Tower Research Capital LLC TRC Has $482,000 Stake in Ormat Technologies, Inc. (NYSE:ORA)

Tower Research Capital LLC TRC boosted its position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 189.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,120 shares of the energy company's stock after purchasing an additional 4,660 shares during the period. Tower Research Capital LLC TRC's holdings in Ormat Technologies were worth $482,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in shares of Ormat Technologies by 5.6% in the fourth quarter. Principal Financial Group Inc. now owns 131,906 shares of the energy company's stock worth $8,933,000 after acquiring an additional 7,025 shares during the last quarter. Vanguard Group Inc. raised its stake in 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 last quarter. Element Capital Management LLC purchased a new position in Ormat Technologies in the 4th quarter valued at about $2,113,000. Daiwa Securities Group Inc. acquired a new stake in shares of Ormat Technologies during the 4th quarter worth about $752,000. Finally, Franklin Resources Inc. purchased a new stake in shares of Ormat Technologies during the fourth quarter worth about $526,000. 95.49% of the stock is owned by institutional investors and hedge funds.

Ormat Technologies Stock Down 1.1 %

NYSE ORA traded down $0.78 during trading hours on Monday, reaching $71.43. 50,163 shares of the company traded hands, compared to its average volume of 484,965. The company has a 50 day moving average of $70.72 and a two-hundred day moving average of $71.85. The stock has a market capitalization of $4.33 billion, a PE ratio of 36.37, a PEG ratio of 3.18 and a beta of 0.65. Ormat Technologies, Inc. has a 12 month low of $61.58 and a 12 month high of $84.30. The company has a current ratio of 0.95, a quick ratio of 0.87 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. Shareholders of record on Wednesday, March 12th were issued 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 23.53%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. StockNews.com upgraded shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research report on Monday, April 7th. JPMorgan Chase & Co. raised their price objective on Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, February 28th. Jefferies Financial Group upped their target price 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 raised Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. Finally, Robert W. Baird initiated coverage on Ormat Technologies in a report on Thursday, March 13th. They issued a "neutral" rating and a $81.00 price target for the company. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $83.56.

Insider Activity

In related news, Director David Granot sold 1,666 shares of the firm's 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 sale, the director now directly owns 1,910 shares in the company, valued at $131,790. This trade represents a 46.59 % decrease in their position. The transaction 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 firm'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 transaction, the insider now directly owns 6,094 shares in the company, valued at $439,682.10. This trade represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,242 shares of company stock valued at $156,427. Company insiders own 0.56% of the company's stock.

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.