Impax Asset Management Group plc Raises Stock Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Impax Asset Management Group plc boosted its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,415,479 shares of the energy company’s stock after acquiring an additional 163,505 shares during the quarter. Impax Asset Management Group plc’s holdings in Ormat Technologies were worth $162,586,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. lifted its position in shares of Ormat Technologies by 180.3% during the third quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock worth $26,000 after purchasing an additional 229 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Ormat Technologies during the 3rd quarter valued at about $1,113,000. State of Alaska Department of Revenue lifted its holdings in Ormat Technologies by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,221 shares of the energy company’s stock valued at $478,000 after buying an additional 420 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in Ormat Technologies by 4.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 26,554 shares of the energy company’s stock valued at $2,043,000 after buying an additional 1,125 shares during the period. Finally, Empower Advisory Group LLC grew its stake in Ormat Technologies by 4.5% in the 3rd quarter. Empower Advisory Group LLC now owns 194,680 shares of the energy company’s stock worth $14,979,000 after acquiring an additional 8,403 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Wall Street Analyst Weigh In

ORA has been the subject of several research analyst reports. Jefferies Financial Group raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $73.00 to $78.00 in a research note on Thursday. Oppenheimer raised their price objective on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Roth Mkm reiterated a “buy” rating and issued a $92.00 target price (up from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Finally, Piper Sandler started coverage on Ormat Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $78.00 price target on the stock. Four research 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $82.88.

Ormat Technologies Stock Down 0.8 %

Ormat Technologies stock opened at $68.74 on Monday. Ormat Technologies, Inc. has a twelve month low of $59.41 and a twelve month high of $84.30. The business has a fifty day moving average of $66.53 and a two-hundred day moving average of $73.33. The firm has a market cap of $4.16 billion, a P/E ratio of 35.07, a P/E/G ratio of 3.18 and a beta of 0.57. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73.

Insider Buying and Selling

In related news, major shareholder Corp Orix sold 3,700,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $75.38, for a total transaction of $278,906,000.00. Following the completion of the transaction, the insider now owns 2,976,077 shares in the company, valued at $224,336,684.26. The trade was a 55.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David Granot sold 1,256 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $82.00, for a total transaction of $102,992.00. Following the sale, the director now directly owns 3,576 shares of the company’s stock, valued at $293,232. The trade was a 25.99 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

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.