California Public Employees Retirement System Lowers Position in Ormat Technologies, Inc. (NYSE:ORA)

California Public Employees Retirement System lowered its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 16.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,179 shares of the energy company's stock after selling 13,114 shares during the quarter. California Public Employees Retirement System owned approximately 0.11% of Ormat Technologies worth $4,549,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc raised 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 valued at $27,000 after buying an additional 229 shares during the last quarter. AlphaQuest LLC boosted its holdings in shares of Ormat Technologies by 4,691.7% during the 4th quarter. AlphaQuest LLC now owns 575 shares of the energy company's stock valued at $39,000 after purchasing an additional 563 shares during the last quarter. Mendota Financial Group LLC purchased a new position in shares of Ormat Technologies during the fourth quarter valued at about $98,000. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Ormat Technologies in the fourth quarter worth about $182,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Ormat Technologies in the fourth quarter worth about $204,000. 95.49% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director David Granot sold 1,666 shares of the firm'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. This trade represents a 46.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jessica Woelfel sold 409 shares of Ormat Technologies stock in a transaction that occurred on 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 sale, the insider now owns 6,094 shares of the company's stock, valued at $439,682.10. This trade represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,242 shares of company stock worth $156,427. 1.00% of the stock is owned by corporate insiders.

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Ormat Technologies Price Performance

Shares of NYSE ORA traded up $0.64 during trading on Monday, hitting $70.67. The company had a trading volume of 19,646 shares, compared to its average volume of 493,425. The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of 35.83, a price-to-earnings-growth ratio of 3.18 and a beta of 0.52. 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 fifty day simple moving average of $68.74 and a two-hundred day simple moving average of $72.32. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73.

Ormat Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.68%. Ormat Technologies's payout ratio is 23.53%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ORA shares. JPMorgan Chase & Co. lifted their price objective on Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, February 28th. Jefferies Financial Group increased their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, March 25th. StockNews.com upgraded shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research report on Monday, April 7th. Baird R W upgraded Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. Finally, Robert W. Baird started coverage on Ormat Technologies in a research report on Thursday, March 13th. They set a "neutral" rating and a $81.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, 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.