Nisa Investment Advisors LLC Has $359,000 Stock Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Nisa Investment Advisors LLC decreased its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 8.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,737 shares of the energy company’s stock after selling 418 shares during the period. Nisa Investment Advisors LLC’s holdings in Ormat Technologies were worth $359,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. IFP Advisors Inc boosted its position in shares of Ormat Technologies by 248.0% during the 2nd quarter. IFP Advisors Inc now owns 428 shares of the energy company’s stock worth $34,000 after acquiring an additional 305 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Ormat Technologies by 43.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,008 shares of the energy company’s stock worth $87,000 after acquiring an additional 303 shares in the last quarter. Toroso Investments LLC boosted its position in shares of Ormat Technologies by 15.8% during the 3rd quarter. Toroso Investments LLC now owns 1,065 shares of the energy company’s stock worth $91,000 after acquiring an additional 145 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Ormat Technologies in the second quarter valued at approximately $110,000. Finally, FMR LLC boosted its position in Ormat Technologies by 13.0% in the second quarter. FMR LLC now owns 1,465 shares of the energy company’s stock valued at $115,000 after buying an additional 169 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Insider Buying and Selling

In related news, Director Stanley Stern sold 1,825 shares of Ormat Technologies stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $66.95, for a total transaction of $122,183.75. Following the completion of the transaction, the director now owns 4,835 shares of the company’s stock, valued at $323,703.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Oppenheimer cut their target price on shares of Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating on the stock in a research report on Friday, January 19th. TD Cowen cut their target price on shares of Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating on the stock in a research report on Friday, February 23rd. Finally, Barclays cut their target price on shares of Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Monday, February 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ormat Technologies presently has an average rating of “Hold” and an average price target of $81.00.

Ormat Technologies Price Performance

Shares of NYSE:ORA opened at $62.91 on Friday. The firm has a market cap of $3.80 billion, a PE ratio of 30.10, a price-to-earnings-growth ratio of 2.72 and a beta of 0.48. The firm’s fifty day moving average is $65.11 and its 200-day moving average is $67.11. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.20. Ormat Technologies, Inc. has a 52 week low of $58.73 and a 52 week high of $88.64.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The company had revenue of $241.30 million for the quarter, compared to analyst estimates of $239.71 million. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. Ormat Technologies’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.73 earnings per share. Sell-side analysts predict that Ormat Technologies, Inc. will post 2.2 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Tuesday, March 5th. Ormat Technologies’s dividend payout ratio is presently 22.97%.

About Ormat Technologies

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.