Invesco Ltd. Purchases 6,702 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Invesco Ltd. grew its position in Ormat Technologies, Inc. (NYSE:ORA) by 3.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 225,851 shares of the energy company’s stock after purchasing an additional 6,702 shares during the quarter. Invesco Ltd.’s holdings in Ormat Technologies were worth $15,295,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Tidal Investments LLC raised its holdings in shares of Ormat Technologies by 36.8% in the 3rd quarter. Tidal Investments LLC now owns 45,642 shares of the energy company’s stock valued at $3,512,000 after purchasing an additional 12,272 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Ormat Technologies by 132.4% during the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock worth $27,000 after buying an additional 229 shares during the period. Mendota Financial Group LLC bought a new stake in Ormat Technologies during the 4th quarter valued at $98,000. Inspire Investing LLC increased its holdings in shares of Ormat Technologies by 11.0% in the 4th quarter. Inspire Investing LLC now owns 5,914 shares of the energy company’s stock valued at $400,000 after acquiring an additional 586 shares during the period. Finally, Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management raised its position in shares of Ormat Technologies by 57.3% in the 4th quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 223,937 shares of the energy company’s stock worth $15,165,000 after acquiring an additional 81,547 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ORA shares. JPMorgan Chase & Co. raised 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. Robert W. Baird assumed coverage on Ormat Technologies in a research report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price target on the stock. Jefferies Financial Group raised their price objective on Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, March 25th. Baird R W raised Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. Finally, StockNews.com raised Ormat Technologies from a “sell” rating to a “hold” rating in a report on Monday, April 7th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $83.56.

Ormat Technologies Stock Up 1.7 %

Shares of NYSE ORA opened at $71.58 on Monday. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $69.43 and its two-hundred day moving average is $72.13. Ormat Technologies, Inc. has a 52-week low of $61.58 and a 52-week high of $84.30. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 36.52, a PEG ratio of 3.18 and a beta of 0.52.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.67%. Ormat Technologies’s dividend payout ratio (DPR) is 23.53%.

Insiders Place Their Bets

In other news, 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 transaction of $114,954.00. Following the sale, the director now owns 1,910 shares in the company, valued at approximately $131,790. The trade was a 46.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica Woelfel sold 409 shares of Ormat Technologies 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 transaction, the insider now directly owns 6,094 shares in the company, valued at $439,682.10. The trade was a 6.29 % 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 worth $156,427 over the last 90 days. Corporate insiders own 0.56% of the company’s stock.

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.