Yelin Lapidot Holdings Management Ltd. Sells 36,045 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Yelin Lapidot Holdings Management Ltd. trimmed its holdings in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 25.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,175 shares of the energy company's stock after selling 36,045 shares during the period. Ormat Technologies accounts for 1.3% of Yelin Lapidot Holdings Management Ltd.'s holdings, making the stock its 22nd largest position. Yelin Lapidot Holdings Management Ltd. owned 0.18% of Ormat Technologies worth $7,190,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ORA. Global Alpha Capital Management Ltd. boosted its holdings in shares of Ormat Technologies by 6.1% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 2,446,624 shares of the energy company's stock valued at $188,125,000 after purchasing an additional 140,882 shares in the last quarter. Impax Asset Management Group plc boosted its stake in Ormat Technologies by 7.3% in the fourth quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company's stock valued at $162,586,000 after buying an additional 163,505 shares in the last quarter. Geode Capital Management LLC boosted its stake in Ormat Technologies by 1.8% in the third quarter. Geode Capital Management LLC now owns 1,301,291 shares of the energy company's stock valued at $100,140,000 after buying an additional 22,714 shares in the last quarter. Y.D. More Investments Ltd grew its position in Ormat Technologies by 13.2% in the fourth quarter. Y.D. More Investments Ltd now owns 524,416 shares of the energy company's stock valued at $36,030,000 after acquiring an additional 61,236 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in Ormat Technologies by 8.6% during the fourth quarter. Van ECK Associates Corp now owns 418,653 shares of the energy company's stock worth $28,352,000 after acquiring an additional 33,279 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors.

Remove Ads

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Piper Sandler started coverage on shares of Ormat Technologies in a research report on Thursday, December 19th. They issued a "neutral" rating and a $78.00 target price on the stock. Roth Mkm reaffirmed a "buy" rating and issued a $92.00 price objective (up previously from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. JPMorgan Chase & Co. lifted their target price on Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday. Oppenheimer increased their price target on Ormat Technologies from $86.00 to $91.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Finally, Jefferies Financial Group raised Ormat Technologies from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $73.00 to $78.00 in a research note on Thursday, February 20th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.88.

Ormat Technologies Stock Up 1.1 %

NYSE ORA traded up $0.73 on Tuesday, hitting $69.46. 496,333 shares of the company were exchanged, compared to its average volume of 465,062. Ormat Technologies, Inc. has a 12 month low of $59.41 and a 12 month 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 company has a market cap of $4.20 billion, a PE ratio of 35.44, a PEG ratio of 3.18 and a beta of 0.57. The stock has a fifty day moving average of $66.48 and a 200-day moving average of $73.17.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.69%. Ormat Technologies's dividend payout ratio (DPR) is presently 23.53%.

Insider Activity

In other news, major shareholder Corp Orix sold 3,700,000 shares of the business's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $75.38, for a total transaction of $278,906,000.00. Following the completion of the sale, the insider now directly owns 2,976,077 shares of the company's stock, valued at $224,336,684.26. The trade was a 55.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate 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.