Ormat Technologies, Inc. (NYSE:ORA) Position Boosted by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP raised its stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 120.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,373 shares of the energy company's stock after acquiring an additional 54,911 shares during the period. ExodusPoint Capital Management LP owned 0.17% of Ormat Technologies worth $6,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its position in shares of Ormat Technologies by 2.0% in the 4th quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company's stock valued at $544,000 after purchasing an additional 160 shares during the period. Bailard Inc. increased its holdings in shares of Ormat Technologies by 0.9% in the 4th quarter. Bailard Inc. now owns 19,446 shares of the energy company's stock valued at $1,317,000 after acquiring an additional 169 shares during the period. Securian Asset Management Inc. raised its position in Ormat Technologies by 5.1% in the 4th quarter. Securian Asset Management Inc. now owns 4,354 shares of the energy company's stock valued at $295,000 after purchasing an additional 212 shares during the last quarter. Versant Capital Management Inc boosted its stake in Ormat Technologies by 132.4% during the 4th 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 period. Finally, Caprock Group LLC grew its position in Ormat Technologies by 4.0% during the 4th quarter. Caprock Group LLC now owns 6,080 shares of the energy company's stock worth $412,000 after purchasing an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company's stock.

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Ormat Technologies Price Performance

NYSE:ORA traded down $1.89 during trading hours on Thursday, reaching $67.56. 104,599 shares of the company traded hands, compared to its average volume of 495,320. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. The firm's 50-day moving average is $68.47 and its 200-day moving average is $72.45. The stock has a market cap of $4.09 billion, a P/E ratio of 34.43, a P/E/G ratio of 3.18 and a beta of 0.52. Ormat Technologies, Inc. has a 1-year low of $59.41 and a 1-year high of $84.30.

Ormat Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 0.71%. Ormat Technologies's dividend payout ratio (DPR) is presently 23.53%.

Insiders Place Their Bets

In related news, Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $69.00, for a total transaction of $114,954.00. Following the transaction, the director now owns 1,910 shares in the company, valued at approximately $131,790. The trade was a 46.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jessica Woelfel sold 409 shares of the company's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,242 shares of company stock valued at $156,427. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. StockNews.com upgraded shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research report on Monday. Robert W. Baird initiated coverage on Ormat Technologies in a report on Thursday, March 13th. They issued a "neutral" rating and a $81.00 target price for the company. JPMorgan Chase & Co. upped 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. Baird R W upgraded shares of Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. Finally, Jefferies Financial Group upped their target price on shares of Ormat Technologies from $78.00 to $86.00 and gave the stock a "buy" rating in a research report on Tuesday, March 25th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $83.56.

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.