Ormat Technologies, Inc. (NYSE:ORA) Stock Position Boosted by Meeder Asset Management Inc.

Meeder Asset Management Inc. grew its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 175.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,130 shares of the energy company's stock after purchasing an additional 13,469 shares during the period. Meeder Asset Management Inc.'s holdings in Ormat Technologies were worth $1,431,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ORA. Pictet Asset Management Holding SA grew its stake in shares of Ormat Technologies by 128.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 18,725 shares of the energy company's stock worth $1,268,000 after buying an additional 10,535 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in Ormat Technologies in the 4th quarter valued at approximately $2,338,000. Norges Bank purchased a new stake in Ormat Technologies in the 4th quarter worth approximately $62,851,000. Corebridge Financial Inc. grew its stake in Ormat Technologies by 1.3% in the 4th quarter. Corebridge Financial Inc. now owns 93,305 shares of the energy company's stock worth $6,319,000 after buying an additional 1,219 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings 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 purchasing an additional 274,540 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company's stock.

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Ormat Technologies Stock Performance

Shares of ORA stock traded down $0.22 during trading hours on Thursday, hitting $71.07. The stock had a trading volume of 424,376 shares, compared to its average volume of 488,650. The stock's 50 day moving average is $67.88 and its 200 day moving average is $72.77. 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 firm has a market capitalization of $4.31 billion, a PE ratio of 36.28, a PEG ratio of 3.18 and a beta of 0.52. Ormat Technologies, Inc. has a twelve month low of $59.41 and a twelve month high of $84.30.

Ormat Technologies Announces Dividend

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

Insider Activity

In other Ormat Technologies news, 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 value of $29,509.35. Following the sale, the insider now directly owns 6,094 shares of the company's stock, valued at approximately $439,682.10. This trade represents a 6.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Granot sold 1,666 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $69.00, for a total value of $114,954.00. Following the sale, the director now owns 1,910 shares of the company's stock, valued at $131,790. The trade was a 46.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,242 shares of company stock worth $156,427. Company insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ORA. Baird R W upgraded shares of Ormat Technologies to a "hold" rating in a report on Thursday, March 13th. Piper Sandler initiated coverage on shares of Ormat Technologies in a research report on Thursday, December 19th. They set a "neutral" rating and a $78.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, February 28th. Jefferies Financial Group lifted their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a report on Tuesday, March 25th. Finally, Robert W. Baird initiated coverage on shares of Ormat Technologies in a research report on Thursday, March 13th. They issued a "neutral" rating and a $81.00 target price for the company. 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 currently has an average rating of "Hold" and a consensus target price of $83.56.

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.