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

Swiss National Bank grew its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,034 shares of the energy company’s stock after buying an additional 800 shares during the period. Swiss National Bank owned 0.18% of Ormat Technologies worth $7,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Ormat Technologies Stock Down 0.5 %

Shares of NYSE ORA opened at $71.67 on Friday. The company has a market cap of $4.34 billion, a P/E ratio of 36.57, a PEG ratio of 3.18 and a beta of 0.51. The firm has a 50-day simple moving average of $67.23 and a two-hundred day simple moving average of $72.93. Ormat Technologies, Inc. has a 1 year low of $59.41 and a 1 year high of $84.30. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87.

Ormat Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Wednesday, March 12th. Ormat Technologies’s payout ratio is currently 23.53%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, 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 value 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David Granot sold 1,666 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $69.00, for a total transaction of $114,954.00. Following the completion of the sale, 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. Insiders own 1.00% of the company’s stock.

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.