000 after buying an additional 229 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Ormat Technologies in the third quarter valued at approximately $1,113,000. State of Alaska Department of Revenue grew its stake in Ormat Technologies by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 6,221 shares of the energy company’s stock valued at $478,000 after acquiring an additional 420 shares in the last quarter. State of New Jersey Common Pension Fund D increased its holdings in Ormat Technologies by 4.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 26,554 shares of the energy company’s stock worth $2,043,000 after acquiring an additional 1,125 shares during the period. Finally, Empower Advisory Group LLC lifted its stake in Ormat Technologies by 4.5% in the 3rd quarter. Empower Advisory Group LLC now owns 194,680 shares of the energy company’s stock worth $14,979,000 after purchasing an additional 8,403 shares in the last quarter. 95.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on ORA. Roth Mkm reiterated a “buy” rating and issued a $92.00 price objective (up previously from $87.00) on shares of Ormat Technologies in a research report on Friday, November 8th. Oppenheimer lifted their price target on Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Jefferies Financial Group upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $73.00 to $78.00 in a research report on Thursday. Finally, Piper Sandler began coverage on shares of Ormat Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $78.00 target price for the company. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.88.

Insiders Place Their Bets

In other news, major shareholder Corp Orix sold 3,700,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 2,976,077 shares of the company’s stock, valued at approximately $224,336,684.26. The trade was a 55.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Granot sold 1,256 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 3,576 shares of the company’s stock, valued at approximately $293,232. This trade represents a 25.99 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Ormat Technologies Stock Performance

NYSE:ORA opened at $69.43 on Friday. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 35.42, a PEG ratio of 3.09 and a beta of 0.57. The business has a 50 day moving average of $66.60 and a 200 day moving average of $73.36. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. Ormat Technologies, Inc. has a 1-year low of $59.41 and a 1-year high of $84.30.

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.