Victory Capital Management Inc. Has $1.28 Million Stake in Ormat Technologies, Inc. (NYSE:ORA)

Victory Capital Management Inc. increased its position in Ormat Technologies, Inc. (NYSE:ORA) by 1.8% in the fourth quarter, HoldingsChannel reports. The firm owned 18,896 shares of the energy company’s stock after acquiring an additional 336 shares during the period. Victory Capital Management Inc.’s holdings in Ormat Technologies were worth $1,280,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its stake in shares of Ormat Technologies by 132.4% during the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock valued at $27,000 after buying an additional 229 shares during the period. Mendota Financial Group LLC acquired a new stake in shares of Ormat Technologies during the 4th quarter valued at $98,000. Perigon Wealth Management LLC boosted its stake 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 buying an additional 446 shares during the period. Empowered Funds LLC acquired a new stake in shares of Ormat Technologies during the 4th quarter valued at $265,000. Finally, Inspire Investing LLC lifted its stake in shares of Ormat Technologies by 11.0% in the 4th quarter. Inspire Investing LLC now owns 5,914 shares of the energy company’s stock valued at $400,000 after purchasing an additional 586 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Insider Buying and Selling at Ormat Technologies

In other news, Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $69.00, for a total value of $114,954.00. Following the completion of the transaction, the director now owns 1,910 shares of the company’s stock, valued at $131,790. This trade represents a 46.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.00% of the company’s stock.

Ormat Technologies Stock Down 0.4 %

Shares of ORA stock opened at $71.80 on Thursday. The firm has a fifty day moving average of $67.04 and a 200-day moving average of $72.95. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. Ormat Technologies, Inc. has a 12-month low of $59.41 and a 12-month high of $84.30. The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of 36.63, a P/E/G ratio of 3.18 and a beta of 0.51.

Ormat Technologies Announces Dividend

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

Analysts Set New Price Targets

ORA has been the subject of several analyst reports. Baird R W raised shares of Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. 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 objective for the company. Jefferies Financial Group raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $73.00 to $78.00 in a research note on Thursday, February 20th. JPMorgan Chase & Co. lifted their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Finally, Robert W. Baird assumed coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Ormat Technologies currently has an average rating of “Hold” and a consensus target price of $82.67.

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.