Soros Fund Management LLC Makes New Investment in Ormat Technologies, Inc. (NYSE:ORA)

Soros Fund Management LLC bought a new stake in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 150,000 shares of the energy company's stock, valued at approximately $10,158,000. Soros Fund Management LLC owned approximately 0.25% of Ormat Technologies at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in shares of Ormat Technologies by 2.0% in the fourth quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company's stock worth $544,000 after buying an additional 160 shares during the period. Bailard Inc. boosted its holdings in Ormat Technologies by 0.9% in the 4th quarter. Bailard Inc. now owns 19,446 shares of the energy company's stock worth $1,317,000 after acquiring an additional 169 shares during the period. Securian Asset Management Inc. grew its position in Ormat Technologies by 5.1% in the fourth quarter. Securian Asset Management Inc. now owns 4,354 shares of the energy company's stock valued at $295,000 after acquiring an additional 212 shares in the last quarter. Versant Capital Management Inc raised its stake 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 valued at $27,000 after purchasing an additional 229 shares during the period. Finally, Caprock Group LLC grew its holdings in Ormat Technologies by 4.0% during the 4th quarter. Caprock Group LLC now owns 6,080 shares of the energy company's stock valued at $412,000 after purchasing an additional 235 shares in the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Ormat Technologies Stock Performance

Shares of NYSE:ORA traded up $0.40 during trading hours on Friday, hitting $72.21. The stock had a trading volume of 289,684 shares, compared to its average volume of 486,661. The stock's fifty day simple moving average is $70.72 and its 200 day simple moving average is $71.89. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 36.84, a PEG ratio of 3.18 and a beta of 0.65. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. Ormat Technologies, Inc. has a 1-year low of $61.58 and a 1-year high of $84.30.

Ormat Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.66%. The ex-dividend date was Wednesday, March 12th. Ormat Technologies's payout ratio is currently 23.53%.

Analyst Upgrades and Downgrades

ORA has been the topic of several recent analyst reports. Jefferies Financial Group boosted their price target on Ormat Technologies from $78.00 to $86.00 and gave the stock a "buy" rating in a research note on Tuesday, March 25th. Baird R W raised shares of Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. JPMorgan Chase & Co. upped their price target on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a report on Friday, February 28th. Robert W. Baird assumed coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They set a "neutral" rating and a $81.00 price objective for the company. Finally, StockNews.com upgraded Ormat Technologies from a "sell" rating to a "hold" rating in a research note 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 MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $83.56.

Insiders Place Their Bets

In other news, 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 value of $29,509.35. Following the completion of the transaction, the insider now directly owns 6,094 shares in the company, valued at $439,682.10. This trade represents a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Granot sold 1,666 shares of the business's stock in a transaction that occurred 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 sale, the director now directly owns 1,910 shares in the company, valued at approximately $131,790. The trade was a 46.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,242 shares of company stock worth $156,427. 0.56% of the stock is owned by company insiders.

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.