Mission Wealth Management LP Has $607,000 Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

Mission Wealth Management LP lowered its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 23.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,959 shares of the energy company’s stock after selling 2,719 shares during the period. Mission Wealth Management LP’s holdings in Ormat Technologies were worth $607,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in Ormat Technologies by 132.4% in the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock valued at $27,000 after acquiring an additional 229 shares during the period. Mendota Financial Group LLC acquired a new stake in Ormat Technologies in the fourth quarter valued at approximately $98,000. Perigon Wealth Management LLC grew its stake in Ormat Technologies by 16.4% in the fourth quarter. Perigon Wealth Management LLC now owns 3,162 shares of the energy company’s stock valued at $214,000 after acquiring an additional 446 shares during the period. Empowered Funds LLC acquired a new stake in Ormat Technologies in the fourth quarter valued at approximately $265,000. Finally, Inspire Investing LLC grew its stake in Ormat Technologies by 11.0% in the fourth quarter. Inspire Investing LLC now owns 5,914 shares of the energy company’s stock valued at $400,000 after acquiring an additional 586 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ORA. Piper Sandler began coverage on Ormat Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price objective for the company. 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, February 28th. 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. Jefferies Financial Group upgraded Ormat Technologies from a “hold” rating to a “buy” rating and raised their target price for the company from $73.00 to $78.00 in a report on Thursday, February 20th. Finally, Roth Mkm restated a “buy” rating and issued a $92.00 target price (up previously from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $82.88.

Insiders Place Their Bets

In other news, major shareholder Corp Orix sold 3,700,000 shares of Ormat Technologies stock in a transaction 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 completion of the transaction, the insider now directly owns 2,976,077 shares in the company, valued at approximately $224,336,684.26. The trade was a 55.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction on 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 approximately $131,790. This trade represents a 46.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Ormat Technologies Stock Performance

Shares of Ormat Technologies stock opened at $69.46 on Wednesday. The business’s fifty day simple moving average is $66.48 and its 200 day simple moving average is $73.17. The firm has a market capitalization of $4.20 billion, a P/E ratio of 35.44, a price-to-earnings-growth ratio of 3.18 and a beta of 0.57. Ormat Technologies, Inc. has a 12 month low of $59.41 and a 12 month high of $84.30. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Ormat Technologies Announces Dividend

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 given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Wednesday, March 12th. Ormat Technologies’s dividend payout ratio is currently 23.53%.

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.