LPL Financial LLC Sells 12,213 Shares of Ormat Technologies, Inc. (NYSE:ORA)

LPL Financial LLC decreased its holdings in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 64.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,836 shares of the energy company's stock after selling 12,213 shares during the quarter. LPL Financial LLC's holdings in Ormat Technologies were worth $463,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Impax Asset Management Group plc raised its holdings in shares of Ormat Technologies by 7.3% during the fourth quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company's stock valued at $162,586,000 after acquiring an additional 163,505 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Ormat Technologies by 6.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 618,937 shares of the energy company's stock worth $41,914,000 after buying an additional 39,689 shares during the period. Y.D. More Investments Ltd grew its holdings in shares of Ormat Technologies by 13.2% during the fourth quarter. Y.D. More Investments Ltd now owns 524,416 shares of the energy company's stock valued at $36,030,000 after buying an additional 61,236 shares in the last quarter. Van ECK Associates Corp raised its position in Ormat Technologies by 8.6% during the fourth quarter. Van ECK Associates Corp now owns 418,653 shares of the energy company's stock valued at $28,352,000 after buying an additional 33,279 shares during the period. Finally, Erste Asset Management GmbH lifted its stake in Ormat Technologies by 17.0% in the 4th quarter. Erste Asset Management GmbH now owns 288,487 shares of the energy company's stock worth $19,597,000 after acquiring an additional 41,915 shares in the last quarter. Institutional investors own 95.49% of the company's stock.

Insider Activity at Ormat Technologies

In other news, insider Jessica Woelfel sold 409 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were 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 approximately $439,682.10. This trade represents a 6.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Granot sold 1,666 shares of Ormat Technologies 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 sale, the director now directly owns 1,910 shares of the company's stock, valued at $131,790. This 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 valued at $156,427 over the last ninety days. 0.56% of the stock is owned by insiders.

Ormat Technologies Price Performance

NYSE:ORA traded up $0.19 on Thursday, reaching $72.79. The stock had a trading volume of 21,147 shares, compared to its average volume of 518,928. The stock has a fifty day moving average price of $70.58 and a 200-day moving average price of $72.00. Ormat Technologies, Inc. has a 1-year low of $61.58 and a 1-year high of $84.30. The company has a market capitalization of $4.41 billion, a P/E ratio of 37.13, a price-to-earnings-growth 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 Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Ormat Technologies 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.