Ormat Technologies, Inc. (NYSE:ORA) Shares Sold by Clal Insurance Enterprises Holdings Ltd

Clal Insurance Enterprises Holdings Ltd lessened its position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,248,499 shares of the energy company's stock after selling 33,700 shares during the quarter. Ormat Technologies accounts for 1.4% of Clal Insurance Enterprises Holdings Ltd's portfolio, making the stock its 21st largest position. Clal Insurance Enterprises Holdings Ltd owned approximately 3.72% of Ormat Technologies worth $152,546,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of Ormat Technologies by 5.6% during the 4th 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 last quarter. Chesapeake Capital Corp IL purchased a new position in Ormat Technologies during the third quarter valued at approximately $522,000. RWC Asset Management LLP lifted its holdings in Ormat Technologies by 348.9% in the fourth quarter. RWC Asset Management LLP now owns 165,599 shares of the energy company's stock valued at $11,214,000 after acquiring an additional 128,705 shares during the period. Empowered Funds LLC acquired a new position in Ormat Technologies in the fourth quarter valued at approximately $265,000. Finally, Handelsbanken Fonder AB boosted its position in Ormat Technologies by 896.6% in the 4th quarter. Handelsbanken Fonder AB now owns 155,906 shares of the energy company's stock worth $10,558,000 after purchasing an additional 140,262 shares in the last quarter. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of Ormat Technologies from a "hold" rating to a "buy" rating and boosted their target price for the company from $73.00 to $78.00 in a research note on Thursday, February 20th. JPMorgan Chase & Co. upped their price objective 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. Roth Mkm reissued a "buy" rating and set a $92.00 target price (up from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Oppenheimer upped their price target on Ormat Technologies from $86.00 to $91.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Finally, Piper Sandler started coverage on Ormat Technologies in a research report on Thursday, December 19th. They set a "neutral" rating and a $78.00 price target on the stock. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $82.88.

Ormat Technologies Price Performance

Ormat Technologies stock traded down $0.05 during midday trading on Wednesday, reaching $69.57. The company had a trading volume of 442,645 shares, compared to its average volume of 465,245. 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 12-month low of $59.41 and a 12-month high of $84.30. The company has a market capitalization of $4.21 billion, a P/E ratio of 35.49, a P/E/G ratio of 3.18 and a beta of 0.57. The firm's fifty day simple moving average is $66.47 and its 200-day simple moving average is $73.14.

Ormat Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Wednesday, March 12th. Ormat Technologies's payout ratio is 23.53%.

Insider Buying and Selling

In other news, Director David Granot sold 1,666 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total transaction of $114,954.00. Following the transaction, the director now directly owns 1,910 shares in the company, valued at $131,790. The trade was a 46.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Corp Orix sold 3,700,000 shares of the company's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $75.38, for a total value of $278,906,000.00. Following the completion of 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 disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

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.