Impax Asset Management Group plc Boosts Stake in Ormat Technologies, Inc. (NYSE:ORA)

Impax Asset Management Group plc increased its stake in Ormat Technologies, Inc. (NYSE:ORA) by 7.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,415,479 shares of the energy company’s stock after purchasing an additional 163,505 shares during the quarter. Impax Asset Management Group plc owned approximately 3.99% of Ormat Technologies worth $162,586,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ORA. Pacer Advisors Inc. raised its stake in shares of Ormat Technologies by 2.0% in the fourth quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company’s stock worth $544,000 after buying an additional 160 shares during the period. Blue Trust Inc. increased its holdings in Ormat Technologies by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock worth $26,000 after acquiring an additional 229 shares in the last quarter. Versant Capital Management Inc raised its stake in Ormat Technologies by 132.4% during the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock worth $27,000 after acquiring an additional 229 shares during the period. Caprock Group LLC lifted its holdings 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 purchasing an additional 235 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in Ormat Technologies by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 6,221 shares of the energy company’s stock valued at $478,000 after purchasing an additional 420 shares in the last quarter. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Ormat Technologies Stock Down 0.8 %

Shares of ORA stock opened at $68.74 on Monday. The company’s fifty day simple moving average is $66.53 and its two-hundred day simple moving average is $73.33. Ormat Technologies, Inc. has a 52 week low of $59.41 and a 52 week high of $84.30. The stock has a market cap of $4.16 billion, a P/E ratio of 35.07, a PEG 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.

Analyst Ratings Changes

ORA has been the topic of several recent analyst reports. Roth Mkm restated a “buy” rating and set a $92.00 price objective (up from $87.00) on shares of Ormat Technologies in a research report on Friday, November 8th. Piper Sandler initiated coverage on Ormat Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price target for the company. 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. Finally, Oppenheimer increased their target price on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Ormat Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $82.88.

Insider Buying and Selling

In related news, Director David Granot sold 1,256 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $82.00, for a total value of $102,992.00. Following the completion of the transaction, the director now owns 3,576 shares of the company’s stock, valued at approximately $293,232. This trade represents a 25.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Corp Orix sold 3,700,000 shares of the company’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 value of $278,906,000.00. Following the sale, the insider now owns 2,976,077 shares in the company, 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. 1.00% of the stock is owned by company 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.