Hsbc Holdings PLC Raises Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Hsbc Holdings PLC raised its stake in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 342.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 34,141 shares of the energy company's stock after buying an additional 26,429 shares during the period. Hsbc Holdings PLC owned about 0.06% of Ormat Technologies worth $2,313,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ORA. Versant Capital Management Inc lifted 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 valued at $27,000 after acquiring an additional 229 shares during the period. AlphaQuest LLC lifted its stake 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 purchasing an additional 563 shares during the period. Headlands Technologies LLC purchased a new stake in Ormat Technologies during the fourth quarter worth $66,000. Mendota Financial Group LLC acquired a new stake in Ormat Technologies during the fourth quarter valued at $98,000. Finally, Sterling Capital Management LLC increased its holdings in Ormat Technologies by 897.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,856 shares of the energy company's stock valued at $126,000 after buying an additional 1,670 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company's stock.

Ormat Technologies Price Performance

Shares of Ormat Technologies stock traded up $0.89 during trading hours on Tuesday, reaching $72.06. 46,272 shares of the company's stock were exchanged, compared to its average volume of 484,402. The business has a fifty day moving average of $70.79 and a two-hundred day moving average of $71.80. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $4.37 billion, a P/E ratio of 36.79, a price-to-earnings-growth ratio of 3.18 and a beta of 0.65. 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 disclosed 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 payout ratio is 23.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ORA shares. Robert W. Baird began coverage on Ormat Technologies in a research report on Thursday, March 13th. They set a "neutral" rating and a $81.00 target price on the stock. Baird R W upgraded Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. Jefferies Financial Group upped their target price on Ormat Technologies from $78.00 to $86.00 and gave the stock a "buy" rating in a research note on Tuesday, March 25th. 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 report on Monday, April 7th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $83.56.

Insiders Place Their Bets

In other Ormat Technologies news, Director David Granot sold 1,666 shares of the firm's stock in a transaction 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 completion of the sale, the director now directly owns 1,910 shares of the company's stock, valued at $131,790. This trade represents a 46.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica Woelfel sold 409 shares of the business's 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 transaction, the insider now directly owns 6,094 shares in the company, valued at approximately $439,682.10. The trade was a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,242 shares of company stock valued at $156,427 in the last ninety days. 0.56% of the stock is currently owned by corporate insiders.

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.