Catalyst Funds Management Pty Ltd Has $271,000 Position in Ormat Technologies, Inc. (NYSE:ORA)

Catalyst Funds Management Pty Ltd grew its stake in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 900.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,000 shares of the energy company's stock after acquiring an additional 3,600 shares during the period. Catalyst Funds Management Pty Ltd's holdings in Ormat Technologies were worth $271,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ORA. Versant Capital Management Inc lifted its stake 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 last quarter. AlphaQuest LLC lifted its position in Ormat Technologies by 4,691.7% during the 4th quarter. AlphaQuest LLC now owns 575 shares of the energy company's stock worth $39,000 after acquiring an additional 563 shares during the last quarter. Mendota Financial Group LLC acquired a new position in Ormat Technologies during the 4th quarter worth $98,000. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Ormat Technologies during the 4th quarter worth $182,000. Finally, Raymond James Financial Inc. acquired a new position in Ormat Technologies during the 4th quarter worth $204,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director David Granot sold 1,666 shares of the company'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 transaction of $114,954.00. Following the transaction, the director now directly owns 1,910 shares in the company, valued at approximately $131,790. This represents a 46.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company's stock.

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Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Robert W. Baird assumed coverage on shares of Ormat Technologies in a research report on Thursday, March 13th. They set a "neutral" rating and a $81.00 price objective for the company. Jefferies Financial Group raised shares of Ormat Technologies from a "hold" rating to a "buy" rating and upped their price objective for the company from $73.00 to $78.00 in a research report on Thursday, February 20th. 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 for the company. Baird R W raised shares of Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, February 28th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Ormat Technologies presently has an average rating of "Hold" and a consensus target price of $82.67.

Ormat Technologies Price Performance

Ormat Technologies stock traded up $0.33 during trading hours on Thursday, hitting $72.09. 388,600 shares of the stock were exchanged, compared to its average volume of 468,028. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. The stock has a market capitalization of $4.36 billion, a P/E ratio of 36.78, a P/E/G ratio of 3.18 and a beta of 0.51. Ormat Technologies, Inc. has a 12 month low of $59.41 and a 12 month high of $84.30. The business's 50-day moving average is $67.04 and its two-hundred day moving average is $72.95.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 0.67%. Ormat Technologies's dividend payout ratio is 23.53%.

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.