Ontario Teachers Pension Plan Board Takes $588,000 Position in Ormat Technologies, Inc. (NYSE:ORA)

Ontario Teachers Pension Plan Board bought a new position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 8,688 shares of the energy company's stock, valued at approximately $588,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position 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 valued at $8,933,000 after buying an additional 7,025 shares during the period. Vanguard Group Inc. grew its stake in shares of Ormat Technologies by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company's stock worth $409,305,000 after acquiring an additional 274,540 shares during the last quarter. Element Capital Management LLC bought a new position in shares of Ormat Technologies during the fourth quarter valued at $2,113,000. Daiwa Securities Group Inc. purchased a new position in shares of Ormat Technologies in the 4th quarter worth about $752,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Ormat Technologies by 6.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 618,937 shares of the energy company's stock worth $41,914,000 after purchasing an additional 39,689 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ORA shares. Baird R W upgraded shares of Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. Jefferies Financial Group increased their target price on Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, March 25th. Robert W. Baird began coverage on Ormat Technologies in a research report on Thursday, March 13th. They set a "neutral" rating and a $81.00 price objective on the stock. JPMorgan Chase & Co. raised their price target on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a report on Friday, February 28th. Finally, StockNews.com raised shares of Ormat Technologies from a "sell" rating to a "hold" rating in a report on Monday, April 7th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $83.56.

Ormat Technologies Stock Performance

Shares of NYSE ORA traded up $1.53 during trading on Tuesday, hitting $72.30. The company had a trading volume of 98,948 shares, compared to its average volume of 485,563. The stock has a 50 day simple moving average of $69.58 and a 200 day simple moving average of $72.09. The firm has a market capitalization of $4.38 billion, a P/E ratio of 36.97, a price-to-earnings-growth ratio of 3.18 and a beta of 0.52. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. Ormat Technologies, Inc. has a 12 month low of $61.58 and a 12 month high of $84.30.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.66%. Ormat Technologies's dividend payout ratio (DPR) is presently 23.53%.

Insider Activity

In other Ormat Technologies news, insider Jessica Woelfel sold 409 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total transaction of $29,509.35. Following the sale, the insider now directly owns 6,094 shares of the company's stock, valued at $439,682.10. This trade represents a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Granot sold 1,666 shares of the stock in a transaction dated 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 $131,790. This represents a 46.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,242 shares of company stock worth $156,427 in the last three months. Company insiders own 0.56% 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.