Soros Fund Management LLC Takes $10.16 Million Position in Ormat Technologies, Inc. (NYSE:ORA)

Soros Fund Management LLC acquired a new stake in shares of Ormat Technologies, Inc. (NYSE:ORA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 150,000 shares of the energy company’s stock, valued at approximately $10,158,000.

A number of other large investors have also recently made changes to their positions in the business. Principal Financial Group Inc. raised its position in Ormat Technologies by 5.6% during the fourth quarter. Principal Financial Group Inc. now owns 131,906 shares of the energy company’s stock valued at $8,933,000 after purchasing an additional 7,025 shares during the period. Vanguard Group Inc. increased its position in Ormat Technologies by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company’s stock valued at $409,305,000 after acquiring an additional 274,540 shares during the last quarter. Element Capital Management LLC purchased a new stake in shares of Ormat Technologies in the fourth quarter valued at $2,113,000. Daiwa Securities Group Inc. purchased a new position in shares of Ormat Technologies during the 4th quarter worth about $752,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Ormat Technologies by 6.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 618,937 shares of the energy company’s stock valued at $41,914,000 after purchasing an additional 39,689 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ORA has been the topic of several recent analyst reports. Baird R W upgraded Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. StockNews.com upgraded shares of Ormat Technologies from a “sell” rating to a “hold” rating in a report on Monday, April 7th. Jefferies Financial Group raised 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. Robert W. Baird began 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. Finally, JPMorgan Chase & Co. raised their price objective on Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Ormat Technologies currently has an average rating of “Hold” and a consensus price target of $83.56.

Ormat Technologies Stock Performance

ORA stock opened at $73.32 on Tuesday. Ormat Technologies, Inc. has a one year low of $61.58 and a one year high of $84.30. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 37.41, a PEG ratio of 3.18 and a beta of 0.52. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. The firm has a 50-day simple moving average of $70.42 and a two-hundred day simple moving average of $71.99.

Ormat Technologies Announces Dividend

The company also recently announced 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 0.65%. Ormat Technologies’s payout ratio is 23.53%.

Insider Buying and Selling at Ormat Technologies

In other news, Director David Granot sold 1,666 shares of the business’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 sale, the director now owns 1,910 shares in the company, valued at approximately $131,790. The trade was a 46.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica Woelfel sold 409 shares of the 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 completion of the transaction, the insider now directly owns 6,094 shares of the company’s stock, valued at $439,682.10. The trade was a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,242 shares of company stock worth $156,427 over the last three months. Corporate insiders own 0.56% of the company’s stock.

About Ormat Technologies

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.