Alliancebernstein L.P. Has $7.65 Million Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Alliancebernstein L.P. lowered its stake in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,932 shares of the energy company's stock after selling 5,518 shares during the quarter. Alliancebernstein L.P. owned about 0.19% of Ormat Technologies worth $7,648,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its position in shares of Ormat Technologies by 132.4% during the 4th 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 position 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 purchasing an additional 563 shares during the period. Mendota Financial Group LLC acquired a new stake in Ormat Technologies during the fourth quarter worth about $98,000. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Ormat Technologies during the fourth quarter worth about $182,000. Finally, Raymond James Financial Inc. bought a new position in Ormat Technologies in the 4th quarter valued at about $204,000. Institutional investors own 95.49% of the company's stock.

Ormat Technologies Trading Up 1.7 %

Ormat Technologies stock traded up $1.23 during trading hours on Thursday, hitting $71.58. The stock had a trading volume of 150,324 shares, compared to its average volume of 491,525. The business's 50 day simple moving average is $69.12 and its 200-day simple moving average is $72.25. Ormat Technologies, Inc. has a one year low of $59.57 and a one year high of $84.30. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 36.57, a P/E/G 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 disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors 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 presently 23.53%.

Insider Buying and Selling

In other news, Director David Granot sold 1,666 shares of the 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 completion of the sale, the director now owns 1,910 shares of the company's stock, valued at approximately $131,790. This represents a 46.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jessica Woelfel sold 409 shares of Ormat Technologies stock in a transaction that occurred on 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 transaction, the insider now directly owns 6,094 shares in the company, valued at approximately $439,682.10. This represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,242 shares of company stock worth $156,427 in the last ninety days. Company insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ORA. StockNews.com raised shares of Ormat Technologies from a "sell" rating to a "hold" rating in a report on Monday, April 7th. Piper Sandler began coverage on Ormat Technologies in a research note on Thursday, December 19th. They set a "neutral" rating and a $78.00 target price for the company. Jefferies Financial Group lifted their price target on Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, March 25th. Baird R W upgraded Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. Finally, JPMorgan Chase & Co. lifted their target price on Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Ormat Technologies has a consensus rating of "Hold" and an average target price of $83.56.

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.