Versant Capital Management Inc Has $27,000 Position in Ormat Technologies, Inc. (NYSE:ORA)

Versant Capital Management Inc boosted its position in Ormat Technologies, Inc. (NYSE:ORA) by 132.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 402 shares of the energy company’s stock after acquiring an additional 229 shares during the quarter. Versant Capital Management Inc’s holdings in Ormat Technologies were worth $27,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ORA. Blue Trust Inc. raised its holdings in shares of Ormat Technologies by 180.3% during the 3rd quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock worth $26,000 after buying an additional 229 shares in the last quarter. Arizona State Retirement System raised its stake in Ormat Technologies by 1.9% during the second quarter. Arizona State Retirement System now owns 15,214 shares of the energy company’s stock worth $1,091,000 after acquiring an additional 286 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Ormat Technologies by 107.7% in the third quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock worth $47,000 after acquiring an additional 320 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Ormat Technologies by 44.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,051 shares of the energy company’s stock valued at $81,000 after purchasing an additional 321 shares in the last quarter. Finally, Inspire Investing LLC grew its holdings in shares of Ormat Technologies by 8.5% during the 3rd quarter. Inspire Investing LLC now owns 5,328 shares of the energy company’s stock valued at $410,000 after purchasing an additional 419 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ormat Technologies

In related news, Director David Granot sold 1,256 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $82.00, for a total transaction of $102,992.00. Following the transaction, the director now directly owns 3,576 shares of the company’s stock, valued at $293,232. This represents a 25.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Corp Orix sold 3,700,000 shares of Ormat Technologies stock in a transaction on Friday, December 13th. The shares were sold at an average price of $75.38, for a total transaction of $278,906,000.00. Following the completion of the sale, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Piper Sandler began coverage on shares of Ormat Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 target price on the stock. Roth Mkm reissued a “buy” rating and set a $92.00 price objective (up previously from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Finally, Oppenheimer increased their target price on Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Ormat Technologies currently has an average rating of “Hold” and an average target price of $83.57.

Ormat Technologies Stock Up 1.5 %

Shares of ORA opened at $69.84 on Wednesday. The company has a market capitalization of $4.22 billion, a PE ratio of 35.63, a PEG ratio of 3.75 and a beta of 0.57. The stock’s 50-day moving average price is $76.25 and its two-hundred day moving average price is $75.32. 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, Inc. has a 12 month low of $59.41 and a 12 month high of $84.30.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Wednesday, November 6th. The energy company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.31 by $0.05. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The business had revenue of $211.80 million for the quarter, compared to analysts’ expectations of $215.53 million. During the same period in the prior year, the business posted $0.47 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. On average, analysts anticipate that Ormat Technologies, Inc. will post 1.93 EPS for the current year.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th were issued a $0.12 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $0.48 annualized dividend and a yield of 0.69%. Ormat Technologies’s payout ratio is 24.49%.

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.