Geode Capital Management LLC Acquires 72,135 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Geode Capital Management LLC lifted its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,373,426 shares of the energy company's stock after purchasing an additional 72,135 shares during the period. Geode Capital Management LLC owned about 2.27% of Ormat Technologies worth $93,029,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Tidal Investments LLC increased its holdings in shares of Ormat Technologies by 36.8% in the third quarter. Tidal Investments LLC now owns 45,642 shares of the energy company's stock worth $3,512,000 after buying an additional 12,272 shares during the period. Versant Capital Management Inc increased its stake in Ormat Technologies by 132.4% in 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. Mendota Financial Group LLC bought a new stake in Ormat Technologies in the fourth quarter valued at approximately $98,000. Inspire Investing LLC boosted its stake in shares of Ormat Technologies by 11.0% during the fourth quarter. Inspire Investing LLC now owns 5,914 shares of the energy company's stock valued at $400,000 after purchasing an additional 586 shares during the period. Finally, Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management grew its holdings in shares of Ormat Technologies by 57.3% in the fourth quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 223,937 shares of the energy company's stock worth $15,165,000 after purchasing an additional 81,547 shares during the last quarter. 95.49% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

ORA has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price target 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. Robert W. Baird initiated coverage on shares of Ormat Technologies in a research note on Thursday, March 13th. They set a "neutral" rating and a $81.00 price objective for the company. Baird R W raised Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. Piper Sandler assumed coverage on Ormat Technologies in a research report on Thursday, December 19th. They set a "neutral" rating and a $78.00 price target for the company. Finally, StockNews.com upgraded Ormat Technologies from a "sell" rating to a "hold" rating in a research report on Monday, April 7th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $83.56.

Insider Activity at Ormat Technologies

In other news, Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $29,509.35. Following the completion of the sale, the insider now owns 6,094 shares in the company, valued at $439,682.10. The trade was a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,242 shares of company stock valued at $156,427 in the last three months. Company insiders own 1.00% of the company's stock.

Ormat Technologies Stock Up 1.0 %

ORA stock traded up $0.68 during midday trading on Tuesday, hitting $71.17. The stock had a trading volume of 155,234 shares, compared to its average volume of 494,053. 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 $4.31 billion, a price-to-earnings ratio of 36.31, a price-to-earnings-growth ratio of 3.18 and a beta of 0.52. The business has a 50-day moving average of $68.86 and a two-hundred day moving average of $72.27. Ormat Technologies, Inc. has a 52-week low of $59.41 and a 52-week high of $84.30.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were paid a $0.12 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.67%. Ormat Technologies's payout ratio is 23.53%.

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.