First Trust Advisors LP Has $15.70 Million Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

First Trust Advisors LP trimmed its position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 8.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 231,776 shares of the energy company's stock after selling 22,531 shares during the quarter. First Trust Advisors LP owned approximately 0.38% of Ormat Technologies worth $15,696,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. GeoWealth Management LLC raised its stake in Ormat Technologies by 21.2% in the fourth quarter. GeoWealth Management LLC now owns 4,775 shares of the energy company's stock valued at $323,000 after buying an additional 835 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in Ormat Technologies by 3.7% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 65,044 shares of the energy company's stock valued at $4,399,000 after acquiring an additional 2,344 shares during the period. Altshuler Shaham Ltd lifted its holdings in Ormat Technologies by 215.1% during the 4th quarter. Altshuler Shaham Ltd now owns 15,722 shares of the energy company's stock valued at $1,081,000 after purchasing an additional 10,732 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new position in Ormat Technologies during the fourth quarter worth $588,000. Finally, Guggenheim Capital LLC increased its holdings in shares of Ormat Technologies by 18.0% in the fourth quarter. Guggenheim Capital LLC now owns 7,087 shares of the energy company's stock valued at $480,000 after purchasing an additional 1,080 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ORA shares. Baird R W upgraded shares of Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. Jefferies Financial Group increased their target price on Ormat Technologies from $78.00 to $86.00 and gave the stock a "buy" rating in a research note on Tuesday, March 25th. Robert W. Baird initiated coverage on Ormat Technologies in a report on Thursday, March 13th. They issued a "neutral" rating and a $81.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, February 28th. Finally, StockNews.com upgraded shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research note on Monday, April 7th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $83.56.

Ormat Technologies Price Performance

ORA traded up $0.35 on Tuesday, hitting $73.57. 375,416 shares of the stock were exchanged, compared to its average volume of 484,236. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 37.54, a PEG ratio of 3.18 and a beta of 0.52. 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 $61.58 and a 12 month high of $84.30. The business has a 50-day moving average of $70.51 and a two-hundred day moving average of $72.00.

Ormat Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Wednesday, March 12th. Ormat Technologies's dividend payout ratio (DPR) is presently 23.53%.

Insider Buying and Selling

In other news, Director David Granot sold 1,666 shares of the firm's stock in a transaction that occurred 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 sale, the director now directly owns 1,910 shares in the company, valued at approximately $131,790. This trade represents a 46.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jessica Woelfel sold 409 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 6,094 shares of the company's stock, 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. In the last 90 days, insiders have sold 2,242 shares of company stock worth $156,427. Corporate insiders own 0.56% of the company's stock.

About Ormat Technologies

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.