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

Grantham Mayo Van Otterloo & Co. LLC cut its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 17.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 212,036 shares of the energy company’s stock after selling 46,000 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Ormat Technologies were worth $14,359,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc lifted its holdings 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 acquiring an additional 229 shares in the last quarter. AlphaQuest LLC lifted 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 purchasing an additional 563 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Ormat Technologies during the fourth quarter worth about $66,000. Mendota Financial Group LLC purchased a new stake in shares of Ormat Technologies in the fourth quarter worth about $98,000. Finally, Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Ormat Technologies in the fourth quarter valued at about $182,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ormat Technologies news, insider Jessica Woelfel sold 409 shares of the business’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 completion of the transaction, 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 legal filing with the SEC, which can be accessed through this link. Also, Director David Granot sold 1,666 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $131,790. The trade was a 46.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,242 shares of company stock worth $156,427 in the last three months. 1.00% of the stock is owned by insiders.

Ormat Technologies Stock Performance

ORA stock opened at $68.25 on Monday. The stock’s 50 day simple moving average is $68.05 and its 200 day simple moving average is $72.67. Ormat Technologies, Inc. has a 12-month low of $59.41 and a 12-month high of $84.30. The firm has a market cap of $4.14 billion, a P/E ratio of 34.82, a P/E/G ratio of 3.18 and a beta of 0.52. 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 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. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.70%. Ormat Technologies’s dividend payout ratio is currently 23.53%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ORA. Robert W. Baird assumed coverage on Ormat Technologies in a report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price target for the company. Piper Sandler began coverage on shares of Ormat Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $78.00 target price for the company. Baird R W raised shares of Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. JPMorgan Chase & Co. upped their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group lifted their target price on Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, March 25th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.