Barclays PLC Sells 821,700 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Barclays PLC reduced its stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 86.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,218 shares of the energy company's stock after selling 821,700 shares during the period. Barclays PLC owned approximately 0.22% of Ormat Technologies worth $8,818,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its stake in Ormat Technologies by 2.0% during the fourth quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company's stock valued at $544,000 after buying an additional 160 shares during the period. Bailard Inc. lifted its stake in 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 last quarter. Securian Asset Management Inc. boosted its holdings in Ormat Technologies by 5.1% during the 4th quarter. Securian Asset Management Inc. now owns 4,354 shares of the energy company's stock valued at $295,000 after acquiring an additional 212 shares during the period. Versant Capital Management Inc grew its holdings in shares of Ormat Technologies by 132.4% in the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company's stock worth $27,000 after purchasing an additional 229 shares during the last quarter. Finally, Caprock Group LLC grew its holdings 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. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Ormat Technologies Stock Performance

NYSE ORA traded up $0.40 during trading hours on Friday, hitting $73.12. 264,000 shares of the company's stock traded hands, compared to its average volume of 485,837. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $4.43 billion, a P/E ratio of 37.31, a P/E/G ratio of 3.18 and a beta of 0.52. Ormat Technologies, Inc. has a 52 week low of $61.58 and a 52 week high of $84.30. The business's fifty day moving average price is $70.28 and its two-hundred day moving average price is $72.03.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.66%. The ex-dividend date was Wednesday, March 12th. Ormat Technologies's dividend payout ratio is presently 23.53%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ORA shares. 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 research note on Friday, February 28th. Robert W. Baird assumed coverage on Ormat Technologies in a research report on Thursday, March 13th. They issued a "neutral" rating and a $81.00 price objective on the stock. StockNews.com raised Ormat Technologies from a "sell" rating to a "hold" rating in a report on Monday, April 7th. Baird R W raised Ormat Technologies to a "hold" rating in a report on Thursday, March 13th. Finally, Jefferies Financial Group lifted their price objective on Ormat Technologies from $78.00 to $86.00 and gave the stock a "buy" rating in a report on Tuesday, March 25th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $83.56.

Insiders Place Their Bets

In other Ormat Technologies news, 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 completion of the sale, the director now owns 1,910 shares in the company, valued at approximately $131,790. This represents a 46.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jessica Woelfel sold 409 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total value of $29,509.35. Following the sale, the insider now directly owns 6,094 shares in the company, valued at approximately $439,682.10. This represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,242 shares of company stock worth $156,427 over the last quarter. 0.56% of the stock is currently owned by corporate 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.