Daiwa Securities Group Inc. Acquires Shares of 11,100 Ormat Technologies, Inc. (NYSE:ORA)

Daiwa Securities Group Inc. acquired a new stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,100 shares of the energy company's stock, valued at approximately $752,000.

Several other institutional investors and hedge funds have also made changes to their positions in ORA. Erste Asset Management GmbH purchased a new stake in shares of Ormat Technologies in the third quarter valued at $19,096,000. Impax Asset Management Group plc increased its stake in Ormat Technologies by 7.3% in the fourth quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company's stock valued at $162,586,000 after purchasing an additional 163,505 shares during the last quarter. Global Alpha Capital Management Ltd. increased its stake in Ormat Technologies by 6.1% in the third quarter. Global Alpha Capital Management Ltd. now owns 2,446,624 shares of the energy company's stock valued at $188,125,000 after purchasing an additional 140,882 shares during the last quarter. Handelsbanken Fonder AB increased its stake in Ormat Technologies by 896.6% in the fourth quarter. Handelsbanken Fonder AB now owns 155,906 shares of the energy company's stock valued at $10,558,000 after purchasing an additional 140,262 shares during the last quarter. Finally, RWC Asset Management LLP increased its stake in Ormat Technologies by 348.9% in the fourth quarter. RWC Asset Management LLP now owns 165,599 shares of the energy company's stock valued at $11,214,000 after purchasing an additional 128,705 shares during the last quarter. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity at Ormat Technologies

In related news, Director David Granot sold 1,666 shares of the firm's 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 sale, the director now directly owns 1,910 shares in the company, valued at approximately $131,790. This trade represents a 46.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.00% of the company's stock.

Ormat Technologies Stock Down 0.4 %

Shares of NYSE:ORA traded down $0.30 during mid-day trading on Wednesday, hitting $71.80. 431,405 shares of the company traded hands, compared to its average volume of 467,901. The firm has a market cap of $4.34 billion, a P/E ratio of 36.63, a PEG ratio of 3.18 and a beta of 0.51. 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. The firm's 50 day simple moving average is $66.97 and its 200 day simple moving average is $72.96.

Ormat Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ORA shares. Baird R W upgraded Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. Robert W. Baird started coverage on Ormat Technologies in a research note on Thursday, March 13th. They issued a "neutral" rating and a $81.00 target price for the company. Piper Sandler started coverage on Ormat Technologies in a research note on Thursday, December 19th. They issued a "neutral" rating and a $78.00 target price for the company. Jefferies Financial Group upgraded Ormat Technologies from a "hold" rating to a "buy" rating and upped their price target for the stock from $73.00 to $78.00 in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. upped 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. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Ormat Technologies currently has a consensus rating of "Hold" and an average price target of $82.67.

Ormat Technologies Company 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.