Harrington Investments INC Has $554,000 Position in Ormat Technologies, Inc. (NYSE:ORA)

Harrington Investments INC lifted its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 4.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,188 shares of the energy company’s stock after acquiring 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 institutional investors and hedge funds also recently made changes to their positions in ORA. Pacer Advisors Inc. boosted its stake in Ormat Technologies by 2.0% in 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 in the last quarter. Bailard Inc. raised its position in Ormat Technologies by 0.9% during the 4th quarter. Bailard Inc. now owns 19,446 shares of the energy company’s stock valued at $1,317,000 after purchasing an additional 169 shares during the last quarter. Securian Asset Management Inc. lifted 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 worth $295,000 after acquiring an additional 212 shares during the period. Versant Capital Management Inc lifted its position 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 worth $27,000 after purchasing an additional 229 shares during the period. Finally, Caprock Group LLC boosted its stake in shares of Ormat Technologies by 4.0% during the 4th quarter. Caprock Group LLC now owns 6,080 shares of the energy company’s stock valued at $412,000 after purchasing an additional 235 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Analysts Set New Price Targets

ORA has been the subject of several research analyst reports. Jefferies Financial Group upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $73.00 to $78.00 in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their price target on Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Robert W. Baird assumed coverage on Ormat Technologies in a research report on Thursday. They set a “neutral” rating and a $81.00 price objective for the company. 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 on the stock. Finally, Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $82.67.

Ormat Technologies Stock Up 0.6 %

Shares of Ormat Technologies stock opened at $71.92 on Friday. The company has a market cap of $4.35 billion, a price-to-earnings ratio of 36.69, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51. Ormat Technologies, Inc. has a twelve month low of $59.41 and a twelve month high of $84.30. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The company’s 50 day moving average is $66.79 and its 200 day moving average is $73.02.

Ormat Technologies Dividend Announcement

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 $0.12 dividend. The ex-dividend date is 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 currently 23.53%.

Insiders Place Their Bets

In related news, Director David Granot sold 1,666 shares of the company’s stock in a transaction on 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 transaction, the director now owns 1,910 shares in the company, valued at approximately $131,790. This represents a 46.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by company insiders.

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.