Ormat Technologies, Inc. (NYSE:ORA) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its holdings in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 43.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,353 shares of the energy company's stock after selling 16,935 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Ormat Technologies were worth $1,514,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ORA. Principal Financial Group Inc. increased its position in Ormat Technologies by 5.6% in 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 during the period. Element Capital Management LLC bought a new position in shares of Ormat Technologies in the 4th quarter valued at $2,113,000. Daiwa Securities Group Inc. bought a new position in Ormat Technologies in the 4th quarter valued at 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 worth $41,914,000 after acquiring an additional 39,689 shares during the period. Finally, RWC Asset Management LLP raised its holdings in Ormat Technologies by 348.9% during the fourth quarter. RWC Asset Management LLP now owns 165,599 shares of the energy company's stock worth $11,214,000 after buying an additional 128,705 shares during the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Robert W. Baird started coverage on shares of Ormat Technologies in a research report on Thursday, March 13th. They set a "neutral" rating and a $81.00 target price for the company. Jefferies Financial Group upped their target price on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a report on Tuesday, March 25th. Piper Sandler assumed coverage on Ormat Technologies in a report on Thursday, December 19th. They issued a "neutral" rating and a $78.00 target price on the stock. Baird R W raised Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. increased their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, February 28th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $83.56.

Ormat Technologies Stock Performance

Ormat Technologies stock traded up $0.30 during trading hours on Tuesday, hitting $71.07. The company had a trading volume of 61,018 shares, compared to its average volume of 487,319. The firm has a 50-day moving average of $67.66 and a 200 day moving average of $72.82. Ormat Technologies, Inc. has a one year low of $59.41 and a one year high of $84.30. 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 has a market cap of $4.30 billion, a PE ratio of 36.23, a PEG ratio of 3.18 and a beta of 0.51.

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 issued a $0.12 dividend. 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 0.68%. Ormat Technologies's dividend payout ratio is presently 23.53%.

Insider Transactions at Ormat Technologies

In related news, Director David Granot sold 1,666 shares of the firm'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 sale, the director now owns 1,910 shares of the company's stock, valued at $131,790. This trade represents a 46.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jessica Woelfel sold 409 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total value of $29,509.35. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,242 shares of company stock worth $156,427 in the last ninety days. Company insiders own 1.00% of the company's stock.

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.