Van Berkom & Associates Inc. Has $84.40 Million Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

Van Berkom & Associates Inc. reduced its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,246,307 shares of the energy company’s stock after selling 94,115 shares during the quarter. Ormat Technologies comprises 2.5% of Van Berkom & Associates Inc.’s holdings, making the stock its 17th largest holding. Van Berkom & Associates Inc. owned 2.06% of Ormat Technologies worth $84,400,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its position in shares of Ormat Technologies by 2.0% during the 4th quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company’s stock worth $544,000 after purchasing an additional 160 shares in the last quarter. Blue Trust Inc. raised its stake in Ormat Technologies by 180.3% during the 3rd quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock worth $26,000 after buying an additional 229 shares during the period. Versant Capital Management Inc boosted its holdings in 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 acquiring an additional 229 shares in the last quarter. Caprock Group LLC grew its stake in Ormat Technologies by 4.0% in the fourth quarter. Caprock Group LLC now owns 6,080 shares of the energy company’s stock valued at $412,000 after acquiring an additional 235 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in shares of Ormat Technologies by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 6,221 shares of the energy company’s stock valued at $478,000 after acquiring an additional 420 shares in the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ORA shares. Roth Mkm reiterated a “buy” rating and issued a $92.00 target price (up from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Jefferies Financial Group raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and raised their price objective for the company from $73.00 to $78.00 in a research note on Thursday. Oppenheimer lifted their price objective on shares of Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Piper Sandler assumed coverage on shares of Ormat Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 target price on the stock. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ormat Technologies has an average rating of “Moderate Buy” and a consensus target price of $82.88.

Ormat Technologies Price Performance

Ormat Technologies stock opened at $69.43 on Friday. The stock has a market cap of $4.20 billion, a P/E ratio of 35.42, a P/E/G ratio of 3.09 and a beta of 0.57. 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 company’s 50 day moving average price is $66.60 and its two-hundred day moving average price is $73.36. Ormat Technologies, Inc. has a 52 week low of $59.41 and a 52 week high of $84.30.

Insider Buying and Selling

In other news, Director David Granot sold 1,256 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $82.00, for a total transaction of $102,992.00. Following the completion of the sale, the director now owns 3,576 shares in the company, valued at $293,232. This trade represents a 25.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Corp Orix sold 3,700,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $75.38, for a total value of $278,906,000.00. Following the completion of the transaction, the insider now owns 2,976,077 shares in the company, valued at approximately $224,336,684.26. The trade was a 55.42 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

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.