31,200 Shares in Ormat Technologies, Inc. (NYSE:ORA) Bought by Element Capital Management LLC

Element Capital Management LLC bought a new stake in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 31,200 shares of the energy company's stock, valued at approximately $2,113,000. Ormat Technologies makes up approximately 20.9% of Element Capital Management LLC's holdings, making the stock its 2nd biggest position. Element Capital Management LLC owned approximately 0.05% of Ormat Technologies at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in shares of Ormat Technologies by 5.6% during the fourth quarter. Principal Financial Group Inc. now owns 131,906 shares of the energy company's stock worth $8,933,000 after purchasing an additional 7,025 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in Ormat Technologies in the 4th quarter worth approximately $752,000. Charles Schwab Investment Management Inc. grew its holdings in Ormat Technologies by 6.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 618,937 shares of the energy company's stock valued at $41,914,000 after buying an additional 39,689 shares in the last quarter. RWC Asset Management LLP raised its position in shares of Ormat Technologies by 348.9% during the fourth quarter. RWC Asset Management LLP now owns 165,599 shares of the energy company's stock valued at $11,214,000 after buying an additional 128,705 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of Ormat Technologies in the fourth quarter worth $265,000. Institutional investors own 95.49% of the company's stock.

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Wall Street Analyst Weigh In

A number of analysts have issued reports on ORA shares. Robert W. Baird began coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They issued a "neutral" rating and a $81.00 price target on the stock. Piper Sandler assumed coverage on shares of Ormat Technologies in a research note on Thursday, December 19th. They issued a "neutral" rating and a $78.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on 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 upgraded Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. Finally, Jefferies Financial Group raised 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 report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Ormat Technologies has an average rating of "Hold" and a consensus price target of $82.67.

Insider Buying and Selling

In other Ormat Technologies news, insider Jessica Woelfel sold 409 shares of Ormat Technologies stock in a transaction 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 completion of the sale, the insider now directly owns 6,094 shares of the company's stock, valued at $439,682.10. The trade was a 6.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Granot sold 1,666 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $69.00, for a total transaction of $114,954.00. Following the completion of the sale, the director now directly owns 1,910 shares of the company's stock, valued at approximately $131,790. This trade represents a 46.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Ormat Technologies Trading Down 0.9 %

ORA traded down $0.61 during trading hours on Monday, reaching $71.03. 549,220 shares of the company's stock traded hands, compared to its average volume of 470,736. The firm has a 50-day moving average price of $67.32 and a 200 day moving average price of $72.91. The firm has a market capitalization of $4.30 billion, a PE ratio of 36.24, a PEG ratio of 3.18 and a beta of 0.51. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. Ormat Technologies, Inc. has a 52-week low of $59.41 and a 52-week high of $84.30.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Wednesday, March 12th. Ormat Technologies's payout ratio is presently 23.53%.

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.