ExodusPoint Capital Management LP Acquires 54,911 Shares of Ormat Technologies, Inc. (NYSE:ORA)

ExodusPoint Capital Management LP raised its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 120.8% in the 4th quarter, Holdings Channel reports. The firm owned 100,373 shares of the energy company’s stock after purchasing an additional 54,911 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Ormat Technologies were worth $6,797,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Ormat Technologies by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company’s stock worth $409,305,000 after buying an additional 274,540 shares during the period. Impax Asset Management Group plc raised its stake in shares of Ormat Technologies by 7.3% during the fourth quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company’s stock valued at $162,586,000 after acquiring an additional 163,505 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ormat Technologies by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 1,373,426 shares of the energy company’s stock valued at $93,029,000 after purchasing an additional 72,135 shares during the period. Norges Bank bought a new position in Ormat Technologies in the fourth quarter worth approximately $62,851,000. Finally, Charles Schwab Investment Management Inc. increased 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 worth $41,914,000 after purchasing an additional 39,689 shares during the period. 95.49% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ormat Technologies

In other news, insider Jessica Woelfel sold 409 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total transaction of $29,509.35. Following the transaction, the insider now owns 6,094 shares in the company, valued at $439,682.10. This represents a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction that occurred 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 owns 1,910 shares of the company’s stock, valued at $131,790. This trade represents a 46.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,242 shares of company stock valued at $156,427 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Ormat Technologies Trading Down 3.6 %

NYSE ORA opened at $68.25 on Friday. The firm 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. Ormat Technologies, Inc. has a 52 week low of $59.41 and a 52 week high of $84.30. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The company has a 50 day moving average price of $68.05 and a 200 day moving average price of $72.69.

Ormat Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.70%. Ormat Technologies’s dividend payout ratio is presently 23.53%.

Analyst Upgrades and Downgrades

ORA has been the subject of several research reports. Robert W. Baird assumed coverage on Ormat Technologies in a research report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price target on the stock. Baird R W raised shares of Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. JPMorgan Chase & Co. upped their price target on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Piper Sandler initiated coverage on shares of Ormat Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $78.00 price objective on the stock. Finally, Jefferies Financial Group boosted their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, March 25th. 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 stock has an average rating of “Hold” and an average target price of $83.56.

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.