Grantham Mayo Van Otterloo & Co. LLC Sells 46,000 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Grantham Mayo Van Otterloo & Co. LLC lowered its holdings in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 17.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 212,036 shares of the energy company's stock after selling 46,000 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned about 0.35% of Ormat Technologies worth $14,359,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ORA. Cerity Partners LLC grew its position in Ormat Technologies by 62.5% in the third quarter. Cerity Partners LLC now owns 5,496 shares of the energy company's stock worth $423,000 after buying an additional 2,114 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Ormat Technologies by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,301,291 shares of the energy company's stock worth $100,140,000 after acquiring an additional 22,714 shares during the last quarter. Tidal Investments LLC raised its position in shares of Ormat Technologies by 36.8% during the third quarter. Tidal Investments LLC now owns 45,642 shares of the energy company's stock worth $3,512,000 after purchasing an additional 12,272 shares during the period. Versant Capital Management Inc lifted its holdings 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 valued at $27,000 after purchasing an additional 229 shares during the last quarter. Finally, Mendota Financial Group LLC acquired a new position in shares of Ormat Technologies in the 4th quarter valued at $98,000. 95.49% of the stock is currently owned by institutional investors.

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Insider Activity at Ormat Technologies

In related news, Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction on 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. The trade was a 46.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica Woelfel sold 409 shares of the company's stock in a transaction 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 sale, the insider now owns 6,094 shares of the company's stock, valued at $439,682.10. This represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,242 shares of company stock valued at $156,427. 1.00% of the stock is owned by corporate insiders.

Ormat Technologies Stock Up 1.1 %

ORA traded up $0.77 during trading on Friday, reaching $69.30. 111,399 shares of the stock traded hands, compared to its average volume of 495,024. The stock's 50-day simple moving average is $68.59 and its two-hundred day simple moving average is $72.40. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. Ormat Technologies, Inc. has a fifty-two week low of $59.41 and a fifty-two week high of $84.30. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 35.25, a price-to-earnings-growth ratio of 3.18 and a beta of 0.52.

Ormat Technologies Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, February 28th. StockNews.com upgraded shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research report on Monday. Jefferies Financial Group lifted their price objective 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. Baird R W raised shares of Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. Finally, Robert W. Baird began coverage on Ormat Technologies in a research report on Thursday, March 13th. They issued a "neutral" rating and a $81.00 target price for the company. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $83.56.

Ormat Technologies Company 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.