Erste Asset Management GmbH Has $19.60 Million Stock Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Erste Asset Management GmbH raised its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 17.0% in the 4th quarter, HoldingsChannel reports. The fund owned 288,487 shares of the energy company’s stock after acquiring an additional 41,915 shares during the period. Erste Asset Management GmbH’s holdings in Ormat Technologies were worth $19,597,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Swiss National Bank lifted its holdings in shares of Ormat Technologies by 0.8% during the fourth quarter. Swiss National Bank now owns 107,034 shares of the energy company’s stock worth $7,248,000 after purchasing an additional 800 shares during the period. Securian Asset Management Inc. lifted its holdings in Ormat Technologies by 5.1% during the 4th quarter. Securian Asset Management Inc. now owns 4,354 shares of the energy company’s stock worth $295,000 after buying an additional 212 shares during the period. Natural Investments LLC bought a new stake in shares of Ormat Technologies in the 4th quarter valued at about $1,346,000. Inspire Advisors LLC acquired a new stake in shares of Ormat Technologies in the fourth quarter valued at about $252,000. Finally, Daiwa Securities Group Inc. bought a new position in shares of Ormat Technologies during the fourth quarter worth about $752,000. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Trading Up 0.2 %

NYSE:ORA opened at $71.23 on Thursday. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 36.34, a PEG ratio of 3.18 and a beta of 0.51. The firm has a fifty day simple moving average of $66.67 and a two-hundred day simple moving average of $73.04. 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, Inc. has a 12 month low of $59.41 and a 12 month high of $84.30.

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 issued a $0.12 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 0.67%. Ormat Technologies’s payout ratio is currently 23.53%.

Insider Buying and Selling

In other news, major shareholder Corp Orix sold 3,700,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $75.38, for a total value of $278,906,000.00. Following the completion of the sale, the insider now directly owns 2,976,077 shares of the company’s stock, valued at $224,336,684.26. This represents a 55.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David Granot sold 1,666 shares of the firm’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 owns 1,910 shares in the company, valued at $131,790. This represents a 46.59 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on ORA. JPMorgan Chase & Co. upped their target price on Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Jefferies Financial Group upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $73.00 to $78.00 in a research report on Thursday, February 20th. Finally, Piper Sandler began coverage on shares of Ormat Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Ormat Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.88.

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.