UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 244,517 Shares of Ormat Technologies, Inc. (NYSE:ORA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 56.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 190,984 shares of the energy company's stock after selling 244,517 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.32% of Ormat Technologies worth $12,933,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of ORA. Pacer Advisors Inc. boosted its position in Ormat Technologies by 2.0% in the fourth quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company's stock valued at $544,000 after buying an additional 160 shares in the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of Ormat Technologies by 16.4% in the 4th quarter. Perigon Wealth Management LLC now owns 3,162 shares of the energy company's stock worth $214,000 after acquiring an additional 446 shares during the last quarter. Caprock Group LLC raised its holdings in Ormat Technologies by 4.0% in the 4th quarter. Caprock Group LLC now owns 6,080 shares of the energy company's stock worth $412,000 after purchasing an additional 235 shares in the last quarter. Everett Harris & Co. CA grew its stake in shares of Ormat Technologies by 40.0% in the fourth quarter. Everett Harris & Co. CA now owns 7,000 shares of the energy company's stock worth $474,000 after acquiring an additional 2,000 shares during the period. Finally, Retirement Systems of Alabama boosted its position in shares of Ormat Technologies by 6.8% in the fourth quarter. Retirement Systems of Alabama now owns 69,805 shares of the energy company's stock worth $4,727,000 after purchasing an additional 4,447 shares during the period. 95.49% of the stock is owned by institutional investors.

Insider Buying and Selling at Ormat Technologies

In other news, Director Dafna Sharir sold 876 shares of Ormat Technologies stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $75.00, for a total value of $65,700.00. Following the sale, the director now directly owns 4,438 shares of the company's stock, valued at $332,850. The trade was a 16.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David Granot sold 950 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $73.10, for a total value of $69,445.00. Following the completion of the transaction, the director now owns 2,713 shares in the company, valued at approximately $198,320.30. The trade was a 25.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,402 shares of company stock worth $176,618 in the last quarter. 0.56% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ORA. Baird R W upgraded Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. Jefferies Financial Group increased their price target on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, March 25th. Robert W. Baird assumed coverage on Ormat Technologies in a report on Thursday, March 13th. They issued a "neutral" rating and a $81.00 price target for the company. JPMorgan Chase & Co. boosted their price target on Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, February 28th. Finally, Barclays lifted their price objective on shares of Ormat Technologies from $75.00 to $80.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $83.29.

Ormat Technologies Stock Down 1.0%

Shares of NYSE ORA traded down $0.71 during midday trading on Monday, hitting $73.62. 128,044 shares of the stock traded hands, compared to its average volume of 482,603. The business has a 50 day moving average price of $71.67 and a two-hundred day moving average price of $70.85. Ormat Technologies, Inc. has a one year low of $61.58 and a one year high of $84.30. The company has a market cap of $4.46 billion, a PE ratio of 37.52, a P/E/G ratio of 3.18 and a beta of 0.65. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95.

Ormat Technologies (NYSE:ORA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.10. The firm had revenue of $229.76 million for the quarter, compared to analysts' expectations of $228.33 million. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The company's revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 EPS. On average, equities analysts predict that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 21st will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Wednesday, May 21st. Ormat Technologies's payout ratio is 23.30%.

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.