Eaton Financial Holdings Company LLC Sells 2,793 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Eaton Financial Holdings Company LLC reduced its stake in shares of Ormat Technologies, Inc. (NYSE:ORAFree Report) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,941 shares of the energy company’s stock after selling 2,793 shares during the quarter. Ormat Technologies accounts for 1.8% of Eaton Financial Holdings Company LLC’s portfolio, making the stock its 13th largest position. Eaton Financial Holdings Company LLC owned about 0.16% of Ormat Technologies worth $7,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in ORA. GAMMA Investing LLC acquired a new position in Ormat Technologies during the 4th quarter worth $32,000. Manchester Capital Management LLC lifted its holdings in Ormat Technologies by 593.0% in the fourth quarter. Manchester Capital Management LLC now owns 797 shares of the energy company’s stock valued at $60,000 after buying an additional 682 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in Ormat Technologies in the third quarter valued at approximately $204,000. Allspring Global Investments Holdings LLC grew its holdings in Ormat Technologies by 56.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,186 shares of the energy company’s stock worth $223,000 after acquiring an additional 1,153 shares during the period. Finally, Prime Capital Investment Advisors LLC bought a new stake in shares of Ormat Technologies during the 4th quarter valued at $257,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Insiders Place Their Bets

In related news, Director Stanley Stern sold 1,825 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $66.95, for a total transaction of $122,183.75. Following the completion of the transaction, the director now owns 4,835 shares in the company, valued at $323,703.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

Ormat Technologies Stock Up 1.4 %

Shares of ORA traded up $1.00 during midday trading on Monday, hitting $73.55. The stock had a trading volume of 363,700 shares, compared to its average volume of 469,821. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 3.56 and a beta of 0.48. The company has a 50 day simple moving average of $66.62 and a two-hundred day simple moving average of $67.66. Ormat Technologies, Inc. has a twelve month low of $58.73 and a twelve month high of $88.26. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.12 and a quick ratio of 1.02.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Tuesday, May 21st. Ormat Technologies’s payout ratio is 21.62%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ORA. UBS Group lifted their price objective on Ormat Technologies from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. TD Cowen upped their price target on Ormat Technologies from $70.00 to $76.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Finally, Barclays cut their price target on shares of Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Monday, May 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $84.29.

Read Our Latest Research Report on ORA

Ormat Technologies Profile

(Free Report)

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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Institutional Ownership by Quarter for Ormat Technologies (NYSE:ORA)

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