Trillium Asset Management LLC Sells 14,946 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Trillium Asset Management LLC lessened its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 4.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 293,539 shares of the energy company’s stock after selling 14,946 shares during the period. Trillium Asset Management LLC’s holdings in Ormat Technologies were worth $19,878,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Versant Capital Management Inc grew its holdings in shares of Ormat Technologies by 132.4% in the fourth 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 last quarter. AlphaQuest LLC grew its stake in Ormat Technologies by 4,691.7% in the 4th quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock worth $39,000 after acquiring an additional 563 shares in the last quarter. Mendota Financial Group LLC purchased a new position in shares of Ormat Technologies during the fourth quarter worth approximately $98,000. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Ormat Technologies in the fourth quarter valued at approximately $182,000. Finally, Raymond James Financial Inc. bought a new position in Ormat Technologies in the fourth quarter worth approximately $204,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Insider Activity at Ormat Technologies

In related news, Director David Granot sold 1,666 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were 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 owns 1,910 shares of the company’s stock, valued at $131,790. This represents a 46.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

Ormat Technologies Trading Down 0.8 %

NYSE:ORA opened at $72.10 on Wednesday. Ormat Technologies, Inc. has a 52 week low of $59.41 and a 52 week high of $84.30. The firm has a 50 day moving average of $66.97 and a 200 day moving average of $72.96. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of 36.79, a PEG ratio of 3.18 and a beta of 0.51.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. Ormat Technologies’s payout ratio is 23.53%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ORA shares. Piper Sandler assumed coverage on Ormat Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 target price for the company. Jefferies Financial Group upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating and increased their target price for the stock from $73.00 to $78.00 in a report on Thursday, February 20th. Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. JPMorgan Chase & Co. upped their price target on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Finally, Robert W. Baird began coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price objective on the stock. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Ormat Technologies has an average rating of “Hold” and a consensus price target of $82.67.

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.