Cibc World Markets Corp Makes New $366,000 Investment in Ormat Technologies, Inc. (NYSE:ORA)

Cibc World Markets Corp purchased a new stake in Ormat Technologies, Inc. (NYSE:ORA) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 5,401 shares of the energy company’s stock, valued at approximately $366,000.

Several other hedge funds also recently modified their holdings of ORA. Pacer Advisors Inc. raised its position in Ormat Technologies by 2.0% in the fourth quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company’s stock valued at $544,000 after purchasing an additional 160 shares during the last quarter. Bailard Inc. boosted its position in Ormat Technologies by 0.9% during the 4th quarter. Bailard Inc. now owns 19,446 shares of the energy company’s stock worth $1,317,000 after buying an additional 169 shares during the period. Securian Asset Management Inc. grew 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 acquiring an additional 212 shares during the last quarter. Versant Capital Management Inc increased its position in Ormat Technologies by 132.4% in the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock valued at $27,000 after acquiring an additional 229 shares during the period. Finally, Caprock Group LLC raised its stake in shares of Ormat Technologies by 4.0% during the fourth quarter. Caprock Group LLC now owns 6,080 shares of the energy company’s stock valued at $412,000 after acquiring an additional 235 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Stock Performance

Shares of ORA opened at $71.67 on Monday. Ormat Technologies, Inc. has a one year low of $59.41 and a one year high of $84.30. The company has a market cap of $4.34 billion, a PE ratio of 36.57, a P/E/G ratio of 3.18 and a beta of 0.51. The stock has a 50-day moving average of $67.23 and a 200-day moving average of $72.93. 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 Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ORA shares. Baird R W raised Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. JPMorgan Chase & Co. raised their price target on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Jefferies Financial Group raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $73.00 to $78.00 in a research note on Thursday, February 20th. 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. Finally, Robert W. Baird initiated 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 on the stock. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $82.67.

Insider Transactions at Ormat Technologies

In other news, insider Jessica Woelfel sold 409 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total transaction 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 $439,682.10. The trade was a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David Granot sold 1,666 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $69.00, for a total transaction of $114,954.00. Following the completion of the sale, 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 insiders.

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.