MetLife Investment Management LLC Has $4.46 Million Position in Ormat Technologies, Inc. (NYSE:ORA)

MetLife Investment Management LLC cut its stake in Ormat Technologies, Inc. (NYSE:ORA) by 0.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,933 shares of the energy company’s stock after selling 488 shares during the period. MetLife Investment Management LLC owned approximately 0.10% of Ormat Technologies worth $4,457,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of Ormat Technologies by 180.3% during the 3rd quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock worth $26,000 after buying an additional 229 shares during the period. Harrington Investments INC lifted its stake in shares of Ormat Technologies by 3.0% in the 2nd quarter. Harrington Investments INC now owns 7,950 shares of the energy company’s stock valued at $570,000 after acquiring an additional 230 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Ormat Technologies by 1.9% during the second quarter. Arizona State Retirement System now owns 15,214 shares of the energy company’s stock valued at $1,091,000 after purchasing an additional 286 shares in the last quarter. UMB Bank n.a. grew its holdings in Ormat Technologies by 107.7% during the 3rd quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock worth $47,000 after acquiring an additional 320 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Ormat Technologies by 44.0% in the third quarter. GAMMA Investing LLC now owns 1,051 shares of the energy company’s stock valued at $81,000 after purchasing an additional 321 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

Analysts Set New Price Targets

ORA has been the subject of a number of analyst reports. Roth Mkm reissued a “buy” rating and set a $92.00 target price (up previously from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Oppenheimer upped their price objective on shares of Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.50.

Insiders Place Their Bets

In other news, Director Byron G. Wong sold 1,266 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the completion of the sale, the director now owns 6,906 shares of the company’s stock, valued at $517,811.88. The trade was a 15.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

Ormat Technologies Price Performance

Shares of Ormat Technologies stock opened at $81.62 on Monday. The firm has a market capitalization of $4.94 billion, a PE ratio of 41.64, a price-to-earnings-growth ratio of 4.22 and a beta of 0.53. Ormat Technologies, Inc. has a 12 month low of $59.41 and a 12 month high of $84.30. The business’s 50-day moving average price is $78.89 and its 200-day moving average price is $75.55. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The company had revenue of $211.80 million during the quarter, compared to analyst estimates of $215.53 million. During the same period in the prior year, the business posted $0.47 earnings per share. Ormat Technologies’s revenue for the quarter was up 1.8% on a year-over-year basis. Sell-side analysts forecast that Ormat Technologies, Inc. will post 1.93 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.59%. Ormat Technologies’s payout ratio is presently 24.49%.

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.