Perigon Wealth Management LLC Purchases 278 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Perigon Wealth Management LLC lifted its position in Ormat Technologies, Inc. (NYSE:ORA) by 8.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,440 shares of the energy company’s stock after buying an additional 278 shares during the period. Perigon Wealth Management LLC’s holdings in Ormat Technologies were worth $243,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in Ormat Technologies during the 4th quarter worth approximately $62,851,000. Vanguard Group Inc. increased its position in shares of Ormat Technologies by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company’s stock worth $409,305,000 after acquiring an additional 274,540 shares in the last quarter. Soros Fund Management LLC bought a new stake in shares of Ormat Technologies during the fourth quarter worth $10,158,000. Handelsbanken Fonder AB increased its position in shares of Ormat Technologies by 66.3% during the first quarter. Handelsbanken Fonder AB now owns 259,258 shares of the energy company’s stock worth $18,348,000 after acquiring an additional 103,352 shares in the last quarter. Finally, Candriam S.C.A. bought a new stake in shares of Ormat Technologies during the fourth quarter worth $6,890,000. Institutional investors own 95.49% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ORA. Jefferies Financial Group increased their target price on Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, March 25th. Robert W. Baird started coverage on shares of Ormat Technologies in a research report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 target price for the company. Baird R W upgraded Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. Wall Street Zen upgraded Ormat Technologies from a “sell” rating to a “hold” rating in a report on Monday, April 7th. Finally, Barclays upgraded Ormat Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $80.00 to $86.00 in a report on Friday, June 6th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Ormat Technologies has an average rating of “Hold” and an average price target of $84.14.

Insider Buying and Selling at Ormat Technologies

In other news, Director Stanley Stern sold 547 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $85.54, for a total transaction of $46,790.38. Following the completion of the sale, the director owned 6,137 shares in the company, valued at $524,958.98. The trade was a 8.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michal Marom sold 895 shares of the business’s stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $73.47, for a total value of $65,755.65. Following the sale, the director owned 3,080 shares of the company’s stock, valued at approximately $226,287.60. This represents a 22.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,329 shares of company stock worth $423,443 in the last ninety days. Insiders own 0.56% of the company’s stock.

Ormat Technologies Stock Up 1.2%

Ormat Technologies stock opened at $84.80 on Wednesday. Ormat Technologies, Inc. has a fifty-two week low of $61.58 and a fifty-two week high of $87.20. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.97 and a quick ratio of 0.90. The firm has a market capitalization of $5.14 billion, a PE ratio of 41.17, a P/E/G ratio of 4.01 and a beta of 0.64. The company’s 50-day moving average is $76.52 and its 200-day moving average is $71.14.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.10. Ormat Technologies had a return on equity of 5.35% and a net margin of 14.18%. The business had revenue of $229.76 million during the quarter, compared to analysts’ expectations of $228.33 million. During the same quarter last year, the company posted $0.64 earnings per share. Ormat Technologies’s quarterly revenue was up 2.5% on a year-over-year basis. Sell-side analysts anticipate that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Wednesday, May 21st. Ormat Technologies’s payout ratio is 23.30%.

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.