LGT Capital Partners LTD. Trims Holdings in Ormat Technologies, Inc. (NYSE:ORA)

LGT Capital Partners LTD. reduced its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 170,680 shares of the energy company's stock after selling 4,680 shares during the period. LGT Capital Partners LTD. owned 0.28% of Ormat Technologies worth $11,558,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased 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 acquiring an additional 229 shares in the last quarter. Mendota Financial Group LLC bought a new stake in shares of Ormat Technologies in the fourth quarter valued at $98,000. Generali Investments CEE investicni spolecnost a.s. bought a new position in Ormat Technologies during the fourth quarter worth about $182,000. Raymond James Financial Inc. purchased a new position in Ormat Technologies in the 4th quarter valued at approximately $204,000. Finally, Perigon Wealth Management LLC raised its stake in shares of Ormat Technologies by 16.4% during the 4th quarter. Perigon Wealth Management LLC now owns 3,162 shares of the energy company's stock valued at $214,000 after purchasing an additional 446 shares during the period. 95.49% of the stock is owned by institutional investors and hedge funds.

Ormat Technologies Price Performance

Shares of ORA traded down $1.78 during mid-day trading on Tuesday, hitting $71.15. 319,445 shares of the stock were exchanged, compared to its average volume of 469,333. Ormat Technologies, Inc. has a 52-week low of $59.41 and a 52-week 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. The firm has a 50-day moving average of $66.51 and a two-hundred day moving average of $73.06. The company has a market cap of $4.30 billion, a PE ratio of 36.30, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51.

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Ormat Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.67%. The ex-dividend date is Wednesday, March 12th. Ormat Technologies's dividend payout ratio (DPR) is presently 23.53%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Jefferies Financial Group upgraded Ormat Technologies from a "hold" rating to a "buy" rating and lifted their price target for the company from $73.00 to $78.00 in a research report on Thursday, February 20th. JPMorgan Chase & Co. increased their target price on Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a report on Friday, February 28th. Finally, Piper Sandler initiated coverage on shares of Ormat Technologies in a research report on Thursday, December 19th. They issued a "neutral" rating and a $78.00 price objective on the stock. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.88.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, Director David Granot sold 1,666 shares of the business's 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 transaction, the director now directly owns 1,910 shares in the company, valued at approximately $131,790. The trade was a 46.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Corp Orix sold 3,700,000 shares of Ormat Technologies stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $75.38, for a total transaction of $278,906,000.00. Following the completion of the transaction, the insider now directly owns 2,976,077 shares in the company, valued at approximately $224,336,684.26. The trade was a 55.42 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

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.