Ormat Technologies, Inc. (NYSE:ORA) Holdings Boosted by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 783.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,788 shares of the energy company's stock after purchasing an additional 6,020 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Ormat Technologies were worth $460,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Ormat Technologies by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company's stock valued at $409,305,000 after purchasing an additional 274,540 shares in the last quarter. Impax Asset Management Group plc raised its holdings in Ormat Technologies by 7.3% in the fourth quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company's stock valued at $162,586,000 after buying an additional 163,505 shares during the period. Dimensional Fund Advisors LP lifted its position in Ormat Technologies by 6.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,586,479 shares of the energy company's stock valued at $107,440,000 after buying an additional 93,418 shares in the last quarter. Geode Capital Management LLC grew its stake in Ormat Technologies by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 1,373,426 shares of the energy company's stock worth $93,029,000 after buying an additional 72,135 shares during the period. Finally, Norges Bank acquired a new stake in shares of Ormat Technologies in the fourth quarter worth $62,851,000. Institutional investors and hedge funds own 95.49% of the company's stock.

Ormat Technologies Stock Performance

NYSE:ORA traded up $0.44 during mid-day trading on Tuesday, hitting $73.66. The stock had a trading volume of 177,250 shares, compared to its average volume of 483,655. Ormat Technologies, Inc. has a 52 week low of $61.58 and a 52 week high of $84.30. 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 stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 37.63, a P/E/G ratio of 3.18 and a beta of 0.52. The company has a 50 day simple moving average of $70.42 and a 200-day simple moving average of $71.99.

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 given a dividend of $0.12 per share. 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 0.65%. Ormat Technologies's dividend payout ratio (DPR) is 23.53%.

Insider Transactions at Ormat Technologies

In related news, insider Jessica Woelfel sold 409 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total transaction of $29,509.35. Following the completion of the sale, the insider now directly owns 6,094 shares of the company's stock, valued at $439,682.10. This represents a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Granot sold 1,666 shares of the company's stock in a transaction 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 directly owns 1,910 shares in the company, valued at $131,790. This represents a 46.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,242 shares of company stock valued at $156,427. Company insiders own 0.56% of the company's stock.

Wall Street Analyst Weigh In

ORA has been the subject of a number of recent research reports. Robert W. Baird began coverage on Ormat Technologies in a research note on Thursday, March 13th. They issued a "neutral" rating and a $81.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a research report on Friday, February 28th. Baird R W raised shares of Ormat Technologies to a "hold" rating in a report on Thursday, March 13th. StockNews.com upgraded shares of Ormat Technologies from a "sell" rating to a "hold" rating in a report on Monday, April 7th. Finally, Jefferies Financial Group raised 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. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Ormat Technologies has an average rating of "Hold" and an average target price of $83.56.

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.