New Age Alpha Advisors LLC Takes Position in 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, Holdings Channel reports. The firm bought 34,523 shares of the energy company’s stock, valued at approximately $2,338,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in Ormat Technologies by 5.6% during the fourth quarter. Principal Financial Group Inc. now owns 131,906 shares of the energy company’s stock worth $8,933,000 after buying an additional 7,025 shares during the period. Element Capital Management LLC purchased a new stake in Ormat Technologies during the 4th quarter worth $2,113,000. Daiwa Securities Group Inc. acquired a new stake in Ormat Technologies in the 4th quarter valued at $752,000. Charles Schwab Investment Management Inc. raised its position 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 period. Finally, RWC Asset Management LLP lifted its stake in shares of Ormat Technologies by 348.9% during the fourth quarter. RWC Asset Management LLP now owns 165,599 shares of the energy company’s stock worth $11,214,000 after purchasing an additional 128,705 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ORA. Baird R W upgraded Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. JPMorgan Chase & Co. increased their price objective 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. Robert W. Baird began coverage on shares of Ormat Technologies in a research note on Thursday, March 13th. They issued a “neutral” rating and a $81.00 target price for the company. Jefferies Financial Group raised their price target on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, March 25th. Finally, Piper Sandler assumed coverage on shares of Ormat Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price objective on the stock. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $83.56.

Insider Activity at Ormat Technologies

In other news, insider Jessica Woelfel sold 409 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total value of $29,509.35. Following the completion of the sale, the insider now directly owns 6,094 shares in the company, valued at approximately $439,682.10. The trade was a 6.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Granot sold 1,666 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total value of $114,954.00. Following the transaction, the director now owns 1,910 shares in the company, valued at $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 sold a total of 2,242 shares of company stock valued at $156,427 over the last three months. 1.00% of the stock is owned by insiders.

Ormat Technologies Trading Up 0.6 %

NYSE ORA opened at $70.55 on Friday. The company has a market capitalization 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 has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. Ormat Technologies, Inc. has a 12 month low of $59.41 and a 12 month high of $84.30. The company’s fifty day moving average price is $67.59 and its two-hundred day moving average price is $72.85.

Ormat Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were paid a $0.12 dividend. 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 23.53%.

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.