First Trust Advisors LP Has $15.70 Million Position in Ormat Technologies, Inc. (NYSE:ORA)

First Trust Advisors LP decreased its stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 8.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 231,776 shares of the energy company's stock after selling 22,531 shares during the quarter. First Trust Advisors LP owned approximately 0.38% of Ormat Technologies worth $15,696,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ORA. Versant Capital Management Inc lifted its holdings 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 acquiring an additional 229 shares during the period. AlphaQuest LLC grew its position in shares of Ormat Technologies by 4,691.7% in the 4th quarter. AlphaQuest LLC now owns 575 shares of the energy company's stock valued at $39,000 after acquiring an additional 563 shares during the period. Headlands Technologies LLC acquired a new position in Ormat Technologies in the 4th quarter valued at about $66,000. Mendota Financial Group LLC bought a new position in shares of Ormat Technologies during the fourth quarter worth approximately $98,000. Finally, Sterling Capital Management LLC raised its position in Ormat Technologies by 897.8% during the fourth 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 in the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Stock Performance

Shares of Ormat Technologies stock traded down $0.76 during trading on Thursday, reaching $71.84. The company's stock had a trading volume of 181,715 shares, compared to its average volume of 485,483. Ormat Technologies, Inc. has a fifty-two week low of $61.58 and a fifty-two week high of $84.30. 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 50-day moving average price of $70.58 and a two-hundred day moving average price of $72.00. The firm has a market cap of $4.35 billion, a PE ratio of 36.76, a P/E/G ratio of 3.18 and a beta of 0.52.

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. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. Ormat Technologies's dividend payout ratio (DPR) is 23.53%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Ormat Technologies

In related news, insider Jessica Woelfel sold 409 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was 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 of the company's stock, valued at $439,682.10. The trade was a 6.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David Granot sold 1,666 shares of the business'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 transaction, the director now directly owns 1,910 shares of the company's stock, valued at approximately $131,790. This trade represents a 46.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,242 shares of company stock worth $156,427 in the last 90 days. 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.