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

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

Several other institutional investors also recently modified their holdings of ORA. Tidal Investments LLC boosted its stake in Ormat Technologies by 36.8% during the 3rd quarter. Tidal Investments LLC now owns 45,642 shares of the energy company's stock worth $3,512,000 after acquiring an additional 12,272 shares during the last quarter. Versant Capital Management Inc raised its holdings in 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 purchasing an additional 229 shares during the period. Mendota Financial Group LLC bought a new position in shares of Ormat Technologies during the fourth quarter worth $98,000. Inspire Investing LLC grew its holdings in shares of Ormat Technologies by 11.0% in the 4th quarter. Inspire Investing LLC now owns 5,914 shares of the energy company's stock valued at $400,000 after buying an additional 586 shares during the period. Finally, Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management grew its holdings in shares of Ormat Technologies by 57.3% in the 4th quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 223,937 shares of the energy company's stock valued at $15,165,000 after buying an additional 81,547 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director David Granot sold 1,666 shares of the company's stock in a transaction 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 sale, the director now directly owns 1,910 shares of the company's stock, valued at approximately $131,790. This represents a 46.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jessica Woelfel sold 409 shares of Ormat Technologies stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total transaction of $29,509.35. Following the completion of the transaction, the insider now directly owns 6,094 shares of the company's stock, valued at approximately $439,682.10. This trade represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,242 shares of company stock worth $156,427 over the last ninety days. 0.56% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Baird R W upgraded Ormat Technologies to a "hold" rating in a report on Thursday, March 13th. Jefferies Financial Group lifted their price objective on Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a report on Tuesday, March 25th. Robert W. Baird assumed coverage on Ormat Technologies in a research note on Thursday, March 13th. They set a "neutral" rating and a $81.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, February 28th. Finally, StockNews.com raised shares of 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 assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $83.56.

Ormat Technologies Stock Up 0.6 %

NYSE:ORA traded up $0.40 on Friday, hitting $72.21. 289,684 shares of the company's stock were exchanged, compared to its average volume of 485,826. The firm has a 50-day moving average price of $70.72 and a 200-day moving average price of $71.93. Ormat Technologies, Inc. has a 52 week low of $61.58 and a 52 week 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 company has a market cap of $4.38 billion, a P/E ratio of 36.84, a price-to-earnings-growth ratio of 3.18 and a beta of 0.52.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 0.66%. Ormat Technologies's dividend payout ratio (DPR) is presently 23.53%.

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.