New Age Alpha Advisors LLC Purchases New Shares in Ormat Technologies, Inc. (NYSE:ORA)

New Age Alpha Advisors LLC bought a new position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 34,523 shares of the energy company's stock, valued at approximately $2,338,000. New Age Alpha Advisors LLC owned 0.06% of Ormat Technologies at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in shares of Ormat Technologies by 5.6% during the fourth quarter. Principal Financial Group Inc. now owns 131,906 shares of the energy company's stock worth $8,933,000 after buying an additional 7,025 shares during the period. Element Capital Management LLC bought a new stake in Ormat Technologies in the 4th quarter valued at approximately $2,113,000. Daiwa Securities Group Inc. acquired a new position in Ormat Technologies during the 4th quarter worth approximately $752,000. Charles Schwab Investment Management Inc. grew its stake in shares of 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 in the last quarter. Finally, RWC Asset Management LLP grew its stake in shares of Ormat Technologies by 348.9% during the 4th quarter. RWC Asset Management LLP now owns 165,599 shares of the energy company's stock worth $11,214,000 after acquiring an additional 128,705 shares in the last quarter. Institutional investors own 95.49% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. increased 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. Piper Sandler started coverage on shares of Ormat Technologies in a research note on Thursday, December 19th. They set a "neutral" rating and a $78.00 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, March 25th. Baird R W upgraded Ormat Technologies to a "hold" rating in a report on Thursday, March 13th. Finally, 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 price target for the company. Six equities 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.com, the stock has an average rating of "Hold" and an average target price of $83.56.

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Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director David Granot sold 1,666 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were 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 directly owns 1,910 shares in the company, valued at $131,790. This trade represents a 46.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jessica Woelfel sold 409 shares of the company's stock in a transaction that occurred on 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 transaction, the insider now directly owns 6,094 shares in the company, valued at $439,682.10. The trade was a 6.29 % 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. Insiders own 1.00% of the company's stock.

Ormat Technologies Stock Performance

NYSE ORA traded up $0.71 during trading on Thursday, reaching $72.00. 214,569 shares of the company's stock were exchanged, compared to its average volume of 487,785. Ormat Technologies, Inc. has a fifty-two week low of $59.41 and a fifty-two week high of $84.30. The stock has a market capitalization of $4.36 billion, a P/E ratio of 36.73, a PEG ratio of 3.18 and a beta of 0.52. The business has a 50 day moving average price of $67.88 and a 200-day moving average price of $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.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders 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 annualized dividend and a dividend yield of 0.67%. Ormat Technologies's dividend payout ratio is currently 23.53%.

About Ormat Technologies

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.