Ormat Technologies, Inc. (NYSE:ORA) Stock Position Decreased by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 16.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,179 shares of the energy company’s stock after selling 13,114 shares during the period. California Public Employees Retirement System owned approximately 0.11% of Ormat Technologies worth $4,549,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Versant Capital Management Inc boosted its stake in Ormat Technologies by 132.4% in the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock worth $27,000 after purchasing an additional 229 shares during the period. AlphaQuest LLC lifted its holdings in shares of Ormat Technologies by 4,691.7% in the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock valued at $39,000 after purchasing an additional 563 shares in the last quarter. Mendota Financial Group LLC acquired a new stake in shares of Ormat Technologies in the fourth quarter worth $98,000. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Ormat Technologies during the fourth quarter valued at $182,000. Finally, Raymond James Financial Inc. acquired a new position in Ormat Technologies during the fourth quarter valued at $204,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ormat Technologies news, Director David Granot sold 1,666 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $69.00, for a total transaction of $114,954.00. Following the completion of the transaction, the director now owns 1,910 shares of the company’s stock, valued at $131,790. The trade was a 46.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessica Woelfel sold 409 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total value of $29,509.35. Following the completion of the sale, the insider now directly owns 6,094 shares in the company, valued at approximately $439,682.10. This represents a 6.29 % 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 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

Ormat Technologies Trading Down 2.8 %

Ormat Technologies stock opened at $66.37 on Wednesday. Ormat Technologies, Inc. has a one year low of $59.41 and a one year high of $84.30. The company’s fifty day moving average price is $68.26 and its two-hundred day moving average price is $72.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 33.86, a PEG ratio of 3.18 and a beta of 0.52.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 0.72%. Ormat Technologies’s dividend payout ratio (DPR) is currently 23.53%.

Analysts Set New Price Targets

Several equities analysts have weighed in on ORA shares. Jefferies Financial Group lifted their target price on Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, March 25th. Piper Sandler assumed coverage on shares of Ormat Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price objective on the stock. 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 target on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. 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. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Ormat Technologies has a consensus rating of “Hold” and a consensus 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.