Schroder Investment Management Group Reduces Position in Ormat Technologies, Inc. (NYSE:ORA)

Schroder Investment Management Group reduced its stake in Ormat Technologies, Inc. (NYSE:ORA) by 92.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 697,376 shares of the energy company’s stock after selling 8,649,493 shares during the quarter. Schroder Investment Management Group owned about 1.15% of Ormat Technologies worth $47,226,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Norges Bank purchased a new position in Ormat Technologies in the 4th quarter valued at about $62,851,000. Vanguard Group Inc. lifted its stake in shares of Ormat Technologies by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company’s stock valued at $409,305,000 after buying an additional 274,540 shares during the period. Erste Asset Management GmbH acquired a new stake in Ormat Technologies during the third quarter worth approximately $19,096,000. Impax Asset Management Group plc grew its stake in Ormat Technologies by 7.3% in the 4th quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company’s stock worth $162,586,000 after acquiring an additional 163,505 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in Ormat Technologies by 896.6% in the 4th quarter. Handelsbanken Fonder AB now owns 155,906 shares of the energy company’s stock valued at $10,558,000 after acquiring an additional 140,262 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Stock Up 0.3 %

Shares of Ormat Technologies stock opened at $70.81 on Tuesday. Ormat Technologies, Inc. has a twelve month low of $59.41 and a twelve month high of $84.30. The stock has a market cap 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. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The company has a fifty day moving average price of $67.66 and a 200 day moving average price of $72.82.

Ormat Technologies Announces Dividend

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

Insider Activity at Ormat Technologies

In related news, insider Jessica Woelfel sold 409 shares of Ormat Technologies stock in a transaction 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 sale, the insider now owns 6,094 shares of the company’s stock, valued at $439,682.10. The trade was a 6.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction of $114,954.00. Following the completion of the transaction, the director now owns 1,910 shares in the company, valued at $131,790. This represents a 46.59 % decrease in their position. 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 currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ORA. 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 objective for the company. 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 price objective for the company. JPMorgan Chase & Co. raised their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Jefferies Financial Group upped their price target on shares of Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, March 25th. Finally, Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Ormat Technologies has an average rating of “Hold” and a consensus 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.