Catalyst Funds Management Pty Ltd Purchases 3,600 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Catalyst Funds Management Pty Ltd grew its position in Ormat Technologies, Inc. (NYSE:ORA) by 900.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,000 shares of the energy company’s stock after purchasing an additional 3,600 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in Ormat Technologies were worth $271,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in Ormat Technologies by 5.6% during the fourth quarter. Principal Financial Group Inc. now owns 131,906 shares of the energy company’s stock worth $8,933,000 after acquiring an additional 7,025 shares in the last quarter. Chesapeake Capital Corp IL bought a new stake in Ormat Technologies during the third quarter worth about $522,000. RWC Asset Management LLP raised its holdings in Ormat Technologies by 348.9% during the fourth quarter. RWC Asset Management LLP now owns 165,599 shares of the energy company’s stock worth $11,214,000 after acquiring an additional 128,705 shares in the last quarter. Empowered Funds LLC bought a new stake in Ormat Technologies during the fourth quarter worth about $265,000. Finally, Handelsbanken Fonder AB raised its holdings in Ormat Technologies by 896.6% during the fourth quarter. Handelsbanken Fonder AB now owns 155,906 shares of the energy company’s stock worth $10,558,000 after acquiring an additional 140,262 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Jefferies Financial Group upgraded Ormat Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $73.00 to $78.00 in a research note on Thursday, February 20th. Piper Sandler assumed coverage on Ormat Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price objective on the stock. Robert W. Baird assumed coverage on Ormat Technologies in a research note on Thursday. They issued a “neutral” rating and a $81.00 price objective on the stock. Finally, Baird R W upgraded Ormat Technologies to a “hold” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Ormat Technologies has an average rating of “Hold” and a consensus price target of $82.67.

Insider Buying and Selling

In other Ormat Technologies news, Director David Granot sold 1,666 shares of the firm’s 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 owns 1,910 shares of the company’s stock, valued at approximately $131,790. This trade represents a 46.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

Ormat Technologies Trading Up 0.6 %

Shares of NYSE:ORA opened at $71.92 on Monday. The company has a market capitalization of $4.35 billion, a P/E ratio of 36.69, a P/E/G 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 company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. The business’s 50 day simple moving average is $66.85 and its 200 day simple moving average is $72.98.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Wednesday, March 12th. Ormat Technologies’s dividend payout ratio is currently 23.53%.

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.