Pictet Asset Management Holding SA Has $1.27 Million Stock Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Pictet Asset Management Holding SA raised its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 128.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,725 shares of the energy company's stock after acquiring an additional 10,535 shares during the quarter. Pictet Asset Management Holding SA's holdings in Ormat Technologies were worth $1,268,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. New Age Alpha Advisors LLC purchased a new stake in Ormat Technologies during the 4th quarter valued at approximately $2,338,000. Norges Bank acquired a new stake in Ormat Technologies during the 4th quarter valued at $62,851,000. Corebridge Financial Inc. grew its holdings in Ormat Technologies by 1.3% during the 4th quarter. Corebridge Financial Inc. now owns 93,305 shares of the energy company's stock valued at $6,319,000 after buying an additional 1,219 shares during the last quarter. Vanguard Group Inc. grew its holdings in 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 during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Ormat Technologies during the 4th quarter worth $5,953,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Ormat Technologies Stock Performance

Shares of NYSE ORA traded down $1.12 during midday trading on Thursday, hitting $68.33. 55,926 shares of the company's stock were exchanged, compared to its average volume of 495,094. 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 50 day moving average price is $68.47 and its 200-day moving average price is $72.45. The firm has a market cap of $4.14 billion, a P/E ratio of 34.86, 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.

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Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.70%. Ormat Technologies's dividend payout ratio (DPR) is 23.53%.

Insiders Place Their Bets

In other Ormat Technologies news, Director David Granot sold 1,666 shares of the business's stock in a transaction 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 sale, the director now directly owns 1,910 shares of the company's stock, valued at $131,790. The trade was a 46.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the insider now directly owns 6,094 shares in the company, valued at approximately $439,682.10. This trade represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,242 shares of company stock worth $156,427 over the last ninety days. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

ORA has been the topic of a number of recent analyst reports. StockNews.com raised Ormat Technologies from a "sell" rating to a "hold" rating in a research note on Monday. JPMorgan Chase & Co. raised their price objective on Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, February 28th. Piper Sandler began coverage on Ormat Technologies in a research report on Thursday, December 19th. They issued a "neutral" rating and a $78.00 price objective on the stock. Jefferies Financial Group raised their target price on Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, March 25th. Finally, Robert W. Baird assumed 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. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, 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.