Sei Investments Co. Reduces Position in Ormat Technologies, Inc. (NYSE:ORA)

Sei Investments Co. trimmed its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,188 shares of the energy company’s stock after selling 1,237 shares during the quarter. Sei Investments Co.’s holdings in Ormat Technologies were worth $1,570,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in Ormat Technologies by 5.6% in the 4th 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 last quarter. Element Capital Management LLC purchased a new stake in shares of Ormat Technologies during the 4th quarter valued at approximately $2,113,000. Daiwa Securities Group Inc. acquired a new position in Ormat Technologies in the fourth quarter valued at approximately $752,000. Charles Schwab Investment Management Inc. grew its position in Ormat Technologies by 6.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 618,937 shares of the energy company’s stock worth $41,914,000 after acquiring an additional 39,689 shares during the period. Finally, RWC Asset Management LLP raised its position in Ormat Technologies by 348.9% in the fourth quarter. RWC Asset Management LLP now owns 165,599 shares of the energy company’s stock valued at $11,214,000 after purchasing an additional 128,705 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Stock Performance

Shares of ORA stock opened at $68.25 on Monday. The firm has a 50 day moving average of $68.05 and a two-hundred day moving average of $72.67. The stock has a market capitalization of $4.14 billion, a PE ratio of 34.82, a P/E/G ratio of 3.18 and a beta of 0.52. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. Ormat Technologies, Inc. has a 52 week low of $59.41 and a 52 week high of $84.30.

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 paid 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 yield of 0.70%. Ormat Technologies’s payout ratio is 23.53%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ORA shares. Jefferies Financial Group increased their price target on Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, March 25th. Piper Sandler assumed coverage on shares of Ormat Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $78.00 target price for the company. 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 research note on Friday, February 28th. Robert W. Baird assumed coverage on shares of Ormat Technologies in a research report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price objective for the company. Finally, Baird R W raised Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $83.56.

Insider Buying and Selling

In related news, Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $69.00, for a total value of $114,954.00. Following the completion of the transaction, the director now owns 1,910 shares in the company, valued at $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 available 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 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 in the last three months. 1.00% of the stock is owned by corporate 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.