Ormat Technologies, Inc. (NYSE:ORA) Stock Position Raised by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. increased its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,549 shares of the energy company’s stock after acquiring an additional 1,121 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Ormat Technologies were worth $1,188,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc raised its position 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 worth $27,000 after purchasing an additional 229 shares during the period. AlphaQuest LLC increased its position in Ormat Technologies by 4,691.7% in the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock worth $39,000 after buying an additional 563 shares during the period. Headlands Technologies LLC acquired a new stake in Ormat Technologies in the fourth quarter worth $66,000. Mendota Financial Group LLC bought a new stake in Ormat Technologies in the fourth quarter valued at $98,000. Finally, Sterling Capital Management LLC boosted its holdings in shares of Ormat Technologies by 897.8% during the fourth quarter. Sterling Capital Management LLC now owns 1,856 shares of the energy company’s stock valued at $126,000 after acquiring an additional 1,670 shares during the period. Institutional investors own 95.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ORA shares. 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 price objective on the stock. Jefferies Financial Group lifted their price target on Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, March 25th. StockNews.com upgraded Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Monday, April 7th. JPMorgan Chase & Co. raised their target price on Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Finally, Baird R W upgraded Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Ormat Technologies currently has a consensus rating of “Hold” and a consensus price target of $83.56.

Insider Activity

In other news, Director David Granot sold 1,666 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total transaction of $114,954.00. Following the completion of the sale, the director now directly owns 1,910 shares of the company’s stock, valued at $131,790. This trade represents a 46.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jessica Woelfel sold 409 shares of the business’s stock in a transaction 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. In the last quarter, insiders sold 2,242 shares of company stock worth $156,427. Corporate insiders own 1.00% of the company’s stock.

Ormat Technologies Trading Down 1.1 %

Shares of Ormat Technologies stock opened at $70.32 on Thursday. The business has a fifty day simple moving average of $69.12 and a 200-day simple moving average of $72.25. Ormat Technologies, Inc. has a fifty-two week low of $59.57 and a fifty-two week high of $84.30. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of 35.88, a price-to-earnings-growth ratio of 3.18 and a beta of 0.52. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Wednesday, March 12th. Ormat Technologies’s payout ratio is 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.