GeoWealth Management LLC Buys 835 Shares of Ormat Technologies, Inc. (NYSE:ORA)

GeoWealth Management LLC grew its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 21.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,775 shares of the energy company’s stock after buying an additional 835 shares during the period. GeoWealth Management LLC’s holdings in Ormat Technologies were worth $323,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co increased its holdings in Ormat Technologies by 3.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 65,044 shares of the energy company’s stock worth $4,399,000 after acquiring an additional 2,344 shares during the period. Altshuler Shaham Ltd increased its holdings in shares of Ormat Technologies by 215.1% in the fourth quarter. Altshuler Shaham Ltd now owns 15,722 shares of the energy company’s stock worth $1,081,000 after purchasing an additional 10,732 shares during the period. Ontario Teachers Pension Plan Board purchased a new stake in shares of Ormat Technologies in the fourth quarter worth $588,000. Guggenheim Capital LLC grew its position in Ormat Technologies by 18.0% during the fourth quarter. Guggenheim Capital LLC now owns 7,087 shares of the energy company’s stock worth $480,000 after buying an additional 1,080 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Ormat Technologies in the 4th quarter worth about $375,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ormat Technologies

In related news, insider Jessica Woelfel sold 409 shares of the company’s stock in a transaction 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 directly owns 6,094 shares in the company, valued at $439,682.10. This represents a 6.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 transaction of $114,954.00. Following the completion of the sale, the director now directly owns 1,910 shares in the company, valued at approximately $131,790. This trade represents a 46.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,242 shares of company stock worth $156,427. 0.56% of the stock is currently owned by insiders.

Ormat Technologies Stock Up 2.4 %

ORA opened at $72.45 on Wednesday. Ormat Technologies, Inc. has a 12 month low of $61.58 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 business’s 50-day moving average price is $69.77 and its 200-day moving average price is $72.09. The company has a market cap of $4.39 billion, a P/E ratio of 36.96, a P/E/G ratio of 3.18 and a beta of 0.52.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were paid a $0.12 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.66%. Ormat Technologies’s dividend payout ratio (DPR) is currently 23.53%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Robert W. Baird started coverage on Ormat Technologies in a report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price objective for the company. StockNews.com raised shares of Ormat Technologies from a “sell” rating to a “hold” rating in a report on Monday, April 7th. JPMorgan Chase & Co. lifted their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. Finally, Jefferies Financial Group raised their price target on Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, March 25th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ormat Technologies presently has an average rating of “Hold” and an average target price of $83.56.

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.