Perpetual Ltd Sells 6,246 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Perpetual Ltd lessened its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 49.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,480 shares of the energy company's stock after selling 6,246 shares during the quarter. Perpetual Ltd's holdings in Ormat Technologies were worth $439,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Blue Trust Inc. boosted its position in Ormat Technologies by 180.3% during the third quarter. Blue Trust Inc. now owns 356 shares of the energy company's stock worth $26,000 after purchasing an additional 229 shares during the period. Versant Capital Management Inc grew its position in Ormat Technologies by 132.4% in the fourth 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 during the period. UMB Bank n.a. grew its holdings in shares of Ormat Technologies by 107.7% during the third quarter. UMB Bank n.a. now owns 617 shares of the energy company's stock worth $47,000 after purchasing an additional 320 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Ormat Technologies by 44.0% during the third quarter. GAMMA Investing LLC now owns 1,051 shares of the energy company's stock worth $81,000 after purchasing an additional 321 shares during the last quarter. Finally, Mendota Financial Group LLC bought a new stake in shares of Ormat Technologies during the fourth quarter worth $98,000. Hedge funds and other institutional investors own 95.49% of the company's stock.

Insider Buying and Selling at Ormat Technologies

In other news, Director David Granot sold 1,256 shares of the business's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $82.00, for a total transaction of $102,992.00. Following the completion of the transaction, the director now owns 3,576 shares of the company's stock, valued at approximately $293,232. The trade was a 25.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Corp Orix sold 3,700,000 shares of the business'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 owns 2,976,077 shares in the company, valued at $224,336,684.26. This represents a 55.42 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

ORA has been the topic of several research analyst reports. Oppenheimer increased their target price on Ormat Technologies from $86.00 to $91.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Roth Mkm reiterated a "buy" rating and issued a $92.00 price target (up previously from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Piper Sandler started coverage on Ormat Technologies in a report on Thursday, December 19th. They issued a "neutral" rating and a $78.00 price target on the stock. Finally, Jefferies Financial Group started coverage on Ormat Technologies in a report on Friday, January 10th. They issued a "hold" rating and a $73.00 price target on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Ormat Technologies has an average rating of "Hold" and a consensus target price of $82.25.

Ormat Technologies Stock Performance

NYSE:ORA traded up $1.00 during mid-day trading on Thursday, hitting $65.45. 219,218 shares of the stock were exchanged, compared to its average volume of 558,095. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 33.40, a price-to-earnings-growth ratio of 3.11 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 firm's 50-day simple moving average is $73.13 and its 200 day simple moving average is $74.94. Ormat Technologies, Inc. has a fifty-two week low of $59.41 and a fifty-two week high of $84.30.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $211.80 million during the quarter, compared to analysts' expectations of $215.53 million. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The company's quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.47 EPS. As a group, equities analysts anticipate that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th were issued a $0.12 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $0.48 annualized dividend and a yield of 0.73%. Ormat Technologies's dividend payout ratio is presently 24.49%.

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.