Martingale Asset Management L P Invests $1.11 Million in Ormat Technologies, Inc. (NYSE:ORA)

Martingale Asset Management L P bought a new stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 16,414 shares of the energy company's stock, valued at approximately $1,112,000.

A number of other large investors have also recently bought and sold shares of the stock. Versant Capital Management Inc lifted its position in shares of Ormat Technologies by 132.4% in the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company's stock valued at $27,000 after acquiring an additional 229 shares in the last quarter. AlphaQuest LLC raised its stake in Ormat Technologies by 4,691.7% in the 4th quarter. AlphaQuest LLC now owns 575 shares of the energy company's stock valued at $39,000 after purchasing an additional 563 shares during the last quarter. Headlands Technologies LLC purchased a new position in Ormat Technologies in the 4th quarter valued at about $66,000. Mendota Financial Group LLC acquired a new stake in shares of Ormat Technologies during the 4th quarter worth about $98,000. Finally, Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Ormat Technologies during the 4th quarter worth about $182,000. Institutional investors and hedge funds own 95.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ORA. Jefferies Financial Group raised 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. Robert W. Baird assumed coverage on Ormat Technologies in a research report on Thursday, March 13th. They issued a "neutral" rating and a $81.00 price objective for the company. Piper Sandler initiated coverage on Ormat Technologies in a research report on Thursday, December 19th. They set 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, StockNews.com raised shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research note on Monday, April 7th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $83.56.

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Ormat Technologies Trading Up 0.8 %

Shares of NYSE:ORA traded up $0.54 during trading on Tuesday, reaching $71.03. 398,816 shares of the stock were exchanged, compared to its average volume of 493,300. The firm's 50-day moving average price is $68.99 and its 200 day moving average price is $72.26. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of 36.24, a price-to-earnings-growth ratio of 3.18 and a beta of 0.52. Ormat Technologies, Inc. has a 12-month low of $59.41 and a 12-month high of $84.30. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were paid 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 was Wednesday, March 12th. Ormat Technologies's dividend payout ratio is presently 23.53%.

Insider Activity at Ormat Technologies

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

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.