Natural Investments LLC Makes New Investment in Ormat Technologies, Inc. (NYSE:ORA)

Natural Investments LLC purchased a new position in Ormat Technologies, Inc. (NYSE:ORA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,881 shares of the energy company’s stock, valued at approximately $1,346,000.

Several other institutional investors have also added to or reduced their stakes in the business. Pacer Advisors Inc. raised its position in Ormat Technologies by 2.0% during the fourth quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company’s stock valued at $544,000 after acquiring an additional 160 shares in the last quarter. Bailard Inc. raised its position in Ormat Technologies by 0.9% during the fourth quarter. Bailard Inc. now owns 19,446 shares of the energy company’s stock valued at $1,317,000 after acquiring an additional 169 shares in the last quarter. Versant Capital Management Inc raised its position in Ormat Technologies by 132.4% during the fourth 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 in the last quarter. Caprock Group LLC raised its position in 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 in the last quarter. Finally, Victory Capital Management Inc. raised its position in Ormat Technologies by 1.8% during the fourth quarter. Victory Capital Management Inc. now owns 18,896 shares of the energy company’s stock valued at $1,280,000 after acquiring an additional 336 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Stock Performance

NYSE ORA opened at $72.99 on Tuesday. The stock’s fifty day moving average is $66.51 and its two-hundred day moving average is $73.06. The firm has a market capitalization of $4.42 billion, a P/E ratio of 37.24, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. Ormat Technologies, Inc. has a fifty-two week low of $59.41 and a fifty-two week high of $84.30.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Wednesday, March 12th. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.53%.

Wall Street Analyst Weigh In

ORA has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price target on Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Piper Sandler began coverage on Ormat Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price objective for the company. Finally, Jefferies Financial Group upgraded Ormat Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the company from $73.00 to $78.00 in a research report on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $82.88.

Insider Activity

In related news, 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 value of $114,954.00. Following the completion of the sale, the director now directly owns 1,910 shares of the company’s stock, valued at $131,790. This represents a 46.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Corp Orix sold 3,700,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were 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 approximately $224,336,684.26. This trade represents a 55.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

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.