Mutual of America Capital Management LLC Acquires 1,256 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Mutual of America Capital Management LLC grew its stake in Ormat Technologies, Inc. (NYSE:ORA) by 4.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,335 shares of the energy company’s stock after purchasing an additional 1,256 shares during the quarter. Mutual of America Capital Management LLC owned about 0.05% of Ormat Technologies worth $2,054,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Pacer Advisors Inc. boosted its holdings in Ormat Technologies by 2.0% during the fourth quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company’s stock worth $544,000 after buying an additional 160 shares during the last quarter. Versant Capital Management Inc increased its stake 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 valued at $27,000 after acquiring an additional 229 shares during the last quarter. Caprock Group LLC increased its stake 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 valued at $412,000 after acquiring an additional 235 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Ormat Technologies by 7.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 6,221 shares of the energy company’s stock valued at $478,000 after acquiring an additional 420 shares during the period. Finally, Pathstone Holdings LLC boosted its stake in Ormat Technologies by 2.4% during the 3rd quarter. Pathstone Holdings LLC now owns 17,729 shares of the energy company’s stock worth $1,364,000 after acquiring an additional 422 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder Corp Orix sold 3,700,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $75.38, for a total value of $278,906,000.00. Following the completion of the transaction, the insider now owns 2,976,077 shares of the company’s stock, valued at approximately $224,336,684.26. This trade represents a 55.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Granot sold 1,666 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $69.00, for a total transaction of $114,954.00. Following the sale, the director now directly owns 1,910 shares in the company, valued at $131,790. This trade represents a 46.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ORA shares. Jefferies Financial Group raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $73.00 to $78.00 in a research note on Thursday, February 20th. 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 report on Friday, February 28th. Piper Sandler started coverage on Ormat Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $78.00 target price on the stock. Roth Mkm reissued a “buy” rating and issued a $92.00 target price (up from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Finally, Oppenheimer raised their price target on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $82.88.

Ormat Technologies Stock Performance

ORA opened at $70.64 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of 36.04, a P/E/G ratio of 3.18 and a beta of 0.57. The business’s 50-day moving average price is $66.46 and its two-hundred day moving average price is $73.09. Ormat Technologies, Inc. has a 1 year low of $59.41 and a 1 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. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Wednesday, March 12th. Ormat Technologies’s dividend payout ratio (DPR) is currently 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.