UniSuper Management Pty Ltd Has $9.50 Million Stake in Ormat Technologies, Inc. (NYSE:ORA)

UniSuper Management Pty Ltd cut its holdings in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 11.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,266 shares of the energy company's stock after selling 17,700 shares during the period. UniSuper Management Pty Ltd owned approximately 0.23% of Ormat Technologies worth $9,499,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ORA. Pacer Advisors Inc. grew its stake in shares of Ormat Technologies by 2.0% in the fourth quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company's stock worth $544,000 after acquiring an additional 160 shares during the last quarter. Bailard Inc. grew its position in Ormat Technologies by 0.9% in the 4th quarter. Bailard Inc. now owns 19,446 shares of the energy company's stock worth $1,317,000 after purchasing an additional 169 shares during the last quarter. Securian Asset Management Inc. raised its position in shares of Ormat Technologies by 5.1% during the fourth quarter. Securian Asset Management Inc. now owns 4,354 shares of the energy company's stock valued at $295,000 after buying an additional 212 shares during the last quarter. Versant Capital Management Inc raised its holdings in Ormat Technologies by 132.4% in the 4th 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. Finally, Caprock Group LLC raised its stake in shares of Ormat Technologies by 4.0% in the fourth quarter. Caprock Group LLC now owns 6,080 shares of the energy company's stock valued at $412,000 after purchasing an additional 235 shares in the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

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 stock was 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 directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jessica Woelfel sold 409 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total transaction of $29,509.35. Following the completion of the transaction, the insider now directly owns 6,094 shares in the company, valued at $439,682.10. This trade represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,242 shares of company stock valued at $156,427. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ORA has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a research report on Friday, February 28th. Baird R W upgraded Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. Piper Sandler began coverage on Ormat Technologies in a research report on Thursday, December 19th. They issued a "neutral" rating and a $78.00 price target on the stock. Robert W. Baird began coverage on Ormat Technologies in a report on Thursday, March 13th. They set a "neutral" rating and a $81.00 price objective for the company. Finally, Jefferies Financial Group upped their target price on shares of Ormat Technologies from $78.00 to $86.00 and gave the stock a "buy" rating in a report on Tuesday, March 25th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $83.56.

Ormat Technologies Price Performance

Shares of Ormat Technologies stock traded up $0.31 during trading on Tuesday, reaching $71.08. The company's stock had a trading volume of 61,018 shares, compared to its average volume of 487,317. The stock has a 50-day moving average price of $67.66 and a two-hundred day moving average price of $72.82. The stock has a market capitalization of $4.30 billion, a P/E ratio of 36.23, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. Ormat Technologies, Inc. has a one year low of $59.41 and a one year high of $84.30.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.68%. The ex-dividend date was Wednesday, March 12th. Ormat Technologies's dividend payout ratio (DPR) is presently 23.53%.

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.