Ormat Technologies, Inc. (NYSE:ORA) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 43.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 22,353 shares of the energy company’s stock after selling 16,935 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Ormat Technologies were worth $1,514,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ORA. Corebridge Financial Inc. lifted its holdings in Ormat Technologies by 1.3% in the fourth quarter. Corebridge Financial Inc. now owns 93,305 shares of the energy company’s stock worth $6,319,000 after acquiring an additional 1,219 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 274,540 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Ormat Technologies in the 4th quarter worth approximately $5,953,000. AXQ Capital LP acquired a new position in Ormat Technologies during the 4th quarter valued at approximately $312,000. Finally, Element Capital Management LLC bought a new position in Ormat Technologies during the 4th quarter worth $2,113,000. Institutional investors own 95.49% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ORA. JPMorgan Chase & Co. boosted their price target on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Baird R W raised shares of Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. Jefferies Financial Group upped 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. Piper Sandler started coverage on Ormat Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $78.00 price objective for the company. Finally, 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 objective for the company. Six equities research 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 currently has a consensus rating of “Hold” and an average target price of $83.56.

Insiders Place Their Bets

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 completion of the sale, the insider now directly owns 6,094 shares of the company’s stock, valued at $439,682.10. This trade represents a 6.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David Granot sold 1,666 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total value of $114,954.00. Following the sale, the director now directly owns 1,910 shares in the company, 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. Over the last three months, insiders have sold 2,242 shares of company stock worth $156,427. 1.00% of the stock is owned by corporate insiders.

Ormat Technologies Stock Performance

Shares of NYSE ORA opened at $70.10 on Friday. Ormat Technologies, Inc. has a 1 year low of $59.41 and a 1 year high of $84.30. 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 stock has a fifty day moving average price of $67.52 and a two-hundred day moving average price of $72.85. The firm has a market cap of $4.24 billion, a P/E ratio of 35.76, a PEG ratio of 3.18 and a beta of 0.51.

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 issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Wednesday, March 12th. Ormat Technologies’s payout ratio is currently 23.53%.

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.