Ormat Technologies, Inc. (NYSE:ORA) Shares Sold by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. lowered its stake in Ormat Technologies, Inc. (NYSE:ORA) by 12.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,500 shares of the energy company’s stock after selling 5,500 shares during the quarter. Nicola Wealth Management LTD. owned about 0.06% of Ormat Technologies worth $2,607,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Global Alpha Capital Management Ltd. grew its stake in shares of Ormat Technologies by 6.1% in the third quarter. Global Alpha Capital Management Ltd. now owns 2,446,624 shares of the energy company’s stock valued at $188,125,000 after buying an additional 140,882 shares in the last quarter. Impax Asset Management Group plc grew its stake in shares of Ormat Technologies by 7.3% in the fourth quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company’s stock valued at $162,586,000 after buying an additional 163,505 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Ormat Technologies by 1.8% in the third quarter. Geode Capital Management LLC now owns 1,301,291 shares of the energy company’s stock valued at $100,140,000 after buying an additional 22,714 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Ormat Technologies by 6.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 618,937 shares of the energy company’s stock valued at $41,914,000 after buying an additional 39,689 shares in the last quarter. Finally, Y.D. More Investments Ltd grew its stake in shares of Ormat Technologies by 13.2% in the fourth quarter. Y.D. More Investments Ltd now owns 524,416 shares of the energy company’s stock valued at $36,030,000 after buying an additional 61,236 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Analyst Upgrades and Downgrades

ORA has been the subject of a number of recent analyst reports. Jefferies Financial Group upgraded Ormat Technologies from a “hold” rating to a “buy” rating and raised their price objective for the company from $73.00 to $78.00 in a research note on Thursday, February 20th. Piper Sandler initiated coverage on Ormat Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $78.00 price objective for the company. Oppenheimer raised their price objective on Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Roth Mkm restated a “buy” rating and set a $92.00 price objective (up previously from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their price objective on Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Ormat Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $82.88.

Insiders Place Their Bets

In related news, major shareholder Corp Orix sold 3,700,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $224,336,684.26. This trade represents a 55.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Ormat Technologies Trading Down 1.7 %

NYSE:ORA opened at $68.64 on Tuesday. 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 business’s 50 day moving average is $66.49 and its two-hundred day moving average is $73.20. Ormat Technologies, Inc. has a 52 week low of $59.41 and a 52 week high of $84.30. The company has a market cap 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 Dividend Announcement

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

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.