ORIX Corp Has $201.54 Million Stake in Ormat Technologies, Inc. (NYSE:ORA)

ORIX Corp cut its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 55.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,976,077 shares of the energy company’s stock after selling 3,700,000 shares during the period. Ormat Technologies makes up approximately 100.0% of ORIX Corp’s investment portfolio, making the stock its largest position. ORIX Corp owned about 4.92% of Ormat Technologies worth $201,540,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ORA. Versant Capital Management Inc grew its position in shares of Ormat Technologies by 132.4% during the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock worth $27,000 after purchasing an additional 229 shares in the last quarter. AlphaQuest LLC boosted its stake in shares of Ormat Technologies by 4,691.7% in the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock valued at $39,000 after buying an additional 563 shares during the period. Headlands Technologies LLC acquired a new stake in Ormat Technologies during the fourth quarter worth approximately $66,000. Mendota Financial Group LLC bought a new position in Ormat Technologies during the 4th quarter worth $98,000. Finally, Generali Investments CEE investicni spolecnost a.s. acquired a new position in Ormat Technologies in the 4th quarter valued at $182,000. 95.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ORA shares. Baird R W raised Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. Jefferies Financial Group increased their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, March 25th. JPMorgan Chase & Co. boosted their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Piper Sandler started coverage on shares of Ormat Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $78.00 price target for the company. Finally, Robert W. Baird assumed coverage on shares of Ormat Technologies in a research note on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $83.56.

Ormat Technologies Stock Performance

Shares of Ormat Technologies stock opened at $68.25 on Friday. The company’s 50 day moving average price is $68.05 and its two-hundred day moving average price is $72.69. The firm has a market capitalization of $4.14 billion, a P/E ratio of 34.82, a P/E/G ratio of 3.18 and a beta of 0.52. 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.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.70%. Ormat Technologies’s dividend payout ratio is currently 23.53%.

Insiders Place Their Bets

In related news, insider Jessica Woelfel sold 409 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total value of $29,509.35. Following the completion of the sale, the insider now directly owns 6,094 shares in the company, valued at $439,682.10. This represents a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Granot sold 1,666 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total value of $114,954.00. Following the transaction, the director now directly owns 1,910 shares of the company’s stock, valued at approximately $131,790. This represents a 46.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,242 shares of company stock valued at $156,427 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Ormat Technologies 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.