Handelsbanken Fonder AB Buys 140,262 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Handelsbanken Fonder AB increased its stake in Ormat Technologies, Inc. (NYSE:ORA) by 896.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,906 shares of the energy company’s stock after purchasing an additional 140,262 shares during the period. Handelsbanken Fonder AB’s holdings in Ormat Technologies were worth $10,558,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. boosted its position in Ormat Technologies by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock valued at $26,000 after buying an additional 229 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Ormat Technologies in the third quarter valued at about $1,113,000. State of Alaska Department of Revenue boosted its holdings in Ormat Technologies by 7.2% in 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 acquiring an additional 420 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in Ormat Technologies by 4.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 26,554 shares of the energy company’s stock worth $2,043,000 after purchasing an additional 1,125 shares during the period. Finally, Empower Advisory Group LLC raised its holdings in Ormat Technologies by 4.5% during the 3rd quarter. Empower Advisory Group LLC now owns 194,680 shares of the energy company’s stock worth $14,979,000 after purchasing an additional 8,403 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Stock Down 0.8 %

Shares of NYSE ORA opened at $68.74 on Friday. Ormat Technologies, Inc. has a 52-week low of $59.41 and a 52-week high of $84.30. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. The stock has a market cap of $4.16 billion, a P/E ratio of 35.07, a P/E/G ratio of 3.18 and a beta of 0.57. The firm has a 50 day moving average price of $66.53 and a 200 day moving average price of $73.33.

Insider Transactions at Ormat Technologies

In other news, major shareholder Corp Orix sold 3,700,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $75.38, for a total transaction of $278,906,000.00. Following the sale, the insider now owns 2,976,077 shares of the company’s stock, valued at $224,336,684.26. This trade represents a 55.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David Granot sold 1,256 shares of Ormat Technologies 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 transaction, the director now owns 3,576 shares in the company, valued at $293,232. This trade represents a 25.99 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ORA. 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 target price on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $92.00 price objective (up from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Jefferies Financial Group upgraded 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 research report on Thursday. Finally, Oppenheimer increased their price target on Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Ormat Technologies has a consensus rating of “Moderate Buy” and an average target price of $82.88.

Ormat Technologies Company 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.