Catalyst Funds Management Pty Ltd Purchases 3,600 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Catalyst Funds Management Pty Ltd increased its stake in Ormat Technologies, Inc. (NYSE:ORA) by 900.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,000 shares of the energy company’s stock after purchasing an additional 3,600 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in Ormat Technologies were worth $271,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Pacer Advisors Inc. raised its holdings in shares of Ormat Technologies by 2.0% in the 4th quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company’s stock worth $544,000 after purchasing an additional 160 shares during the period. Bailard Inc. raised its holdings in shares of Ormat Technologies by 0.9% in the 4th quarter. Bailard Inc. now owns 19,446 shares of the energy company’s stock worth $1,317,000 after purchasing an additional 169 shares during the period. Securian Asset Management Inc. raised its holdings in shares of Ormat Technologies by 5.1% in the 4th quarter. Securian Asset Management Inc. now owns 4,354 shares of the energy company’s stock worth $295,000 after purchasing an additional 212 shares during the period. Versant Capital Management Inc raised its holdings in shares of Ormat Technologies by 132.4% in the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock worth $27,000 after purchasing an additional 229 shares during the period. Finally, Caprock Group LLC raised its holdings in shares of Ormat Technologies by 4.0% in the 4th quarter. Caprock Group LLC now owns 6,080 shares of the energy company’s stock worth $412,000 after purchasing an additional 235 shares during the period. Institutional investors own 95.49% of the company’s stock.

Wall Street Analysts Forecast Growth

ORA has been the topic of a number of research reports. Baird R W raised shares of Ormat Technologies to a “hold” rating in a report on Thursday. Piper Sandler started coverage on shares of Ormat Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Robert W. Baird started coverage on shares of Ormat Technologies in a report on Thursday. They set a “neutral” rating and a $81.00 target price on the stock. Finally, Jefferies Financial Group raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and boosted their target price for the company from $73.00 to $78.00 in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $82.67.

Ormat Technologies Stock Up 0.6 %

ORA opened at $71.92 on Monday. The company has a fifty day moving average price of $66.85 and a 200-day moving average price of $72.98. The firm has a market capitalization of $4.35 billion, a P/E ratio of 36.69, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51. 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, Inc. has a one year low of $59.41 and a one year high of $84.30.

Ormat Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.67%. Ormat Technologies’s dividend payout ratio (DPR) is currently 23.53%.

Insider Activity

In other 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 completion of the transaction, the director now directly owns 1,910 shares in the company, valued at $131,790. The trade was a 46.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.00% of the company’s stock.

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.