Xponance Inc. Acquires 1,462 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Xponance Inc. increased its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 20.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,757 shares of the energy company’s stock after acquiring an additional 1,462 shares during the period. Xponance Inc.’s holdings in Ormat Technologies were worth $593,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Versant Capital Management Inc increased its holdings in Ormat Technologies by 132.4% during the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock worth $27,000 after purchasing an additional 229 shares in the last quarter. AlphaQuest LLC grew its holdings in 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 buying an additional 563 shares in the last quarter. Mendota Financial Group LLC purchased a new stake in Ormat Technologies in the 4th quarter valued at $98,000. Generali Investments CEE investicni spolecnost a.s. bought a new position in Ormat Technologies during the 4th quarter valued at $182,000. Finally, Raymond James Financial Inc. purchased a new position in Ormat Technologies during the 4th quarter worth $204,000. Institutional investors own 95.49% of the company’s stock.

Analyst Ratings Changes

ORA has been the subject of several analyst reports. Piper Sandler began coverage on shares of Ormat Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 target price for the company. Robert W. Baird assumed coverage on shares of Ormat Technologies in a research report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price objective for the company. Jefferies Financial Group lifted 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. Baird R W raised Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. lifted their price target on Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $83.56.

Insider Buying and Selling

In other news, insider Jessica Woelfel sold 409 shares of Ormat Technologies stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total value of $29,509.35. Following the completion of the transaction, 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 at the SEC website. Also, Director David Granot sold 1,666 shares of the business’s stock in a transaction that occurred 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 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. In the last 90 days, insiders sold 2,242 shares of company stock valued at $156,427. 1.00% of the stock is owned by insiders.

Ormat Technologies Price Performance

Ormat Technologies stock opened at $71.24 on Wednesday. The business’s 50 day simple moving average is $67.42 and its 200 day simple moving average is $72.90. Ormat Technologies, Inc. has a 12 month low of $59.41 and a 12 month high of $84.30. The company has a market cap of $4.31 billion, a price-to-earnings ratio of 36.35, a PEG ratio of 3.18 and a beta of 0.51. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Ormat Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.67%. Ormat Technologies’s payout ratio is 23.53%.

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.