Ormat Technologies, Inc. (NYSE:ORA) Stake Lessened by Schroder Investment Management Group

Schroder Investment Management Group trimmed its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 92.5% during the fourth quarter, HoldingsChannel reports. The fund owned 697,376 shares of the energy company’s stock after selling 8,649,493 shares during the quarter. Schroder Investment Management Group’s holdings in Ormat Technologies were worth $47,226,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in shares of Ormat Technologies by 5.6% during the fourth quarter. Principal Financial Group Inc. now owns 131,906 shares of the energy company’s stock worth $8,933,000 after purchasing an additional 7,025 shares during the last quarter. Element Capital Management LLC bought a new position in Ormat Technologies during the 4th quarter worth approximately $2,113,000. Daiwa Securities Group Inc. acquired a new position in shares of Ormat Technologies in the 4th quarter worth approximately $752,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Ormat Technologies by 6.9% in 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 acquiring an additional 39,689 shares during the last quarter. Finally, RWC Asset Management LLP raised its position in shares of Ormat Technologies by 348.9% during the 4th quarter. RWC Asset Management LLP now owns 165,599 shares of the energy company’s stock valued at $11,214,000 after acquiring an additional 128,705 shares in the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Ormat Technologies Price Performance

Shares of ORA opened at $70.81 on Tuesday. Ormat Technologies, Inc. has a one year low of $59.41 and a one year high of $84.30. The stock’s fifty day moving average is $67.66 and its 200-day moving average is $72.82. 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 market capitalization of $4.28 billion, a price-to-earnings ratio of 36.13, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Wednesday, March 12th. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.53%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Jefferies Financial Group boosted their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, March 25th. Piper Sandler started coverage on 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 upgraded Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. Finally, 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 objective for the company. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.56.

Insider Activity

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. In the last ninety days, insiders have sold 2,242 shares of company stock worth $156,427. 1.00% of the stock is owned by company insiders.

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.