Bailard Inc. Boosts Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Bailard Inc. grew its position in Ormat Technologies, Inc. (NYSE:ORA) by 0.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 19,446 shares of the energy company’s stock after purchasing an additional 169 shares during the period. Bailard Inc.’s holdings in Ormat Technologies were worth $1,317,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Versant Capital Management Inc boosted its position in shares of Ormat Technologies by 132.4% in the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock worth $27,000 after purchasing an additional 229 shares in the last quarter. Mendota Financial Group LLC purchased a new stake in Ormat Technologies in the fourth quarter valued at about $98,000. Perigon Wealth Management LLC raised its stake in Ormat Technologies by 16.4% in the fourth quarter. Perigon Wealth Management LLC now owns 3,162 shares of the energy company’s stock valued at $214,000 after buying an additional 446 shares during the last quarter. Empowered Funds LLC purchased a new stake in Ormat Technologies in the fourth quarter valued at about $265,000. Finally, Inspire Investing LLC raised its stake in Ormat Technologies by 11.0% in the fourth quarter. Inspire Investing LLC now owns 5,914 shares of the energy company’s stock valued at $400,000 after buying an additional 586 shares during the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. increased their price target on Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday. Oppenheimer increased their price target on Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Jefferies Financial Group upgraded Ormat Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $73.00 to $78.00 in a research note on Thursday, February 20th. Roth Mkm reiterated a “buy” rating and issued a $92.00 price target (up from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Finally, Piper Sandler started coverage on Ormat Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price target for the company. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ormat Technologies has an average rating of “Moderate Buy” and an average price target of $82.88.

Insider Buying and Selling

In related news, major shareholder Corp Orix sold 3,700,000 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

Ormat Technologies Stock Down 1.7 %

Shares of ORA stock opened at $68.64 on Tuesday. The stock’s 50-day simple moving average is $66.49 and its 200-day simple moving average is $73.20. 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 $4.15 billion, a PE ratio of 35.02, a P/E/G ratio of 3.18 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.

Ormat Technologies Announces Dividend

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

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.