Altshuler Shaham Ltd Buys 10,732 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Altshuler Shaham Ltd grew its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 215.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,722 shares of the energy company’s stock after acquiring an additional 10,732 shares during the quarter. Altshuler Shaham Ltd’s holdings in Ormat Technologies were worth $1,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Ontario Teachers Pension Plan Board purchased a new position in Ormat Technologies during the fourth quarter worth about $588,000. Guggenheim Capital LLC lifted its position in shares of Ormat Technologies by 18.0% during the 4th quarter. Guggenheim Capital LLC now owns 7,087 shares of the energy company’s stock worth $480,000 after buying an additional 1,080 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Ormat Technologies in the 4th quarter worth approximately $375,000. Summit Investment Advisors Inc. grew its holdings in shares of Ormat Technologies by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 17,549 shares of the energy company’s stock valued at $1,188,000 after acquiring an additional 1,121 shares in the last quarter. Finally, Sterling Capital Management LLC increased its position in shares of Ormat Technologies by 897.8% during the fourth quarter. Sterling Capital Management LLC now owns 1,856 shares of the energy company’s stock valued at $126,000 after acquiring an additional 1,670 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ORA shares. JPMorgan Chase & Co. boosted their price objective on Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. StockNews.com raised shares of Ormat Technologies from a “sell” rating to a “hold” rating in a report on Monday, April 7th. Jefferies Financial Group raised their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, March 25th. Piper Sandler initiated coverage on shares of Ormat Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $78.00 target price on the stock. Finally, Robert W. Baird assumed coverage on shares of Ormat Technologies in a research note on Thursday, March 13th. They set a “neutral” rating and a $81.00 price target for the company. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $83.56.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, insider Jessica Woelfel sold 409 shares of Ormat Technologies 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 completion of the transaction, the insider now owns 6,094 shares of the company’s stock, valued at $439,682.10. The trade was a 6.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David Granot sold 1,666 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $69.00, for a total value of $114,954.00. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold 2,242 shares of company stock valued at $156,427 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

Ormat Technologies Price Performance

ORA opened at $70.32 on Thursday. The firm has a 50-day moving average price of $69.12 and a 200-day moving average price of $72.25. Ormat Technologies, Inc. has a twelve month low of $59.57 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 has a market capitalization of $4.26 billion, a price-to-earnings ratio of 35.88, a PEG ratio of 3.18 and a beta of 0.52.

Ormat Technologies Dividend Announcement

The firm also recently disclosed 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 is 23.53%.

About Ormat Technologies

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.