Ormat Technologies, Inc. (NYSE:ORA) Position Reduced by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its stake in Ormat Technologies, Inc. (NYSE:ORA) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,106 shares of the energy company’s stock after selling 1,589 shares during the period. Envestnet Asset Management Inc.’s holdings in Ormat Technologies were worth $1,768,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Versant Capital Management Inc raised its holdings in shares of Ormat Technologies by 132.4% during the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock worth $27,000 after acquiring an additional 229 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of Ormat Technologies by 4,691.7% during the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock worth $39,000 after acquiring an additional 563 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Ormat Technologies during the fourth quarter worth $66,000. Mendota Financial Group LLC bought a new position in Ormat Technologies during the fourth quarter valued at about $98,000. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Ormat Technologies in the 4th quarter valued at approximately $182,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Price Performance

Shares of ORA stock opened at $73.32 on Tuesday. The stock’s fifty day simple moving average is $70.42 and its 200 day simple moving average is $71.99. 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 firm has a market cap of $4.44 billion, a price-to-earnings ratio of 37.41, a P/E/G ratio of 3.18 and a beta of 0.52. Ormat Technologies, Inc. has a one year low of $61.58 and a one year high of $84.30.

Ormat Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date was Wednesday, March 12th. Ormat Technologies’s dividend payout ratio is currently 23.53%.

Insiders Place Their Bets

In other news, insider Jessica Woelfel sold 409 shares of the company’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 transaction, the insider now owns 6,094 shares of the company’s stock, valued at $439,682.10. This represents a 6.29 % decrease in their ownership of the stock. The sale 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 stock in a transaction that occurred 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 sale, the director now owns 1,910 shares in the company, valued at $131,790. This represents a 46.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,242 shares of company stock valued at $156,427. 0.56% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on ORA. JPMorgan Chase & Co. lifted their price target on Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. StockNews.com raised Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Monday, April 7th. Robert W. Baird started coverage on Ormat Technologies in a research report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price target on the stock. Baird R W upgraded Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. Finally, Jefferies Financial Group boosted their price objective on Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, March 25th. Seven equities research 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 a consensus rating of “Hold” and an average target price of $83.56.

About Ormat Technologies

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.