Price T Rowe Associates Inc. MD Sells 147,086 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Price T Rowe Associates Inc. MD trimmed its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 41.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 208,641 shares of the energy company’s stock after selling 147,086 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.34% of Ormat Technologies worth $14,130,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in shares of Ormat Technologies by 132.4% in the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock worth $27,000 after buying an additional 229 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of Ormat Technologies by 4,691.7% during the 4th 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 bought a new position in shares of Ormat Technologies during the 4th quarter valued at approximately $66,000. Mendota Financial Group LLC purchased a new position in shares of Ormat Technologies in the fourth quarter valued at $98,000. Finally, Sterling Capital Management LLC increased its position in Ormat Technologies by 897.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,856 shares of the energy company’s stock worth $126,000 after purchasing an additional 1,670 shares during the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Ormat Technologies Price Performance

ORA opened at $72.21 on Friday. The business has a fifty day moving average of $70.72 and a 200 day moving average of $71.93. The stock has a market cap of $4.38 billion, a P/E ratio of 36.84, a PEG 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 $61.58 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. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Wednesday, March 12th. Ormat Technologies’s dividend payout ratio is currently 23.53%.

Insider Transactions at Ormat Technologies

In related news, insider Jessica Woelfel sold 409 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total value 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Granot sold 1,666 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total value of $114,954.00. Following 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,242 shares of company stock worth $156,427. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

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

Ormat Technologies Company 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.