Guggenheim Capital LLC Grows Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Guggenheim Capital LLC boosted its position in Ormat Technologies, Inc. (NYSE:ORA) by 18.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 7,087 shares of the energy company’s stock after purchasing an additional 1,080 shares during the period. Guggenheim Capital LLC’s holdings in Ormat Technologies were worth $480,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new position in shares of Ormat Technologies in the fourth quarter valued at approximately $375,000. Summit Investment Advisors Inc. boosted its position in Ormat Technologies by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 17,549 shares of the energy company’s stock worth $1,188,000 after purchasing an additional 1,121 shares during the last quarter. Sterling Capital Management LLC grew its stake in Ormat Technologies by 897.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,856 shares of the energy company’s stock valued at $126,000 after purchasing an additional 1,670 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Ormat Technologies during the 4th quarter valued at $204,000. Finally, Martingale Asset Management L P bought a new stake in shares of Ormat Technologies during the 4th quarter worth $1,112,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Price Performance

Ormat Technologies stock opened at $73.12 on Friday. The firm has a market capitalization of $4.43 billion, a P/E ratio of 37.31, a PEG 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. 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 business has a fifty day moving average price of $70.28 and a 200-day moving average price of $72.03.

Ormat Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders 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 annualized dividend and a yield of 0.66%. Ormat Technologies’s dividend payout ratio is currently 23.53%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Baird R W raised shares of Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. Robert W. Baird began coverage on Ormat Technologies in a report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price objective for the company. Jefferies Financial Group raised their target price on Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, March 25th. Finally, StockNews.com raised Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Monday, April 7th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $83.56.

Insider Buying and Selling at Ormat Technologies

In related news, Director David Granot sold 1,666 shares of the business’s stock in a transaction dated 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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. The trade was a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,242 shares of company stock valued at $156,427 in the last quarter. 0.56% of the stock is currently 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.