BI Asset Management Fondsmaeglerselskab A S Purchases 6,020 Shares of Ormat Technologies, Inc. (NYSE:ORA)

BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 783.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,788 shares of the energy company's stock after acquiring an additional 6,020 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Ormat Technologies were worth $460,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Ormat Technologies by 6.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,586,479 shares of the energy company's stock worth $107,440,000 after acquiring an additional 93,418 shares in the last quarter. GeoWealth Management LLC raised its stake in Ormat Technologies by 21.2% during the fourth quarter. GeoWealth Management LLC now owns 4,775 shares of the energy company's stock valued at $323,000 after purchasing an additional 835 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Ormat Technologies by 3.7% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 65,044 shares of the energy company's stock valued at $4,399,000 after purchasing an additional 2,344 shares during the last quarter. Altshuler Shaham Ltd grew its stake in shares of Ormat Technologies by 215.1% in the 4th quarter. Altshuler Shaham Ltd now owns 15,722 shares of the energy company's stock worth $1,081,000 after buying an additional 10,732 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new position in shares of Ormat Technologies in the 4th quarter worth $588,000. Institutional investors own 95.49% of the company's stock.

Insider Transactions 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 stock was sold at an average price of $69.00, for a total transaction of $114,954.00. Following the completion of the sale, the director now owns 1,910 shares in the company, valued at $131,790. This represents 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 at the SEC website. Also, 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 value of $29,509.35. Following the completion of the transaction, the insider now owns 6,094 shares in the company, valued at $439,682.10. This represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,242 shares of company stock valued at $156,427. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ORA. Jefferies Financial Group boosted their price objective on Ormat Technologies from $78.00 to $86.00 and gave the stock a "buy" rating in a research note on Tuesday, March 25th. StockNews.com upgraded Ormat Technologies from a "sell" rating to a "hold" rating in a report on Monday, April 7th. JPMorgan Chase & Co. lifted their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, February 28th. Baird R W raised shares of Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. Finally, Robert W. Baird assumed coverage on shares of Ormat Technologies in a research note on Thursday, March 13th. They set a "neutral" rating and a $81.00 price target for the company. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Ormat Technologies has an average rating of "Hold" and a consensus target price of $83.56.

Ormat Technologies Trading Down 1.3 %

Shares of Ormat Technologies stock traded down $0.93 on Wednesday, hitting $72.63. 935,776 shares of the company traded hands, compared to its average volume of 486,482. 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 market cap of $4.40 billion, a PE ratio of 37.06, a PEG ratio of 3.18 and a beta of 0.52. The stock's 50 day moving average price is $70.58 and its 200-day moving average price is $72.00. Ormat Technologies, Inc. has a 52 week low of $61.58 and a 52 week high of $84.30.

Ormat Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were issued a $0.12 dividend. This represents a $0.48 annualized dividend 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 23.53%.

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.