Candriam S.C.A. Makes New $6.89 Million Investment in Ormat Technologies, Inc. (NYSE:ORA)

Candriam S.C.A. acquired a new stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 101,747 shares of the energy company's stock, valued at approximately $6,890,000. Candriam S.C.A. owned about 0.17% of Ormat Technologies at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Versant Capital Management Inc increased its position in Ormat Technologies by 132.4% during the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company's stock worth $27,000 after purchasing an additional 229 shares during the last quarter. Mendota Financial Group LLC acquired a new position in Ormat Technologies during the fourth quarter worth approximately $98,000. Raymond James Financial Inc. acquired a new position in Ormat Technologies during the fourth quarter worth approximately $204,000. Perigon Wealth Management LLC increased its position in shares of Ormat Technologies by 16.4% in the fourth quarter. Perigon Wealth Management LLC now owns 3,162 shares of the energy company's stock worth $214,000 after acquiring an additional 446 shares in the last quarter. Finally, Empowered Funds LLC acquired a new stake in shares of Ormat Technologies in the fourth quarter worth $265,000. Institutional investors and hedge funds own 95.49% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ORA. Jefferies Financial Group raised shares of Ormat Technologies from a "hold" rating to a "buy" rating and increased their price objective for the stock from $73.00 to $78.00 in a research report on Thursday, February 20th. JPMorgan Chase & Co. increased their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a research report on Friday, February 28th. Finally, Piper Sandler began coverage on shares of Ormat Technologies in a research report on Thursday, December 19th. They issued a "neutral" rating and a $78.00 price objective for the company. Four 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $82.88.

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Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director David Granot sold 1,666 shares of the 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 transaction, the director now directly owns 1,910 shares in the company, valued at $131,790. This represents a 46.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Corp Orix sold 3,700,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $75.38, for a total transaction of $278,906,000.00. Following the transaction, the insider now owns 2,976,077 shares in the company, valued at $224,336,684.26. This trade represents a 55.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Ormat Technologies Stock Down 2.4 %

Shares of ORA stock traded down $1.78 on Tuesday, hitting $71.15. The stock had a trading volume of 473,452 shares, compared to its average volume of 469,454. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 36.30, a P/E/G ratio of 3.18 and a beta of 0.51. The stock's 50 day moving average is $66.60 and its 200-day moving average is $73.06. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. Ormat Technologies, Inc. has a 52-week low of $59.41 and a 52-week high of $84.30.

Ormat Technologies Announces Dividend

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 paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.67%. Ormat Technologies's dividend payout ratio (DPR) is presently 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.