Yelin Lapidot Holdings Management Ltd. Has $7.19 Million Stake in Ormat Technologies, Inc. (NYSE:ORA)

Yelin Lapidot Holdings Management Ltd. lowered its stake in Ormat Technologies, Inc. (NYSE:ORA) by 25.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 106,175 shares of the energy company’s stock after selling 36,045 shares during the period. Ormat Technologies makes up 1.3% of Yelin Lapidot Holdings Management Ltd.’s portfolio, making the stock its 22nd largest holding. Yelin Lapidot Holdings Management Ltd. owned 0.18% of Ormat Technologies worth $7,190,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Erste Asset Management GmbH bought a new position in Ormat Technologies in the 3rd quarter valued at about $19,096,000. Impax Asset Management Group plc increased its stake in Ormat Technologies by 7.3% in the fourth quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company’s stock valued at $162,586,000 after acquiring an additional 163,505 shares during the last quarter. Global Alpha Capital Management Ltd. raised its position in Ormat Technologies by 6.1% during the third quarter. Global Alpha Capital Management Ltd. now owns 2,446,624 shares of the energy company’s stock valued at $188,125,000 after purchasing an additional 140,882 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in Ormat Technologies by 896.6% during the fourth quarter. Handelsbanken Fonder AB now owns 155,906 shares of the energy company’s stock worth $10,558,000 after purchasing an additional 140,262 shares during the last quarter. Finally, RWC Asset Management LLP grew its position in Ormat Technologies by 348.9% in the fourth quarter. RWC Asset Management LLP now owns 165,599 shares of the energy company’s stock valued at $11,214,000 after acquiring an additional 128,705 shares during the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ORA. Oppenheimer lifted their price target on Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Jefferies Financial Group upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $73.00 to $78.00 in a research report on Thursday, February 20th. Piper Sandler initiated coverage on shares of Ormat Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price target for the company. Finally, Roth Mkm reiterated a “buy” rating and set a $92.00 price target (up previously from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Ormat Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.88.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, major shareholder Corp Orix sold 3,700,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $75.38, for a total transaction of $278,906,000.00. Following the completion of the sale, the insider now directly owns 2,976,077 shares of the company’s stock, valued at approximately $224,336,684.26. The trade was a 55.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Granot sold 1,256 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $82.00, for a total value of $102,992.00. Following the completion of the transaction, the director now owns 3,576 shares in the company, valued at $293,232. This represents a 25.99 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Ormat Technologies Trading Up 1.5 %

Shares of ORA stock opened at $69.28 on Friday. The company has a market cap of $4.19 billion, a P/E ratio of 35.35, a PEG ratio of 3.18 and a beta of 0.57. Ormat Technologies, Inc. has a fifty-two week low of $59.41 and a fifty-two week high of $84.30. The stock has a 50 day simple moving average of $66.44 and a two-hundred day simple moving average of $73.21. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Wednesday, March 12th. Ormat Technologies’s payout ratio is 23.53%.

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.