Meitav Investment House Ltd. Sells 147,626 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Meitav Investment House Ltd. lessened its stake in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 22.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 522,519 shares of the energy company's stock after selling 147,626 shares during the quarter. Meitav Investment House Ltd. owned approximately 0.87% of Ormat Technologies worth $39,872,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. IFP Advisors Inc grew its position in shares of Ormat Technologies by 248.0% during the 2nd quarter. IFP Advisors Inc now owns 428 shares of the energy company's stock valued at $34,000 after acquiring an additional 305 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Ormat Technologies by 43.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,008 shares of the energy company's stock worth $87,000 after buying an additional 303 shares during the last quarter. Toroso Investments LLC boosted its holdings in Ormat Technologies by 15.8% in the 3rd quarter. Toroso Investments LLC now owns 1,065 shares of the energy company's stock worth $91,000 after buying an additional 145 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Ormat Technologies in the 2nd quarter worth about $110,000. Finally, FMR LLC boosted its holdings in Ormat Technologies by 13.0% in the 2nd quarter. FMR LLC now owns 1,465 shares of the energy company's stock worth $115,000 after buying an additional 169 shares during the last quarter. Institutional investors own 95.49% of the company's stock.

Ormat Technologies Trading Up 2.2 %

NYSE ORA traded up $1.45 on Thursday, reaching $66.04. The stock had a trading volume of 610,301 shares, compared to its average volume of 451,830. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of 31.60, a P/E/G ratio of 2.94 and a beta of 0.48. The company has a quick ratio of 1.12, a current ratio of 1.20 and a debt-to-equity ratio of 0.64. Ormat Technologies, Inc. has a 12-month low of $58.73 and a 12-month high of $88.64. The stock has a fifty day moving average price of $65.40 and a two-hundred day moving average price of $67.42.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.60 by $0.07. The business had revenue of $241.30 million during the quarter, compared to the consensus estimate of $239.71 million. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. The company's quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.73 earnings per share. As a group, sell-side analysts forecast that Ormat Technologies, Inc. will post 2.2 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.73%. Ormat Technologies's payout ratio is currently 22.97%.

Insider Buying and Selling

In related news, Director Stanley Stern sold 1,825 shares of the business's stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $66.95, for a total transaction of $122,183.75. Following the completion of the transaction, the director now owns 4,835 shares in the company, valued at $323,703.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ORA shares. TD Cowen decreased their target price on shares of Ormat Technologies from $74.00 to $70.00 and set a "market perform" rating on the stock in a research note on Friday, February 23rd. Oppenheimer decreased their target price on shares of Ormat Technologies from $84.00 to $83.00 and set an "outperform" rating on the stock in a research note on Friday, January 19th. Finally, Barclays decreased their target price on shares of Ormat Technologies from $82.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Monday, February 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $81.00.

Ormat Technologies 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.

Want to see what other hedge funds are holding ORA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ormat Technologies, Inc. (NYSE:ORA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.