Ormat Technologies, Inc. (ORA) Holdings Decreased by Metropolitan Life Insurance Co. NY

Metropolitan Life Insurance Co. NY cut its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 52.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,864 shares of the energy company’s stock after selling 14,233 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Ormat Technologies were worth $823,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Teachers Advisors LLC increased its position in shares of Ormat Technologies by 29.1% during the fourth quarter. Teachers Advisors LLC now owns 404,442 shares of the energy company’s stock valued at $25,868,000 after acquiring an additional 91,074 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Ormat Technologies by 3.5% during the fourth quarter. Renaissance Technologies LLC now owns 1,316,651 shares of the energy company’s stock valued at $84,213,000 after acquiring an additional 44,494 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Ormat Technologies during the fourth quarter valued at about $918,000. Impax Asset Management LTD boosted its stake in shares of Ormat Technologies by 9.2% in the fourth quarter. Impax Asset Management LTD now owns 661,492 shares of the energy company’s stock valued at $42,309,000 after purchasing an additional 55,697 shares during the period. Finally, Investec Asset Management LTD boosted its stake in shares of Ormat Technologies by 45.7% in the fourth quarter. Investec Asset Management LTD now owns 64,945 shares of the energy company’s stock valued at $4,154,000 after purchasing an additional 20,361 shares during the period. Institutional investors and hedge funds own 70.55% of the company’s stock.

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NYSE ORA opened at $55.79 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.61. Ormat Technologies, Inc. has a one year low of $53.45 and a one year high of $70.68. The company has a market capitalization of $2,877.96, a PE ratio of 18.66, a price-to-earnings-growth ratio of 1.78 and a beta of 1.37.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Wednesday, March 14th were paid a $0.23 dividend. This is a positive change from Ormat Technologies’s previous quarterly dividend of $0.08. The ex-dividend date was Tuesday, March 13th. This represents a $0.92 annualized dividend and a dividend yield of 1.65%. Ormat Technologies’s dividend payout ratio (DPR) is presently 30.77%.

ORA has been the subject of several recent research reports. Zacks Investment Research raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research note on Saturday, January 27th. Roth Capital lowered their price objective on shares of Ormat Technologies from $70.00 to $67.00 and set a “buy” rating for the company in a research note on Friday, March 2nd. Cowen set a $67.00 price objective on shares of Ormat Technologies and gave the company a “buy” rating in a research note on Thursday, March 1st. Guggenheim initiated coverage on shares of Ormat Technologies in a research note on Monday, January 8th. They issued a “buy” rating and a $72.00 price objective for the company. Finally, Oppenheimer reissued a “market perform” rating on shares of Ormat Technologies in a research note on Friday. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $68.57.

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Ormat Technologies Company Profile

Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.

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

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