PNC Financial Services Group Inc. Has $99,000 Stock Holdings in Ormat Technologies, Inc. (NYSE:ORA)

PNC Financial Services Group Inc. trimmed its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 18.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,469 shares of the energy company’s stock after selling 337 shares during the period. PNC Financial Services Group Inc.’s holdings in Ormat Technologies were worth $99,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc increased its holdings in shares of Ormat Technologies by 132.4% in the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock valued at $27,000 after purchasing an additional 229 shares during the period. Mendota Financial Group LLC purchased a new position in Ormat Technologies during the fourth quarter valued at approximately $98,000. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Ormat Technologies in the 4th quarter valued at approximately $182,000. Raymond James Financial Inc. acquired a new position in Ormat Technologies in the 4th quarter valued at approximately $204,000. Finally, Perigon Wealth Management LLC lifted its position in Ormat Technologies by 16.4% in the 4th quarter. Perigon Wealth Management LLC now owns 3,162 shares of the energy company’s stock worth $214,000 after buying an additional 446 shares in the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ORA shares. Baird R W raised shares of Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. Robert W. Baird started coverage on Ormat Technologies in a research note on Thursday, March 13th. They set a “neutral” rating and a $81.00 price target for the company. Jefferies Financial Group boosted their price target on Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday. Piper Sandler assumed coverage on shares of Ormat Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $78.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Six 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, Ormat Technologies has a consensus rating of “Hold” and an average target price of $83.56.

Insider Buying and Selling at Ormat Technologies

In related news, insider Jessica Woelfel sold 409 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total transaction of $29,509.35. Following the completion of the transaction, the insider now owns 6,094 shares of the company’s stock, valued at approximately $439,682.10. The trade was a 6.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Granot sold 1,666 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 1,910 shares in the company, valued at $131,790. This trade represents a 46.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,242 shares of company stock worth $156,427 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Ormat Technologies Trading Up 0.1 %

NYSE:ORA opened at $71.24 on Wednesday. The company’s 50 day moving average is $67.42 and its 200-day moving average is $72.90. 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, Inc. has a 12 month low of $59.41 and a 12 month high of $84.30. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of 36.35, a P/E/G 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. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Wednesday, March 12th. Ormat Technologies’s dividend payout ratio is 23.53%.

Ormat Technologies 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.