Securian Asset Management Inc. Raises Position in Ormat Technologies, Inc. (NYSE:ORA)

Securian Asset Management Inc. increased its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 5.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,354 shares of the energy company’s stock after buying an additional 212 shares during the period. Securian Asset Management Inc.’s holdings in Ormat Technologies were worth $295,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Natural Investments LLC purchased a new stake in shares of Ormat Technologies in the fourth quarter worth $1,346,000. Inspire Advisors LLC purchased a new stake in Ormat Technologies during the fourth quarter valued at about $252,000. Daiwa Securities Group Inc. purchased a new stake in Ormat Technologies during the fourth quarter valued at about $752,000. AlphaQuest LLC raised its position in Ormat Technologies by 4,691.7% during the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock valued at $39,000 after purchasing an additional 563 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Ormat Technologies during the fourth quarter valued at about $182,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Stock Down 0.8 %

NYSE ORA opened at $72.10 on Wednesday. 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 has a market capitalization of $4.36 billion, a PE ratio of 36.79, a PEG ratio of 3.18 and a beta of 0.51. Ormat Technologies, Inc. has a 1 year low of $59.41 and a 1 year high of $84.30. The business’s 50-day moving average is $66.97 and its 200 day moving average is $72.96.

Ormat Technologies Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have weighed in on ORA. JPMorgan Chase & Co. raised 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 set a “neutral” rating and a $78.00 price target on the stock. Robert W. Baird began coverage on Ormat Technologies in a research report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price target on the stock. Baird R W upgraded Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. Finally, Jefferies Financial Group upgraded Ormat Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $73.00 to $78.00 in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $82.67.

Insider Buying and Selling

In related news, Director David Granot sold 1,666 shares of the firm’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 sale, the director now directly owns 1,910 shares of the company’s stock, valued at $131,790. This trade represents a 46.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by insiders.

Ormat Technologies 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.