Northwest & Ethical Investments L.P. Raises Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Northwest & Ethical Investments L.P. raised its holdings in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 53.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 52,757 shares of the energy company's stock after acquiring an additional 18,310 shares during the quarter. Northwest & Ethical Investments L.P. owned approximately 0.09% of Ormat Technologies worth $3,573,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in shares of Ormat Technologies by 5.6% in the fourth quarter. Principal Financial Group Inc. now owns 131,906 shares of the energy company's stock worth $8,933,000 after purchasing an additional 7,025 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in Ormat Technologies in the 4th quarter valued at about $752,000. Charles Schwab Investment Management Inc. grew its stake in Ormat Technologies by 6.9% in 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. RWC Asset Management LLP increased its position in shares of Ormat Technologies by 348.9% during the fourth 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 during the period. Finally, Empowered Funds LLC bought a new stake in shares of Ormat Technologies during the fourth quarter valued at approximately $265,000. Hedge funds and other institutional investors own 95.49% of the company's stock.

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Insider Transactions at Ormat Technologies

In other Ormat Technologies news, Director David Granot sold 1,666 shares of Ormat Technologies 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 approximately $131,790. The trade was a 46.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jessica Woelfel sold 409 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total transaction of $29,509.35. Following the completion of the sale, the insider now 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 own 1.00% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ORA. Jefferies Financial Group increased their price objective on Ormat Technologies from $78.00 to $86.00 and gave the stock a "buy" rating in a research note on Tuesday. Piper Sandler initiated coverage on Ormat Technologies in a research report on Thursday, December 19th. They set a "neutral" rating and a $78.00 price target on the stock. Baird R W upgraded Ormat Technologies to a "hold" rating in a report on Thursday, March 13th. 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. Finally, Robert W. Baird initiated coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They issued a "neutral" rating and a $81.00 price target for the company. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $83.56.

Ormat Technologies Stock Up 0.1 %

Shares of ORA stock traded up $0.09 during mid-day trading on Tuesday, hitting $71.24. 502,444 shares of the stock traded hands, compared to its average volume of 470,692. The stock has a market cap of $4.31 billion, a P/E ratio of 36.35, a P/E/G ratio of 3.18 and a beta of 0.51. Ormat Technologies, Inc. has a 52-week low of $59.41 and a 52-week high of $84.30. 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 stock's fifty day moving average is $67.32 and its two-hundred day moving average is $72.91.

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 paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Wednesday, March 12th. Ormat Technologies's dividend payout ratio (DPR) is presently 23.53%.

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.