Metropolitan Life Insurance Co. NY Sells 267 Shares of Ormat Technologies, Inc. (ORA)

Metropolitan Life Insurance Co. NY cut its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,961 shares of the energy company’s stock after selling 267 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Ormat Technologies were worth $1,539,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. raised its position in Ormat Technologies by 0.5% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 11,131 shares of the energy company’s stock worth $633,000 after buying an additional 60 shares during the period. Capital One National Association raised its position in Ormat Technologies by 1.0% in the first quarter. Capital One National Association now owns 11,777 shares of the energy company’s stock worth $672,000 after buying an additional 117 shares during the period. Navellier & Associates Inc raised its position in Ormat Technologies by 2.3% in the first quarter. Navellier & Associates Inc now owns 8,090 shares of the energy company’s stock worth $462,000 after buying an additional 180 shares during the period. SG Americas Securities LLC raised its position in Ormat Technologies by 16.6% in the first quarter. SG Americas Securities LLC now owns 2,285 shares of the energy company’s stock worth $130,000 after buying an additional 326 shares during the period. Finally, Victory Capital Management Inc. raised its position in Ormat Technologies by 13.5% in the first quarter. Victory Capital Management Inc. now owns 3,369 shares of the energy company’s stock worth $192,000 after buying an additional 400 shares during the period. 45.81% of the stock is currently owned by hedge funds and other institutional investors.

Ormat Technologies, Inc. (NYSE:ORA) opened at 58.79 on Friday. Ormat Technologies, Inc. has a 52-week low of $44.66 and a 52-week high of $61.49. The company’s 50 day moving average is $59.03 and its 200-day moving average is $57.11. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 29.66 and a beta of 1.19.

Ormat Technologies (NYSE:ORA) last released its earnings results on Monday, May 8th. The energy company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.05. The firm had revenue of $189.90 million for the quarter, compared to the consensus estimate of $177.42 million. Ormat Technologies had a net margin of 14.26% and a return on equity of 10.05%. The company’s revenue was up 25.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 EPS. Equities analysts anticipate that Ormat Technologies, Inc. will post $2.30 EPS for the current fiscal year.

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A number of research analysts have weighed in on the stock. Cowen and Company set a $67.00 price objective on shares of Ormat Technologies and gave the company a “buy” rating in a research note on Monday, July 17th. J P Morgan Chase & Co raised shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $65.00 to $71.00 in a research note on Wednesday, June 7th. Barclays PLC raised shares of Ormat Technologies from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $54.00 to $59.00 in a research note on Friday, May 26th. Oppenheimer Holdings, Inc. set a $65.00 price objective on shares of Ormat Technologies and gave the company a “buy” rating in a research note on Thursday, May 4th. Finally, BidaskClub lowered shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $65.25.

In related news, Director Robert F. Clarke sold 15,000 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $56.97, for a total value of $854,550.00. Following the transaction, the director now owns 7,500 shares in the company, valued at approximately $427,275. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Zvi Krieger sold 7,704 shares of the company’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $57.81, for a total transaction of $445,368.24. Following the completion of the transaction, the vice president now owns 7,704 shares in the company, valued at approximately $445,368.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,854 shares of company stock worth $3,300,521. 22.97% of the stock is currently owned by company insiders.

About Ormat Technologies

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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