UniSuper Management Pty Ltd Reduces Holdings in Ormat Technologies, Inc. (NYSE:ORA)

UniSuper Management Pty Ltd lessened its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 11.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 140,266 shares of the energy company’s stock after selling 17,700 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Ormat Technologies were worth $9,499,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position in Ormat Technologies by 2.0% in the fourth quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company’s stock valued at $544,000 after purchasing an additional 160 shares during the period. Bailard Inc. increased its position in shares of Ormat Technologies by 0.9% during 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 holdings in Ormat Technologies by 5.1% in the 4th 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 period. Versant Capital Management Inc lifted its position in Ormat Technologies by 132.4% in 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. Finally, Caprock Group LLC boosted its stake in Ormat Technologies by 4.0% during the fourth quarter. Caprock Group LLC now owns 6,080 shares of the energy company’s stock worth $412,000 after buying an additional 235 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ormat Technologies

In other news, insider Jessica Woelfel sold 409 shares of the business’s 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 in the company, valued at approximately $439,682.10. The trade was a 6.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Granot sold 1,666 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $69.00, for a total transaction of $114,954.00. Following the completion of the transaction, the director now 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 disclosure for this sale can be found here. In the last three months, insiders sold 2,242 shares of company stock valued at $156,427. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

Ormat Technologies Stock Up 0.4 %

ORA stock opened at $70.10 on Friday. The company’s 50 day moving average price is $67.52 and its 200 day moving average price is $72.85. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of 35.76, a PEG ratio of 3.18 and a beta of 0.51. Ormat Technologies, Inc. has a fifty-two week low of $59.41 and a fifty-two week high of $84.30. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95.

Ormat Technologies Dividend Announcement

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

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.