Dynamic Technology Lab Private Ltd Makes New Investment in Ormat Technologies, Inc. (NYSE:ORA)

Dynamic Technology Lab Private Ltd bought a new stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 11,950 shares of the energy company's stock, valued at approximately $809,000.

Several other large investors have also recently bought and sold shares of ORA. Norges Bank acquired a new stake in shares of Ormat Technologies during the 4th quarter worth approximately $62,851,000. Vanguard Group Inc. boosted its stake in Ormat Technologies by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company's stock worth $409,305,000 after buying an additional 274,540 shares in the last quarter. Impax Asset Management Group plc raised its holdings in shares of Ormat Technologies by 7.3% in the 4th quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company's stock worth $162,586,000 after buying an additional 163,505 shares in the last quarter. Handelsbanken Fonder AB raised its stake 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 acquiring an additional 140,262 shares in the last quarter. Finally, RWC Asset Management LLP lifted its holdings in 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 purchasing an additional 128,705 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ormat Technologies

In other Ormat Technologies 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 value of $114,954.00. Following the transaction, the director now directly owns 1,910 shares in the company, valued at $131,790. The trade was a 46.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jessica Woelfel sold 409 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total transaction of $29,509.35. Following the sale, the insider now owns 6,094 shares of the company's stock, valued at approximately $439,682.10. This represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,242 shares of company stock worth $156,427. Insiders own 1.00% of the company's stock.

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Ormat Technologies Stock Up 1.1 %

Shares of Ormat Technologies stock traded up $0.77 during trading hours on Friday, reaching $69.30. 111,399 shares of the company's stock were exchanged, compared to its average volume of 534,047. 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 company has a 50 day moving average of $68.59 and a two-hundred day moving average of $72.40. The stock has a market cap of $4.20 billion, a P/E ratio of 35.25, a P/E/G ratio of 3.18 and a beta of 0.52. Ormat Technologies, Inc. has a fifty-two week low of $59.41 and a fifty-two week high of $84.30.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Wednesday, March 12th. Ormat Technologies's payout ratio is presently 23.53%.

Analysts Set New Price Targets

ORA has been the topic of several research reports. Baird R W raised Ormat Technologies to a "hold" rating in a report on Thursday, March 13th. Piper Sandler assumed coverage on Ormat Technologies in a research report on Thursday, December 19th. They issued a "neutral" rating and a $78.00 price objective for the company. Jefferies Financial Group upped their target price on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, March 25th. JPMorgan Chase & Co. lifted their price target 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, Robert W. Baird began coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They issued a "neutral" rating and a $81.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Ormat Technologies presently has an average rating of "Hold" and an average target price of $83.56.

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.