Nicola Wealth Management LTD. Has $2.12 Million Stock Position in Ormat Technologies, Inc. $ORA

Key Points

• Nicola Wealth Management LTD. reduced its stake in Ormat Technologies by 22.1%, selling 8,500 shares, leaving them with 30,000 shares valued at approximately $2.1 million.
• Multiple institutional investors have increased their positions in Ormat Technologies, with significant stakes lifted by firms such as UMB Bank and Signaturefd LLC during the first quarter.
• Analysts have varying ratings for Ormat Technologies, with recent reports reflecting upgrades from UBS and Baird, while overall, the stock maintains a "Moderate Buy" average rating with a target price of around $93.30.

Nicola Wealth Management LTD. lowered its stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 22.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,000 shares of the energy company's stock after selling 8,500 shares during the quarter. Nicola Wealth Management LTD.'s holdings in Ormat Technologies were worth $2,123,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Strs Ohio acquired a new position in shares of Ormat Technologies in the 1st quarter valued at $304,000. Intech Investment Management LLC lifted its stake in shares of Ormat Technologies by 10.5% in the 1st quarter. Intech Investment Management LLC now owns 24,592 shares of the energy company's stock valued at $1,740,000 after purchasing an additional 2,329 shares during the period. Bayforest Capital Ltd lifted its stake in shares of Ormat Technologies by 2,293.3% in the 1st quarter. Bayforest Capital Ltd now owns 6,773 shares of the energy company's stock valued at $479,000 after purchasing an additional 6,490 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Ormat Technologies by 22.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 234,467 shares of the energy company's stock valued at $16,593,000 after purchasing an additional 43,483 shares during the period. Finally, Empowered Funds LLC lifted its stake in shares of Ormat Technologies by 7.3% in the 1st quarter. Empowered Funds LLC now owns 4,201 shares of the energy company's stock valued at $297,000 after purchasing an additional 286 shares during the period. Institutional investors and hedge funds own 95.49% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ORA. Roth Capital reissued a "buy" rating and issued a $98.00 price target (up previously from $88.00) on shares of Ormat Technologies in a research note on Tuesday, August 5th. Cowen restated a "hold" rating on shares of Ormat Technologies in a research report on Friday, August 8th. Robert W. Baird upgraded shares of Ormat Technologies from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $87.00 to $103.00 in a research report on Wednesday, July 30th. UBS Group upped their price objective on shares of Ormat Technologies from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, TD Cowen upped their price objective on shares of Ormat Technologies from $76.00 to $85.00 and gave the company a "hold" rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $93.30.

Ormat Technologies Stock Up 0.3%

ORA stock traded up $0.24 during trading hours on Monday, reaching $91.69. 380,445 shares of the stock were exchanged, compared to its average volume of 511,789. The firm's 50-day moving average is $89.70 and its 200-day moving average is $79.64. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 42.65, a PEG ratio of 4.25 and a beta of 0.69. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.64. Ormat Technologies, Inc. has a 12 month low of $61.58 and a 12 month high of $95.36.

Ormat Technologies (NYSE:ORA - Get Free Report) last released its earnings results on Wednesday, August 6th. The energy company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.11. The firm had revenue of $234.02 million during the quarter, compared to analysts' expectations of $225.26 million. Ormat Technologies had a return on equity of 5.47% and a net margin of 14.49%.The company's revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 EPS. On average, equities research analysts expect that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th were issued a $0.12 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. Ormat Technologies's dividend payout ratio (DPR) is presently 22.33%.

Insider Buying and Selling

In other news, Director Stanley Stern sold 876 shares of the firm's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $91.98, for a total value of $80,574.48. Following the completion of the transaction, the director owned 5,261 shares in the company, valued at $483,906.78. This trade represents a 14.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dafna Sharir sold 1,601 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $85.63, for a total value of $137,093.63. Following the completion of the transaction, the director owned 3,238 shares of the company's stock, valued at $277,269.94. The trade was a 33.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,976 shares of company stock worth $1,105,067 over the last three months. Company insiders own 0.56% of the company's stock.

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.