Legal & General Group Plc Acquires 9,198 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Legal & General Group Plc raised its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 478,768 shares of the energy company's stock after acquiring an additional 9,198 shares during the quarter. Legal & General Group Plc owned approximately 0.79% of Ormat Technologies worth $32,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in Ormat Technologies by 5.6% during the fourth quarter. Principal Financial Group Inc. now owns 131,906 shares of the energy company's stock valued at $8,933,000 after purchasing an additional 7,025 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Ormat Technologies by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company's stock valued at $409,305,000 after buying an additional 274,540 shares in the last quarter. Element Capital Management LLC bought a new position in shares of Ormat Technologies during the 4th quarter valued at approximately $2,113,000. Daiwa Securities Group Inc. purchased a new stake in Ormat Technologies in the 4th quarter worth approximately $752,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Ormat Technologies by 6.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 618,937 shares of the energy company's stock worth $41,914,000 after acquiring an additional 39,689 shares during the period. Institutional investors own 95.49% of the company's stock.

Ormat Technologies Price Performance

Shares of NYSE:ORA traded up $1.23 on Friday, reaching $71.58. The company's stock had a trading volume of 514,025 shares, compared to its average volume of 491,551. The company has a 50-day simple moving average of $69.27 and a 200 day simple moving average of $72.21. 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 company has a market cap of $4.34 billion, a P/E ratio of 36.52, a PEG ratio of 3.18 and a beta of 0.52. Ormat Technologies, Inc. has a 52-week low of $61.58 and a 52-week high of $84.30.

Ormat Technologies Dividend Announcement

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

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, insider Jessica Woelfel sold 409 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total transaction of $29,509.35. Following the transaction, the insider now owns 6,094 shares in the company, valued at $439,682.10. The trade was a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 completion of the sale, the director now owns 1,910 shares of the company's stock, valued at $131,790. This trade represents a 46.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,242 shares of company stock worth $156,427 over the last ninety days. Company insiders own 0.56% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price target on Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a report on Friday, February 28th. Robert W. Baird began coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They set a "neutral" rating and a $81.00 price objective for the company. Jefferies Financial Group boosted their target price on shares of Ormat Technologies from $78.00 to $86.00 and gave the stock a "buy" rating in a report on Tuesday, March 25th. Baird R W raised shares of Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. Finally, Piper Sandler began coverage on shares of Ormat Technologies in a report on Thursday, December 19th. They issued a "neutral" rating and a $78.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target 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.