Corebridge Financial Inc. Raises Stock Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Corebridge Financial Inc. boosted its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,305 shares of the energy company’s stock after acquiring an additional 1,219 shares during the quarter. Corebridge Financial Inc. owned 0.15% of Ormat Technologies worth $6,319,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Ormat Technologies by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company’s stock valued at $409,305,000 after purchasing an additional 274,540 shares during the period. Impax Asset Management Group plc lifted its holdings in Ormat Technologies by 7.3% during the 4th quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company’s stock valued at $162,586,000 after buying an additional 163,505 shares in the last quarter. Geode Capital Management LLC boosted its position in Ormat Technologies by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,301,291 shares of the energy company’s stock valued at $100,140,000 after buying an additional 22,714 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Ormat Technologies by 6.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 618,937 shares of the energy company’s stock worth $41,914,000 after acquiring an additional 39,689 shares in the last quarter. Finally, Y.D. More Investments Ltd increased its position in shares of Ormat Technologies by 13.2% during the fourth quarter. Y.D. More Investments Ltd now owns 524,416 shares of the energy company’s stock worth $36,030,000 after acquiring an additional 61,236 shares during the period. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Trading Up 0.6 %

NYSE:ORA opened at $70.55 on Friday. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 36.00, a PEG ratio of 3.18 and a beta of 0.51. Ormat Technologies, Inc. has a 52 week low of $59.41 and a 52 week high of $84.30. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average of $67.59 and a 200 day moving average of $72.84.

Ormat Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were given a $0.12 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.68%. Ormat Technologies’s payout ratio is 23.53%.

Wall Street Analysts Forecast Growth

ORA has been the subject of a number of research reports. Baird R W upgraded Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. JPMorgan Chase & Co. increased 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. Robert W. Baird began coverage on Ormat Technologies in a research note on Thursday, March 13th. They set a “neutral” rating and a $81.00 price target on the stock. Piper Sandler began coverage on shares of Ormat Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price objective for the company. Finally, Jefferies Financial Group boosted their price target on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Ormat Technologies has a consensus rating of “Hold” and a consensus target price of $83.56.

Insider Buying and Selling

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 shares were sold at an average price of $69.00, for a total transaction of $114,954.00. Following the sale, the director now owns 1,910 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this link. Also, insider Jessica Woelfel sold 409 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total transaction of $29,509.35. Following the completion of the transaction, the insider now directly owns 6,094 shares of the company’s stock, valued at approximately $439,682.10. This represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,242 shares of company stock worth $156,427 in the last ninety days. 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.