Commonwealth of Pennsylvania Public School Empls Retrmt SYS Increases Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,689 shares of the energy company’s stock after buying an additional 829 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Ormat Technologies were worth $859,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Erste Asset Management GmbH bought a new stake in Ormat Technologies during the 3rd quarter valued at $19,096,000. Impax Asset Management Group plc boosted its position in Ormat Technologies by 7.3% during the fourth quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company’s stock valued at $162,586,000 after purchasing an additional 163,505 shares in the last quarter. Handelsbanken Fonder AB boosted its position in Ormat Technologies by 896.6% during the fourth quarter. Handelsbanken Fonder AB now owns 155,906 shares of the energy company’s stock valued at $10,558,000 after purchasing an additional 140,262 shares in the last quarter. RWC Asset Management LLP grew its stake in Ormat Technologies by 348.9% in the fourth quarter. RWC Asset Management LLP now owns 165,599 shares of the energy company’s stock valued at $11,214,000 after purchasing an additional 128,705 shares during the last quarter. Finally, Candriam S.C.A. purchased a new stake in shares of Ormat Technologies during the fourth quarter valued at about $6,890,000. Institutional investors own 95.49% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jessica Woelfel sold 409 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total value of $29,509.35. Following the sale, the insider now owns 6,094 shares in the company, valued at $439,682.10. This represents a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,242 shares of company stock valued at $156,427. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ORA shares. Jefferies Financial Group lifted their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday. Baird R W raised shares of Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. Piper Sandler began coverage on Ormat Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $78.00 price objective for the company. Robert W. Baird assumed coverage on Ormat Technologies in a research note on Thursday, March 13th. They set a “neutral” rating and a $81.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $83.56.

Ormat Technologies Stock Down 2.0 %

Ormat Technologies stock opened at $69.78 on Thursday. The business’s 50-day simple moving average is $67.47 and its two-hundred day simple moving average is $72.87. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. The company has a market cap of $4.22 billion, a PE ratio of 35.60, a PEG ratio of 3.18 and a beta of 0.51. Ormat Technologies, Inc. has a fifty-two week low of $59.41 and a fifty-two week high of $84.30.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were issued a $0.12 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 0.69%. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.53%.

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.