Candriam S.C.A. Buys New Shares in Ormat Technologies, Inc. (NYSE:ORA)

Candriam S.C.A. purchased a new stake in shares of Ormat Technologies, Inc. (NYSE:ORA) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 101,747 shares of the energy company’s stock, valued at approximately $6,890,000. Candriam S.C.A. owned 0.17% of Ormat Technologies as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ORA. Raymond James Financial Inc. bought a new position in shares of Ormat Technologies during the fourth quarter valued at approximately $204,000. Aigen Investment Management LP purchased a new position in shares of Ormat Technologies during the 4th quarter worth $425,000. Proficio Capital Partners LLC purchased a new position in shares of Ormat Technologies during the 4th quarter worth $766,000. Victory Capital Management Inc. lifted its stake in shares of Ormat Technologies by 1.8% during the 4th quarter. Victory Capital Management Inc. now owns 18,896 shares of the energy company’s stock valued at $1,280,000 after buying an additional 336 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted 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 valued at $41,914,000 after buying an additional 39,689 shares in the last quarter. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ormat Technologies

In other Ormat Technologies news, Director David Granot sold 1,666 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total value of $114,954.00. Following the completion of the transaction, the director now owns 1,910 shares in the company, valued at $131,790. This represents a 46.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Corp Orix sold 3,700,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $75.38, for a total value of $278,906,000.00. Following the transaction, the insider now owns 2,976,077 shares of the company’s stock, valued at approximately $224,336,684.26. This trade represents a 55.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Ormat Technologies Stock Up 1.8 %

ORA stock opened at $70.64 on Friday. The company’s 50 day moving average is $66.46 and its two-hundred day moving average is $73.09. The stock has a market cap of $4.27 billion, a P/E ratio of 36.04, a PEG ratio of 3.18 and a beta of 0.57. Ormat Technologies, Inc. has a twelve month low of $59.41 and a twelve month high of $84.30. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be given a $0.12 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.68%. Ormat Technologies’s dividend payout ratio (DPR) is 23.53%.

Analyst Upgrades and Downgrades

ORA has been the topic of a number of research reports. Oppenheimer lifted their price target on shares of Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Jefferies Financial Group upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating and increased their price objective for the company from $73.00 to $78.00 in a research note on Thursday, February 20th. Roth Mkm restated a “buy” rating and issued a $92.00 target price (up from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Finally, Piper Sandler initiated coverage on shares of Ormat Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $78.00 target price for the company. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Ormat Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $82.88.

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.