Hsbc Holdings PLC Has $2.31 Million Position in Ormat Technologies, Inc. (NYSE:ORA)

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

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. increased its holdings in Ormat Technologies by 5.6% during the 4th quarter. Principal Financial Group Inc. now owns 131,906 shares of the energy company's stock worth $8,933,000 after purchasing an additional 7,025 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Ormat Technologies by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company's stock valued at $409,305,000 after purchasing an additional 274,540 shares during the period. Element Capital Management LLC acquired a new stake in shares of Ormat Technologies in the fourth quarter valued at approximately $2,113,000. Daiwa Securities Group Inc. bought a new position in shares of Ormat Technologies during the 4th quarter worth approximately $752,000. Finally, Franklin Resources Inc. acquired a new position in shares of Ormat Technologies during the 4th quarter worth approximately $526,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, insider Jessica Woelfel sold 409 shares of the business's 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 sale, the insider now 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 document filed with the SEC, which is available through the SEC website. Also, Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $69.00, for a total value of $114,954.00. Following the transaction, the director now directly owns 1,910 shares in the company, valued at $131,790. The trade was a 46.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,242 shares of company stock worth $156,427 in the last 90 days. Insiders own 0.56% of the company's stock.

Ormat Technologies Price Performance

ORA stock traded up $0.40 during trading on Friday, reaching $72.21. 289,684 shares of the company were exchanged, compared to its average volume of 486,661. Ormat Technologies, Inc. has a twelve month low of $61.58 and a twelve month 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 capitalization of $4.38 billion, a price-to-earnings ratio of 36.84, a P/E/G ratio of 3.18 and a beta of 0.65. The company has a 50-day moving average of $70.72 and a two-hundred day moving average of $71.89.

Ormat Technologies Dividend Announcement

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