Xponance Inc. Buys 1,462 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Xponance Inc. increased its position in Ormat Technologies, Inc. (NYSE:ORA) by 20.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,757 shares of the energy company’s stock after acquiring an additional 1,462 shares during the quarter. Xponance Inc.’s holdings in Ormat Technologies were worth $593,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ORA. Pacer Advisors Inc. lifted its stake in Ormat Technologies by 2.0% in the 4th quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company’s stock worth $544,000 after purchasing an additional 160 shares in the last quarter. Bailard Inc. increased its holdings in shares of Ormat Technologies by 0.9% in the fourth quarter. Bailard Inc. now owns 19,446 shares of the energy company’s stock worth $1,317,000 after purchasing an additional 169 shares during the period. Securian Asset Management Inc. raised its position in shares of Ormat Technologies by 5.1% in the fourth quarter. Securian Asset Management Inc. now owns 4,354 shares of the energy company’s stock worth $295,000 after buying an additional 212 shares in the last quarter. Versant Capital Management Inc boosted its stake in Ormat Technologies by 132.4% during the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock valued at $27,000 after buying an additional 229 shares during the period. Finally, Caprock Group LLC increased its stake in Ormat Technologies by 4.0% in the 4th quarter. Caprock Group LLC now owns 6,080 shares of the energy company’s stock worth $412,000 after acquiring an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Stock Up 0.1 %

Shares of NYSE:ORA opened at $71.24 on Wednesday. The stock’s 50-day moving average is $67.42 and its 200 day moving average is $72.90. The company has a market cap of $4.31 billion, a PE ratio of 36.35, a P/E/G ratio of 3.18 and a beta of 0.51. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. Ormat Technologies, Inc. has a 1 year low of $59.41 and a 1 year high of $84.30.

Ormat Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ORA. Baird R W upgraded Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. Piper Sandler initiated coverage on shares of Ormat Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $78.00 target price for the company. JPMorgan Chase & Co. increased their price target on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Robert W. Baird initiated coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price objective for the company. Finally, Jefferies Financial Group upped their target price on Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $83.56.

Insider Buying and Selling

In other Ormat Technologies news, insider Jessica Woelfel sold 409 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 6,094 shares in the company, valued at approximately $439,682.10. This represents a 6.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Granot sold 1,666 shares of the firm’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 value of $114,954.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold 2,242 shares of company stock valued at $156,427 over the last quarter. 1.00% of the stock is owned by company insiders.

Ormat Technologies 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.