Pictet Asset Management Holding SA Buys 10,535 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Pictet Asset Management Holding SA increased its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 128.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,725 shares of the energy company’s stock after purchasing an additional 10,535 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Ormat Technologies were worth $1,268,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc lifted its holdings in shares of Ormat Technologies by 132.4% during the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock worth $27,000 after acquiring an additional 229 shares during the period. AlphaQuest LLC grew its position in Ormat Technologies by 4,691.7% in the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock valued at $39,000 after acquiring an additional 563 shares during the last quarter. Mendota Financial Group LLC acquired a new stake in shares of Ormat Technologies in the 4th quarter valued at approximately $98,000. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Ormat Technologies in the 4th quarter valued at approximately $182,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Ormat Technologies during the 4th quarter valued at approximately $204,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Stock Performance

ORA stock opened at $68.25 on Friday. The business has a 50 day moving average of $68.05 and a 200-day moving average of $72.69. 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 12-month low of $59.41 and a 12-month high of $84.30. The firm has a market cap of $4.14 billion, a PE ratio of 34.82, a P/E/G ratio of 3.18 and a beta of 0.52.

Ormat Technologies Announces Dividend

The business 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Wednesday, March 12th. Ormat Technologies’s dividend payout ratio (DPR) is currently 23.53%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. JPMorgan Chase & Co. upped their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Piper Sandler started coverage on Ormat Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price target on the stock. Jefferies Financial Group increased 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, March 25th. Finally, Robert W. Baird initiated 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 for the company. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Ormat Technologies has an average rating of “Hold” and an average price target of $83.56.

Insiders Place Their Bets

In related news, insider Jessica Woelfel sold 409 shares of Ormat Technologies stock in a transaction that occurred 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 of the company’s stock, valued at approximately $439,682.10. The trade was a 6.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 value of $114,954.00. Following the transaction, the director now directly owns 1,910 shares of the company’s stock, valued at approximately $131,790. This trade represents a 46.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,242 shares of company stock valued at $156,427. Company insiders own 1.00% of the company’s stock.

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.