KLP Kapitalforvaltning AS Acquires Shares of 87,900 Ormat Technologies, Inc. (NYSE:ORA)

KLP Kapitalforvaltning AS acquired a new position in shares of Ormat Technologies, Inc. (NYSE:ORA) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 87,900 shares of the energy company’s stock, valued at approximately $5,953,000. KLP Kapitalforvaltning AS owned approximately 0.15% of Ormat Technologies as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings in shares of Ormat Technologies by 132.4% during the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock worth $27,000 after acquiring an additional 229 shares during the period. AlphaQuest LLC raised its stake in Ormat Technologies by 4,691.7% during the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock worth $39,000 after purchasing an additional 563 shares during the period. Mendota Financial Group LLC acquired a new position in Ormat Technologies in the 4th quarter valued at about $98,000. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Ormat Technologies during the 4th quarter valued at approximately $182,000. Finally, Raymond James Financial Inc. purchased a new position in Ormat Technologies in the fourth quarter worth approximately $204,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, Director David Granot sold 1,666 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total transaction of $114,954.00. Following the transaction, the director now owns 1,910 shares in the company, valued at approximately $131,790. The trade was a 46.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jessica Woelfel sold 409 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were 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 of the company’s stock, valued at approximately $439,682.10. This trade represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,242 shares of company stock worth $156,427. Corporate insiders own 1.00% of the company’s stock.

Ormat Technologies Stock Up 0.1 %

Ormat Technologies stock opened at $71.24 on Wednesday. Ormat Technologies, Inc. has a 1-year low of $59.41 and a 1-year high of $84.30. The stock has a market cap of $4.31 billion, a PE ratio of 36.35, a P/E/G 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. The stock’s fifty day moving average is $67.42 and its two-hundred day moving average is $72.90.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Wednesday, March 12th. Ormat Technologies’s payout ratio is 23.53%.

Analyst Ratings Changes

Several brokerages have recently commented on ORA. Jefferies Financial Group upped their price target on Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday. Robert W. Baird assumed coverage on shares of Ormat Technologies in a research report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price target for the company. Piper Sandler initiated 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. Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. raised their price target on Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $83.56.

Ormat Technologies Company 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.