LGT Capital Partners LTD. Has $11.56 Million Position in Ormat Technologies, Inc. (NYSE:ORA)

LGT Capital Partners LTD. lowered its position in Ormat Technologies, Inc. (NYSE:ORA) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 170,680 shares of the energy company’s stock after selling 4,680 shares during the period. LGT Capital Partners LTD.’s holdings in Ormat Technologies were worth $11,558,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ORA. State of Alaska Department of Revenue increased its holdings in Ormat Technologies by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 6,221 shares of the energy company’s stock worth $478,000 after buying an additional 420 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in Ormat Technologies by 4.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 26,554 shares of the energy company’s stock worth $2,043,000 after purchasing an additional 1,125 shares during the period. Empower Advisory Group LLC boosted its position in Ormat Technologies by 4.5% during the third quarter. Empower Advisory Group LLC now owns 194,680 shares of the energy company’s stock worth $14,979,000 after purchasing an additional 8,403 shares during the period. Nicola Wealth Management LTD. boosted its position in Ormat Technologies by 10.0% during the third quarter. Nicola Wealth Management LTD. now owns 44,000 shares of the energy company’s stock worth $3,385,000 after purchasing an additional 4,000 shares during the period. Finally, Mizuho Markets Americas LLC boosted its position in Ormat Technologies by 5.8% during the third quarter. Mizuho Markets Americas LLC now owns 151,211 shares of the energy company’s stock worth $11,634,000 after purchasing an additional 8,317 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Stock Up 1.8 %

ORA opened at $70.64 on Friday. Ormat Technologies, Inc. has a 1-year low of $59.41 and a 1-year 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 stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 36.04, a P/E/G ratio of 3.18 and a beta of 0.51. The business has a 50 day moving average of $66.51 and a 200-day moving average of $73.06.

Ormat Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be given a $0.12 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 0.68%. Ormat Technologies’s dividend payout ratio (DPR) is currently 23.53%.

Insider Buying and Selling

In related news, 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 completion of the transaction, the director now directly owns 1,910 shares of the company’s stock, valued at $131,790. This trade represents a 46.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Corp Orix sold 3,700,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $75.38, for a total value of $278,906,000.00. Following the completion of the transaction, the insider now directly owns 2,976,077 shares of the company’s stock, valued at approximately $224,336,684.26. This trade represents a 55.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ORA shares. JPMorgan Chase & Co. upped their target price on Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Jefferies Financial Group raised Ormat Technologies from a “hold” rating to a “buy” rating and upped their target price for the stock from $73.00 to $78.00 in a research report on Thursday, February 20th. Finally, Piper Sandler started coverage on Ormat Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $78.00 target price for the company. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ormat Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $82.88.

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.