Van Berkom & Associates Inc. decreased its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA – Get Rating) by 10.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 754,727 shares of the energy company's stock after selling 89,106 shares during the quarter. Ormat Technologies makes up approximately 2.5% of Van Berkom & Associates Inc.'s portfolio, making the stock its 14th biggest position. Van Berkom & Associates Inc. owned approximately 1.35% of Ormat Technologies worth $59,133,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. Signaturefd LLC grew its holdings in Ormat Technologies by 77.6% during the first quarter. Signaturefd LLC now owns 451 shares of the energy company's stock worth $37,000 after acquiring an additional 197 shares during the period. Prospera Financial Services Inc purchased a new stake in shares of Ormat Technologies in the first quarter valued at $41,000. AlphaMark Advisors LLC purchased a new position in Ormat Technologies during the first quarter worth about $56,000. Point72 Hong Kong Ltd purchased a new position in Ormat Technologies during the first quarter worth about $177,000. Finally, Wetherby Asset Management Inc. purchased a new position in Ormat Technologies during the fourth quarter worth about $201,000. Hedge funds and other institutional investors own 92.42% of the company's stock.
Get Ormat Technologies alerts:Insider Transactions at Ormat Technologies
In related news, EVP Shimon Hatzir sold 4,526 shares of the business's stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $97.20, for a total transaction of $439,927.20. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Shimon Hatzir sold 4,526 shares of the business's stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $97.20, for a total value of $439,927.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David Granot sold 455 shares of the business's stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $93.00, for a total value of $42,315.00. Following the completion of the transaction, the director now directly owns 2,922 shares in the company, valued at $271,746. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,481 shares of company stock worth $1,208,617. Company insiders own 1.30% of the company's stock.
Ormat Technologies Stock Performance
Shares of Ormat Technologies stock opened at $88.35 on Tuesday. The stock has a market cap of $4.94 billion, a PE ratio of 78.19, a price-to-earnings-growth ratio of 6.10 and a beta of 0.50. Ormat Technologies, Inc. has a 12 month low of $60.32 and a 12 month high of $98.47. The company has a quick ratio of 1.57, a current ratio of 1.66 and a debt-to-equity ratio of 0.82. The business has a fifty day simple moving average of $92.30 and a 200-day simple moving average of $83.71.Ormat Technologies Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th were given a $0.12 dividend. The ex-dividend date was Tuesday, August 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.54%. Ormat Technologies's dividend payout ratio is currently 42.48%.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on ORA. Oppenheimer increased their target price on Ormat Technologies from $85.00 to $97.00 and gave the company an "outperform" rating in a research note on Monday, August 8th. StockNews.com raised Ormat Technologies from a "sell" rating to a "hold" rating in a report on Thursday, August 4th. JPMorgan Chase & Co. increased their target price on Ormat Technologies from $90.00 to $97.00 and gave the stock a "neutral" rating in a report on Monday, August 8th. Finally, Cowen raised their price target on Ormat Technologies to $84.00 in a report on Tuesday, August 9th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, Ormat Technologies presently has a consensus rating of "Hold" and an average target price of $88.25.
About Ormat Technologies
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Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guadeloupe, Guatemala, Ethiopia, New Zealand, Honduras, and internationally. It operates through 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.
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