Aurora Investment Counsel Purchases New Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Aurora Investment Counsel bought a new stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 29,880 shares of the energy company's stock, valued at approximately $2,023,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its holdings in Ormat Technologies by 5.6% in the fourth quarter. Principal Financial Group Inc. now owns 131,906 shares of the energy company's stock valued at $8,933,000 after acquiring an additional 7,025 shares during the period. Chesapeake Capital Corp IL purchased a new stake in Ormat Technologies during the third quarter worth about $522,000. RWC Asset Management LLP lifted its position in shares of Ormat Technologies by 348.9% during the 4th quarter. RWC Asset Management LLP now owns 165,599 shares of the energy company's stock valued at $11,214,000 after acquiring an additional 128,705 shares during the period. Empowered Funds LLC acquired a new stake in shares of Ormat Technologies during the 4th quarter valued at approximately $265,000. Finally, Handelsbanken Fonder AB raised its holdings in Ormat Technologies by 896.6% during the fourth quarter. Handelsbanken Fonder AB now owns 155,906 shares of the energy company's stock worth $10,558,000 after purchasing an additional 140,262 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ORA shares. JPMorgan Chase & Co. lifted their price target on Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, February 28th. Robert W. Baird started coverage on Ormat Technologies in a research note on Thursday. They set a "neutral" rating and a $81.00 price objective on the stock. Piper Sandler assumed coverage on shares of Ormat Technologies in a research note on Thursday, December 19th. They set a "neutral" rating and a $78.00 price target on the stock. Finally, Jefferies Financial Group upgraded shares of Ormat Technologies from a "hold" rating to a "buy" rating and lifted their price target for the stock from $73.00 to $78.00 in a report on Thursday, February 20th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Ormat Technologies has a consensus rating of "Hold" and a consensus target price of $82.67.

Remove Ads

Insider Buying and Selling

In related news, Director David Granot sold 1,666 shares of the company's stock in a transaction 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 directly owns 1,910 shares of the company's stock, valued at approximately $131,790. This represents a 46.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company's stock.

Ormat Technologies Price Performance

ORA stock opened at $71.53 on Friday. The company has a market cap of $4.33 billion, a PE ratio of 36.50, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The stock has a 50-day moving average price of $66.74 and a two-hundred day moving average price of $73.03. Ormat Technologies, Inc. has a 12-month low of $59.41 and a 12-month high of $84.30.

Ormat Technologies Dividend Announcement

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

Want to see what other hedge funds are holding ORA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ormat Technologies, Inc. (NYSE:ORA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.