Swiss National Bank Buys 800 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Swiss National Bank boosted its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 0.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 107,034 shares of the energy company’s stock after purchasing an additional 800 shares during the quarter. Swiss National Bank’s holdings in Ormat Technologies were worth $7,248,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ORA. Impax Asset Management Group plc boosted its holdings in shares of Ormat Technologies by 7.3% in the 4th quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company’s stock valued at $162,586,000 after buying an additional 163,505 shares in the last quarter. Geode Capital Management LLC lifted its position in Ormat Technologies by 1.8% during the third quarter. Geode Capital Management LLC now owns 1,301,291 shares of the energy company’s stock valued at $100,140,000 after acquiring an additional 22,714 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Ormat Technologies by 6.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 618,937 shares of the energy company’s stock valued at $41,914,000 after acquiring an additional 39,689 shares in the last quarter. Y.D. More Investments Ltd grew its holdings in Ormat Technologies by 13.2% in the fourth quarter. Y.D. More Investments Ltd now owns 524,416 shares of the energy company’s stock worth $36,030,000 after purchasing an additional 61,236 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Ormat Technologies by 8.6% during the fourth quarter. Van ECK Associates Corp now owns 418,653 shares of the energy company’s stock worth $28,352,000 after purchasing an additional 33,279 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ORA. JPMorgan Chase & Co. boosted their target price on Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Jefferies Financial Group upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $73.00 to $78.00 in a report on Thursday, February 20th. Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. Robert W. Baird started coverage on shares of Ormat Technologies in a research note on Thursday, March 13th. They set a “neutral” rating and a $81.00 price target on the stock. Finally, Piper Sandler assumed coverage on Ormat Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Ormat Technologies presently has a consensus rating of “Hold” and an average price target of $82.67.

Insider Activity at Ormat Technologies

In related news, 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 value of $29,509.35. Following the completion of the sale, the insider now owns 6,094 shares of the company’s stock, valued at approximately $439,682.10. The trade was a 6.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Granot sold 1,666 shares of the 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 directly owns 1,910 shares in the company, valued at approximately $131,790. The trade was a 46.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Ormat Technologies Trading Down 0.5 %

Ormat Technologies stock opened at $71.67 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The firm has a market cap of $4.34 billion, a PE ratio of 36.57, a P/E/G ratio of 3.18 and a beta of 0.51. The stock’s 50 day simple moving average is $67.23 and its two-hundred day simple moving average is $72.93. Ormat Technologies, Inc. has a 12 month low of $59.41 and a 12 month high of $84.30.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. Ormat Technologies’s payout ratio is 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.