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

Cibc World Markets Corp acquired a new position in Ormat Technologies, Inc. (NYSE:ORA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,401 shares of the energy company’s stock, valued at approximately $366,000.

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in Ormat Technologies by 5.6% during the 4th quarter. Principal Financial Group Inc. now owns 131,906 shares of the energy company’s stock worth $8,933,000 after buying an additional 7,025 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Ormat Technologies by 6.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 618,937 shares of the energy company’s stock valued at $41,914,000 after purchasing an additional 39,689 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in Ormat Technologies in the fourth quarter valued at approximately $752,000. RWC Asset Management LLP increased its position in shares of Ormat Technologies by 348.9% during the 4th quarter. RWC Asset Management LLP now owns 165,599 shares of the energy company’s stock worth $11,214,000 after purchasing an additional 128,705 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of Ormat Technologies during the 4th quarter worth approximately $265,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Piper Sandler assumed coverage on shares of Ormat Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $78.00 target price for the company. Robert W. Baird assumed coverage on shares of Ormat Technologies in a research report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price objective for the company. Jefferies Financial Group raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $73.00 to $78.00 in a report on Thursday, February 20th. Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. boosted 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. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $82.67.

Ormat Technologies Trading Down 0.5 %

Shares of ORA stock opened at $71.67 on Monday. Ormat Technologies, Inc. has a 12-month low of $59.41 and a 12-month high of $84.30. The company has a market capitalization of $4.34 billion, a PE ratio of 36.57, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51. The firm has a 50 day moving average price of $67.23 and a two-hundred day moving average price of $72.93. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73.

Ormat Technologies Announces Dividend

The company also recently declared 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 of this dividend is Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 0.67%. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.53%.

Insider Buying and Selling at Ormat Technologies

In other news, insider Jessica Woelfel sold 409 shares of Ormat Technologies stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total value of $29,509.35. Following the completion of the sale, the insider now directly owns 6,094 shares in the company, valued at approximately $439,682.10. The trade was a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Granot sold 1,666 shares of the stock in a transaction on 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 in the company, valued at approximately $131,790. This trade represents a 46.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.