150,000 Shares in Ormat Technologies, Inc. (NYSE:ORA) Bought by Soros Fund Management LLC

Soros Fund Management LLC bought a new stake in Ormat Technologies, Inc. (NYSE:ORA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 150,000 shares of the energy company’s stock, valued at approximately $10,158,000. Soros Fund Management LLC owned about 0.25% of Ormat Technologies as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ORA. Versant Capital Management Inc increased 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 valued at $27,000 after purchasing an additional 229 shares during the last quarter. AlphaQuest LLC raised its stake in shares of Ormat Technologies by 4,691.7% during the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock worth $39,000 after acquiring an additional 563 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Ormat Technologies in the 4th quarter worth approximately $66,000. Mendota Financial Group LLC purchased a new stake in shares of Ormat Technologies in the 4th quarter valued at $98,000. Finally, Sterling Capital Management LLC grew its holdings in shares of Ormat Technologies by 897.8% during the 4th quarter. Sterling Capital Management LLC now owns 1,856 shares of the energy company’s stock valued at $126,000 after purchasing an additional 1,670 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Insider Transactions at Ormat Technologies

In other news, 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 sale, the insider now owns 6,094 shares in the company, valued at $439,682.10. This trade represents a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David Granot sold 1,666 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 1,910 shares in the company, valued at $131,790. This trade represents a 46.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,242 shares of company stock worth $156,427 in the last 90 days. 0.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of 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 target price on Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, March 25th. Baird R W raised Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. StockNews.com raised shares of Ormat Technologies from a “sell” rating to a “hold” rating in a report on Monday, April 7th. Finally, Robert W. Baird began coverage on Ormat Technologies in a research report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price target for the company. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $83.56.

Ormat Technologies Stock Performance

ORA stock opened at $73.32 on Tuesday. The company has a market cap of $4.44 billion, a P/E ratio of 37.41, a price-to-earnings-growth 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 1 year low of $61.58 and a 1 year high of $84.30. The stock’s fifty day moving average price is $70.42 and its 200-day moving average price is $71.99.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were given a $0.12 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 0.65%. Ormat Technologies’s payout ratio is presently 23.53%.

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.