Cibc World Markets Corp Makes New Investment in Ormat Technologies, Inc. (NYSE:ORA)

Cibc World Markets Corp acquired a new stake in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,401 shares of the energy company's stock, valued at approximately $366,000.

Other large investors also recently bought and sold shares of the company. Impax Asset Management Group plc lifted its stake in Ormat Technologies by 7.3% during the 4th quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company's stock valued at $162,586,000 after acquiring an additional 163,505 shares during the period. Geode Capital Management LLC lifted its position in Ormat Technologies by 1.8% during the third quarter. Geode Capital Management LLC now owns 1,301,291 shares of the energy company's stock valued at $100,140,000 after purchasing an additional 22,714 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Ormat Technologies by 6.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 618,937 shares of the energy company's stock worth $41,914,000 after purchasing an additional 39,689 shares during the last quarter. Y.D. More Investments Ltd grew its position in Ormat Technologies by 13.2% in the 4th quarter. Y.D. More Investments Ltd now owns 524,416 shares of the energy company's stock worth $36,030,000 after purchasing an additional 61,236 shares during the period. Finally, Van ECK Associates Corp grew its position in Ormat Technologies by 8.6% in the 4th quarter. Van ECK Associates Corp now owns 418,653 shares of the energy company's stock worth $28,352,000 after purchasing an additional 33,279 shares during the period. 95.49% of the stock is currently owned by institutional investors.

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Ormat Technologies Trading Up 0.4 %

Shares of NYSE:ORA traded up $0.29 during trading on Thursday, hitting $70.10. The company had a trading volume of 295,370 shares, compared to its average volume of 471,176. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of 35.76, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. The company has a fifty day simple moving average of $67.47 and a two-hundred day simple moving average of $72.87. Ormat Technologies, Inc. has a one year low of $59.41 and a one year high of $84.30.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were given a $0.12 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.68%. Ormat Technologies's dividend payout ratio is presently 23.53%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ORA. JPMorgan Chase & Co. raised 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 began coverage on Ormat Technologies in a research note on Thursday, March 13th. They issued a "neutral" rating and a $81.00 price objective for the company. Jefferies Financial Group lifted their target price on Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday. Baird R W upgraded Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. Finally, Piper Sandler initiated coverage on Ormat Technologies in a research report on Thursday, December 19th. They set a "neutral" rating and a $78.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Ormat Technologies presently has an average rating of "Hold" and an average price target of $83.56.

Insiders Place Their Bets

In other news, insider Jessica Woelfel sold 409 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total value of $29,509.35. Following the completion of the sale, the insider now owns 6,094 shares in the company, valued at approximately $439,682.10. This trade represents a 6.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction dated Monday, March 3rd. The stock was 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 of the company's stock, valued at approximately $131,790. This represents a 46.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,242 shares of company stock valued at $156,427 over the last three months. 1.00% of the stock is owned by company 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.