Ormat Technologies, Inc. (NYSE:ORA) Shares Sold by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC lessened its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 17.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 212,036 shares of the energy company’s stock after selling 46,000 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned about 0.35% of Ormat Technologies worth $14,359,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ORA. Dynamic Technology Lab Private Ltd purchased a new position in Ormat Technologies during the fourth quarter worth about $809,000. ExodusPoint Capital Management LP raised its stake in shares of Ormat Technologies by 120.8% during the 4th quarter. ExodusPoint Capital Management LP now owns 100,373 shares of the energy company’s stock worth $6,797,000 after buying an additional 54,911 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Ormat Technologies during the 4th quarter worth approximately $66,000. Geode Capital Management LLC lifted its holdings in shares of Ormat Technologies by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 1,373,426 shares of the energy company’s stock valued at $93,029,000 after buying an additional 72,135 shares during the period. Finally, Franklin Resources Inc. acquired a new position in Ormat Technologies during the fourth quarter worth $526,000. 95.49% of the stock is owned by institutional investors and hedge funds.

Ormat Technologies Price Performance

Shares of NYSE:ORA opened at $68.25 on Monday. Ormat Technologies, Inc. has a one year low of $59.41 and a one year high of $84.30. The stock has a market cap of $4.14 billion, a PE ratio of 34.82, a price-to-earnings-growth ratio of 3.18 and a beta of 0.52. The business’s fifty day moving average price is $68.05 and its two-hundred day moving average price is $72.67. 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 business 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. This represents a $0.48 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Wednesday, March 12th. Ormat Technologies’s dividend payout ratio is presently 23.53%.

Analyst Ratings Changes

Several brokerages have commented on ORA. Jefferies Financial Group boosted their target price on shares of Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, March 25th. Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. Piper Sandler initiated coverage on shares of Ormat Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $78.00 price target for the company. JPMorgan Chase & Co. boosted 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. Finally, Robert W. Baird initiated 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. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $83.56.

Insider Buying and Selling

In other news, insider Jessica Woelfel sold 409 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was 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 document filed with the Securities & Exchange Commission, which is available 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 value of $114,954.00. Following the completion of the transaction, the director now owns 1,910 shares of the company’s stock, valued at $131,790. The trade was a 46.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,242 shares of company stock worth $156,427. 1.00% of the stock is owned by corporate insiders.

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.