Ormat Technologies, Inc. (NYSE:ORA) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its position in Ormat Technologies, Inc. (NYSE:ORA) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,043,996 shares of the energy company’s stock after purchasing an additional 274,540 shares during the quarter. Vanguard Group Inc. owned approximately 9.99% of Ormat Technologies worth $409,305,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. lifted its position in shares of Ormat Technologies by 2.0% during the 4th 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. Bailard Inc. lifted its position in Ormat Technologies by 0.9% in the fourth quarter. Bailard Inc. now owns 19,446 shares of the energy company’s stock valued at $1,317,000 after acquiring an additional 169 shares during the last quarter. Securian Asset Management Inc. boosted its stake in Ormat Technologies by 5.1% in the fourth quarter. Securian Asset Management Inc. now owns 4,354 shares of the energy company’s stock valued at $295,000 after acquiring an additional 212 shares in the last quarter. Versant Capital Management Inc boosted its stake in Ormat Technologies by 132.4% in the fourth 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 in the last quarter. Finally, Caprock Group LLC grew its holdings in shares of Ormat Technologies by 4.0% during the fourth 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 last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ORA has been the subject of a number of research analyst reports. Jefferies Financial Group upped their target price on Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, March 25th. Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. Piper Sandler began coverage on shares of Ormat Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Finally, Robert W. Baird started coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 target price for the company. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $83.56.

Ormat Technologies Stock Performance

Shares of ORA opened at $71.30 on Thursday. The company has a market capitalization of $4.32 billion, a PE ratio of 36.38, a P/E/G ratio of 3.18 and a beta of 0.52. Ormat Technologies, Inc. has a 52-week low of $59.41 and a 52-week high of $84.30. The company has a 50-day simple moving average of $67.88 and a 200-day simple moving average of $72.77. 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 Dividend Announcement

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

Insider Transactions at Ormat Technologies

In related news, Director David Granot sold 1,666 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $69.00, for a total value of $114,954.00. Following the sale, the director now directly owns 1,910 shares of the company’s stock, valued at approximately $131,790. This represents a 46.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jessica Woelfel sold 409 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total transaction of $29,509.35. Following the transaction, the insider now owns 6,094 shares of the company’s stock, valued at $439,682.10. This trade represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,242 shares of company stock valued at $156,427 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

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.