Geode Capital Management LLC Has $93.03 Million Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Geode Capital Management LLC grew its holdings in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 5.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,373,426 shares of the energy company's stock after buying an additional 72,135 shares during the period. Geode Capital Management LLC owned 2.27% of Ormat Technologies worth $93,029,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Versant Capital Management Inc lifted its position 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 purchasing an additional 229 shares during the period. AlphaQuest LLC grew its holdings in Ormat Technologies by 4,691.7% during the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company's stock worth $39,000 after acquiring an additional 563 shares during the period. Mendota Financial Group LLC purchased a new position in Ormat Technologies in the fourth quarter worth $98,000. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Ormat Technologies during the 4th quarter worth $182,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Ormat Technologies in the fourth quarter valued at about $204,000. Institutional investors and hedge funds own 95.49% of the company's stock.

Ormat Technologies Price Performance

Ormat Technologies stock traded up $0.17 during midday trading on Wednesday, hitting $71.25. The company's stock had a trading volume of 26,994 shares, compared to its average volume of 491,474. The stock's 50-day moving average price is $68.99 and its 200-day moving average price is $72.26. The company has a market capitalization of $4.32 billion, a PE ratio of 36.31, 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, Inc. has a 12 month low of $59.41 and a 12 month high of $84.30.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.67%. Ormat Technologies's dividend payout ratio (DPR) is presently 23.53%.

Insider Transactions at Ormat Technologies

In related news, insider Jessica Woelfel sold 409 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total transaction 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 approximately $439,682.10. This represents a 6.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction that occurred 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 transaction, the director now directly owns 1,910 shares in the company, valued at approximately $131,790. This represents a 46.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,242 shares of company stock valued at $156,427 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ORA has been the subject of a number of research reports. Robert W. Baird began coverage on shares of Ormat Technologies in a research report on Thursday, March 13th. They set a "neutral" rating and a $81.00 price target for the company. JPMorgan Chase & Co. raised their price target on Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, February 28th. StockNews.com upgraded shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research report on Monday, April 7th. Baird R W upgraded shares of Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. Finally, Piper Sandler assumed coverage on Ormat Technologies in a report on Thursday, December 19th. They set a "neutral" rating and a $78.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $83.56.

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.