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

Proficio Capital Partners LLC purchased a new stake in shares of Ormat Technologies, Inc. (NYSE:ORA) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 11,309 shares of the energy company’s stock, valued at approximately $766,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ORA. Versant Capital Management Inc lifted its stake in 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 bought a new position in Ormat Technologies during the fourth quarter valued at approximately $98,000. Perigon Wealth Management LLC grew its holdings in shares of Ormat Technologies by 16.4% during the 4th quarter. Perigon Wealth Management LLC now owns 3,162 shares of the energy company’s stock valued at $214,000 after purchasing an additional 446 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Ormat Technologies in the fourth quarter worth about $265,000. Finally, Cerity Partners LLC increased its stake in Ormat Technologies by 62.5% in the 3rd quarter. Cerity Partners LLC now owns 5,496 shares of the energy company’s stock worth $423,000 after purchasing an additional 2,114 shares during the period. 95.49% of the stock is currently owned by institutional investors.

Ormat Technologies Trading Down 0.5 %

Ormat Technologies stock opened at $71.67 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. The business’s fifty day moving average is $67.23 and its 200 day moving average is $72.93. Ormat Technologies, Inc. has a one year low of $59.41 and a one year high of $84.30. The stock has a market capitalization of $4.34 billion, a PE ratio of 36.57, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Wednesday, March 12th. Ormat Technologies’s payout ratio is currently 23.53%.

Wall Street Analyst Weigh In

ORA has been the topic of a number of analyst reports. Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. Jefferies Financial Group raised Ormat Technologies from a “hold” rating to a “buy” rating and upped their price target for the stock from $73.00 to $78.00 in a research note on Thursday, February 20th. Robert W. Baird initiated coverage on Ormat Technologies in a research report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Finally, Piper Sandler initiated coverage on shares of Ormat Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price target for the company. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $82.67.

Insider Buying and Selling at Ormat Technologies

In related news, Director David Granot sold 1,666 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 1,910 shares of the company’s stock, valued at approximately $131,790. This trade represents a 46.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jessica Woelfel sold 409 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total value of $29,509.35. Following the sale, the insider now directly owns 6,094 shares in the company, valued at $439,682.10. This trade represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Ormat Technologies Company 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.