Proficio Capital Partners LLC Invests $766,000 in Ormat Technologies, Inc. (NYSE:ORA)

Proficio Capital Partners LLC bought a new position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,309 shares of the energy company's stock, valued at approximately $766,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Erste Asset Management GmbH bought a new position in Ormat Technologies in the 3rd quarter worth approximately $19,096,000. Impax Asset Management Group plc increased its position in Ormat Technologies by 7.3% during the fourth quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company's stock worth $162,586,000 after acquiring an additional 163,505 shares during the period. Handelsbanken Fonder AB raised its stake in Ormat Technologies by 896.6% during the 4th quarter. Handelsbanken Fonder AB now owns 155,906 shares of the energy company's stock valued at $10,558,000 after purchasing an additional 140,262 shares during the last quarter. RWC Asset Management LLP boosted its holdings in Ormat Technologies by 348.9% in the 4th quarter. RWC Asset Management LLP now owns 165,599 shares of the energy company's stock valued at $11,214,000 after purchasing an additional 128,705 shares during the period. Finally, Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management grew its position in Ormat Technologies by 57.3% in the 4th 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 purchasing an additional 81,547 shares during the last quarter. Institutional investors own 95.49% of the company's stock.

Remove Ads

Ormat Technologies Price Performance

NYSE:ORA traded down $1.44 during trading hours on Wednesday, reaching $69.78. The company had a trading volume of 650,760 shares, compared to its average volume of 472,084. The firm has a market capitalization of $4.22 billion, a PE ratio of 35.60, a PEG ratio of 3.18 and a beta of 0.51. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The stock has a 50-day moving average of $67.42 and a two-hundred day moving average of $72.90. Ormat Technologies, Inc. has a one year low of $59.41 and a one year high of $84.30.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 0.69%. Ormat Technologies's dividend payout ratio is 23.53%.

Analysts Set New Price Targets

A number of brokerages have recently commented on ORA. Baird R W raised shares of Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. Robert W. Baird started coverage on Ormat Technologies in a report on Thursday, March 13th. They issued a "neutral" rating and a $81.00 price target for the company. Jefferies Financial Group lifted their price objective on Ormat Technologies from $78.00 to $86.00 and gave the stock a "buy" rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, February 28th. Finally, Piper Sandler started coverage on Ormat Technologies in a research report on Thursday, December 19th. They issued a "neutral" rating and a $78.00 target price for the company. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $83.56.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, insider Jessica Woelfel sold 409 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total transaction of $29,509.35. Following the sale, the insider now owns 6,094 shares of the company's stock, valued at $439,682.10. This represents a 6.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Granot sold 1,666 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $69.00, for a total transaction of $114,954.00. Following the completion of the sale, the director now owns 1,910 shares of the company's stock, valued at $131,790. The trade was a 46.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,242 shares of company stock valued at $156,427. Corporate insiders own 1.00% of the company's stock.

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.