Nuveen Asset Management LLC Sells 25,819 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Nuveen Asset Management LLC lowered its stake in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 11.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 204,018 shares of the energy company's stock after selling 25,819 shares during the period. Nuveen Asset Management LLC owned approximately 0.34% of Ormat Technologies worth $13,816,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Maven Securities LTD bought a new position in Ormat Technologies during the fourth quarter valued at $339,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Ormat Technologies by 12.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,058 shares of the energy company's stock valued at $3,729,000 after acquiring an additional 6,153 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC raised its position in Ormat Technologies by 34.6% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 11,565 shares of the energy company's stock valued at $783,000 after purchasing an additional 2,972 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Ormat Technologies in the 4th quarter worth approximately $372,000. Finally, Graham Capital Management L.P. grew its stake in shares of Ormat Technologies by 36.4% in the 4th quarter. Graham Capital Management L.P. now owns 35,757 shares of the energy company's stock worth $2,421,000 after buying an additional 9,540 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company's stock.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director Dafna Sharir sold 876 shares of Ormat Technologies stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $75.00, for a total value of $65,700.00. Following the completion of the sale, the director now directly owns 4,438 shares in the company, valued at $332,850. The trade was a 16.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica Woelfel sold 409 shares of Ormat Technologies stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total transaction of $29,509.35. Following the completion of the transaction, the insider now directly owns 6,094 shares in the company, valued at approximately $439,682.10. This represents a 6.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,068 shares of company stock worth $291,572 in the last ninety days. 0.56% of the stock is owned by insiders.

Ormat Technologies Stock Performance

ORA traded up $0.85 on Friday, reaching $74.49. The company had a trading volume of 478,839 shares, compared to its average volume of 484,006. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $4.51 billion, a PE ratio of 38.01, a P/E/G ratio of 3.18 and a beta of 0.65. Ormat Technologies, Inc. has a 1 year low of $61.58 and a 1 year high of $84.30. The stock has a 50-day moving average price of $71.67 and a 200-day moving average price of $70.91.

Ormat Technologies (NYSE:ORA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The energy company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.10. The company had revenue of $229.76 million for the quarter, compared to analyst estimates of $228.33 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 earnings per share. As a group, research analysts forecast that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Wednesday, May 21st. Ormat Technologies's payout ratio is 23.30%.

Analysts Set New Price Targets

Several brokerages have commented on ORA. Wall Street Zen upgraded Ormat Technologies from a "sell" rating to a "hold" rating in a research note on Monday, April 7th. Baird R W upgraded Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. Jefferies Financial Group lifted their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, March 25th. Robert W. Baird assumed coverage on Ormat Technologies in a research report on Thursday, March 13th. They set a "neutral" rating and a $81.00 price objective for the company. Finally, Barclays upped their price objective on Ormat Technologies from $75.00 to $80.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $83.29.

Ormat Technologies Company Profile

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.