New Age Alpha Advisors LLC Acquires Shares of 34,523 Ormat Technologies, Inc. (NYSE:ORA)

New Age Alpha Advisors LLC bought a new position in shares of Ormat Technologies, Inc. (NYSE:ORA) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 34,523 shares of the energy company’s stock, valued at approximately $2,338,000. New Age Alpha Advisors LLC owned approximately 0.06% of Ormat Technologies at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Versant Capital Management Inc lifted its holdings 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 during the period. AlphaQuest LLC increased its holdings in shares of Ormat Technologies by 4,691.7% in the 4th quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock valued at $39,000 after purchasing an additional 563 shares in the last quarter. Mendota Financial Group LLC acquired a new stake in shares of Ormat Technologies in the fourth quarter valued at about $98,000. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Ormat Technologies during the fourth quarter worth about $182,000. Finally, Raymond James Financial Inc. acquired a new position in Ormat Technologies during the fourth quarter worth about $204,000. 95.49% of the stock is owned by institutional investors and hedge funds.

Ormat Technologies Price Performance

NYSE:ORA opened at $70.55 on Friday. 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 $4.27 billion, a price-to-earnings ratio of 36.00, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51. The company’s 50-day moving average is $67.59 and its two-hundred day moving average is $72.85. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.68%. Ormat Technologies’s dividend payout ratio (DPR) is currently 23.53%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ORA shares. JPMorgan Chase & Co. lifted their price target 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. Jefferies Financial Group boosted their target price on Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, March 25th. Baird R W upgraded Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. Piper Sandler started coverage on shares of Ormat Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price objective on the stock. Finally, Robert W. Baird assumed coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They set 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 given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $83.56.

Insiders Place Their Bets

In other Ormat Technologies news, Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $69.00, for a total value of $114,954.00. Following the completion of the sale, the director now owns 1,910 shares in the company, valued at $131,790. The trade was a 46.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jessica Woelfel sold 409 shares of the stock in a transaction dated Tuesday, March 18th. The stock was 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 in the company, valued at approximately $439,682.10. The trade was a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders 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.