Alliancebernstein L.P. Has $7.65 Million Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Alliancebernstein L.P. lessened its stake in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 4.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 112,932 shares of the energy company's stock after selling 5,518 shares during the quarter. Alliancebernstein L.P. owned about 0.19% of Ormat Technologies worth $7,648,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. boosted its position in shares of Ormat Technologies by 175.8% in the 4th quarter. Meeder Asset Management Inc. now owns 21,130 shares of the energy company's stock valued at $1,431,000 after purchasing an additional 13,469 shares during the period. Pictet Asset Management Holding SA increased its position in shares of Ormat Technologies by 128.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 18,725 shares of the energy company's stock worth $1,268,000 after acquiring an additional 10,535 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Ormat Technologies during the fourth quarter valued at approximately $2,338,000. Norges Bank purchased a new stake in shares of Ormat Technologies in the 4th quarter valued at approximately $62,851,000. Finally, Corebridge Financial Inc. boosted its stake in Ormat Technologies by 1.3% in the 4th quarter. Corebridge Financial Inc. now owns 93,305 shares of the energy company's stock worth $6,319,000 after purchasing an additional 1,219 shares during the period. Institutional investors own 95.49% of the company's stock.

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Ormat Technologies Price Performance

NYSE ORA traded down $1.12 on Wednesday, reaching $69.96. The company's stock had a trading volume of 163,477 shares, compared to its average volume of 492,159. Ormat Technologies, Inc. has a 52 week low of $59.41 and a 52 week high of $84.30. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The firm has a market cap of $4.24 billion, a PE ratio of 35.69, a price-to-earnings-growth ratio of 3.18 and a beta of 0.52. The business has a 50-day moving average price of $68.99 and a 200 day moving average price of $72.26.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Wednesday, March 12th. Ormat Technologies's payout ratio is 23.53%.

Insider Buying and Selling

In other Ormat Technologies news, Director David Granot sold 1,666 shares of the company's stock in a transaction 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 sale, the director now owns 1,910 shares in the company, valued at approximately $131,790. The trade was a 46.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jessica Woelfel sold 409 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total value of $29,509.35. Following 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 position. The disclosure for this sale can be found here. Insiders sold 2,242 shares of company stock worth $156,427 in the last quarter. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ORA has been the topic of a number of research reports. StockNews.com upgraded Ormat Technologies from a "sell" rating to a "hold" rating in a report on Monday, April 7th. Baird R W raised Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. Jefferies Financial Group boosted their price target on Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, March 25th. Robert W. Baird began coverage on shares of Ormat Technologies in a research report on Thursday, March 13th. They set a "neutral" rating and a $81.00 price objective on the stock. Finally, Piper Sandler started coverage on shares of Ormat Technologies in a research note on Thursday, December 19th. They set a "neutral" rating and a $78.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $83.56.

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.