Tudor Investment Corp ET AL Makes New $2.14 Million Investment in Ormat Technologies, Inc. (NYSE:ORA)

Tudor Investment Corp ET AL purchased a new stake in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 31,659 shares of the energy company's stock, valued at approximately $2,144,000. Tudor Investment Corp ET AL owned about 0.05% of Ormat Technologies at the end of the most recent quarter.

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

Insider Activity

In related news, Director David Granot sold 1,666 shares of the company'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 sale, the director now directly owns 1,910 shares of the company's stock, valued at $131,790. This represents a 46.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica Woelfel sold 409 shares of the stock in a transaction 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 owns 6,094 shares of the company's stock, valued at approximately $439,682.10. This trade represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,242 shares of company stock valued at $156,427. Corporate insiders own 0.56% of the company's stock.

Analyst Ratings Changes

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

Ormat Technologies Price Performance

ORA opened at $72.21 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. The stock has a market capitalization of $4.38 billion, a PE ratio of 36.84, a price-to-earnings-growth ratio of 3.18 and a beta of 0.65. The stock's 50 day moving average price is $70.72 and its 200-day moving average price is $71.89. Ormat Technologies, Inc. has a 52-week low of $61.58 and a 52-week high of $84.30.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were given a $0.12 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.66%. Ormat Technologies's dividend payout ratio is 23.53%.

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.

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