Ormat Technologies, Inc. (NYSE:ORA) Shares Acquired by Harrington Investments INC

Harrington Investments INC increased its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,188 shares of the energy company’s stock after buying an additional 358 shares during the period. Harrington Investments INC’s holdings in Ormat Technologies were worth $554,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Global Alpha Capital Management Ltd. increased its holdings in shares of Ormat Technologies by 6.1% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 2,446,624 shares of the energy company’s stock valued at $188,125,000 after acquiring an additional 140,882 shares during the period. Impax Asset Management Group plc lifted its stake in shares of Ormat Technologies by 7.3% in the fourth quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company’s stock valued at $162,586,000 after purchasing an additional 163,505 shares during the period. Geode Capital Management LLC boosted its stake in shares of Ormat Technologies by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,301,291 shares of the energy company’s stock worth $100,140,000 after acquiring an additional 22,714 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 purchasing an additional 39,689 shares during the last quarter. Finally, Y.D. More Investments Ltd increased its holdings in Ormat Technologies by 13.2% during the 4th quarter. Y.D. More Investments Ltd now owns 524,416 shares of the energy company’s stock valued at $36,030,000 after acquiring an additional 61,236 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Trading Up 0.6 %

Shares of NYSE:ORA opened at $71.92 on Friday. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 3.18 and a beta of 0.51. Ormat Technologies, Inc. has a 12 month low of $59.41 and a 12 month high of $84.30. The company’s fifty day simple moving average is $66.79 and its 200 day simple moving average is $73.02. 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.67%. Ormat Technologies’s dividend payout ratio is currently 23.53%.

Analyst Ratings Changes

Several research firms recently weighed in on ORA. Robert W. Baird initiated coverage on Ormat Technologies in a research report on Thursday. They set a “neutral” rating and a $81.00 target price on the stock. Piper Sandler initiated coverage on Ormat Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price target for the company. JPMorgan Chase & Co. upped their target price 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. Baird R W raised Ormat Technologies to a “hold” rating in a research note on Thursday. Finally, Jefferies Financial Group raised Ormat Technologies from a “hold” rating to a “buy” rating and lifted their price target for the stock from $73.00 to $78.00 in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $82.67.

Insider Activity at Ormat Technologies

In other news, Director David Granot sold 1,666 shares of the business’s stock in a transaction that occurred 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 completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by company 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.