Northwest & Ethical Investments L.P. Acquires 18,310 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Northwest & Ethical Investments L.P. boosted its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 53.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,757 shares of the energy company’s stock after purchasing 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 SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Ormat Technologies by 7.0% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,689 shares of the energy company’s stock worth $859,000 after purchasing an additional 829 shares during the period. Xponance Inc. boosted its stake in Ormat Technologies by 20.0% in the 4th quarter. Xponance Inc. now owns 8,757 shares of the energy company’s stock worth $593,000 after purchasing an additional 1,462 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Ormat Technologies by 6.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 13,617 shares of the energy company’s stock worth $922,000 after acquiring an additional 878 shares in the last quarter. Cibc World Markets Corp purchased a new stake in shares of Ormat Technologies during the 4th quarter worth approximately $366,000. Finally, Harrington Investments INC raised its holdings in shares of Ormat Technologies by 4.6% during the 4th quarter. Harrington Investments INC now owns 8,188 shares of the energy company’s stock worth $554,000 after acquiring an additional 358 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director David Granot sold 1,666 shares of the company’s stock in a transaction 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 transaction, the director now owns 1,910 shares of the company’s stock, valued at $131,790. This represents a 46.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 value of $29,509.35. Following 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. 1.00% of the stock is currently owned by corporate insiders.

Ormat Technologies Stock Performance

Shares of Ormat Technologies stock opened at $72.09 on Friday. The stock’s fifty day moving average is $67.11 and its two-hundred day moving average is $72.94. The company has a market capitalization of $4.36 billion, a PE ratio of 36.78, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. Ormat Technologies, Inc. has a 52 week low of $59.41 and a 52 week high of $84.30.

Ormat Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be given a $0.12 dividend. This represents a $0.48 annualized dividend 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%.

Wall Street Analysts Forecast Growth

ORA has been the topic of several recent research reports. Jefferies Financial Group raised Ormat Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $73.00 to $78.00 in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their price objective on Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Robert W. Baird initiated coverage on Ormat Technologies in a report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price objective on the stock. Piper Sandler initiated coverage on Ormat Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $78.00 price objective on the stock. Finally, Baird R W upgraded Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $82.67.

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.