LPL Financial LLC Decreases Holdings in Ormat Technologies, Inc. (NYSE:ORA)

LPL Financial LLC reduced its position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 64.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,836 shares of the energy company's stock after selling 12,213 shares during the quarter. LPL Financial LLC's holdings in Ormat Technologies were worth $463,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc raised its position in shares of Ormat Technologies by 132.4% during the fourth 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. AlphaQuest LLC boosted its stake in Ormat Technologies by 4,691.7% in the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company's stock valued at $39,000 after acquiring an additional 563 shares during the last quarter. Mendota Financial Group LLC bought a new position in shares of Ormat Technologies during the 4th quarter valued at approximately $98,000. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Ormat Technologies during the 4th quarter valued at approximately $182,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Ormat Technologies during the 4th quarter worth approximately $204,000. 95.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ORA has been the subject of several research reports. StockNews.com raised Ormat Technologies from a "sell" rating to a "hold" rating in a report on Monday, April 7th. Jefferies Financial Group increased their price target on Ormat Technologies from $78.00 to $86.00 and gave the stock a "buy" rating in a research note on Tuesday, March 25th. Baird R W raised Ormat Technologies to a "hold" rating in a report on Thursday, March 13th. Robert W. Baird started coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They set a "neutral" rating and a $81.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their target price 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. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $83.56.

Ormat Technologies Price Performance

Ormat Technologies stock traded up $0.35 during midday trading on Tuesday, reaching $73.57. 375,416 shares of the stock were exchanged, compared to its average volume of 484,412. The company's fifty day moving average is $70.42 and its 200-day moving average is $71.99. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. Ormat Technologies, Inc. has a 52 week low of $61.58 and a 52 week high of $84.30. The firm has a market cap of $4.46 billion, a PE ratio of 37.54, a PEG ratio of 3.18 and a beta of 0.52.

Ormat Technologies Announces Dividend

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

Insider Activity at Ormat Technologies

In other news, Director David Granot sold 1,666 shares of Ormat Technologies 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 owns 1,910 shares in the company, valued at approximately $131,790. This trade represents a 46.59 % decrease in their position. The sale 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 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 completion of the transaction, the insider now owns 6,094 shares in the company, valued at approximately $439,682.10. This trade represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,242 shares of company stock valued at $156,427. Company insiders own 0.56% 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.