MetLife Investment Management LLC Has $4.47 Million Position in Ormat Technologies, Inc. (NYSE:ORA)

MetLife Investment Management LLC lifted its holdings in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 13.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,954 shares of the energy company's stock after purchasing an additional 8,021 shares during the period. MetLife Investment Management LLC owned 0.11% of Ormat Technologies worth $4,466,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ORA. Versant Capital Management Inc increased its holdings in shares of Ormat Technologies by 132.4% during the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company's stock worth $27,000 after purchasing an additional 229 shares during the period. AlphaQuest LLC increased its holdings in shares of Ormat Technologies by 4,691.7% during the 4th quarter. AlphaQuest LLC now owns 575 shares of the energy company's stock worth $39,000 after purchasing an additional 563 shares during the period. Headlands Technologies LLC bought a new position in shares of Ormat Technologies during the 4th quarter worth about $66,000. Mendota Financial Group LLC bought a new position in shares of Ormat Technologies during the 4th quarter worth about $98,000. Finally, Sterling Capital Management LLC increased its stake in Ormat Technologies by 897.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,856 shares of the energy company's stock valued at $126,000 after acquiring an additional 1,670 shares during the period. Institutional investors and hedge funds own 95.49% of the company's stock.

Insider Activity at Ormat Technologies

In other Ormat Technologies news, Director David Granot sold 1,666 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $69.00, for a total transaction of $114,954.00. Following the completion of the transaction, the director now owns 1,910 shares of the company's stock, valued at approximately $131,790. The trade was a 46.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica Woelfel sold 409 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total value of $29,509.35. Following the transaction, the insider now directly owns 6,094 shares of the company's stock, valued at approximately $439,682.10. The trade was a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,242 shares of company stock valued at $156,427 over the last quarter. 0.56% of the stock is owned by corporate insiders.

Ormat Technologies Stock Performance

Shares of Ormat Technologies stock traded down $1.02 on Wednesday, hitting $72.55. The stock had a trading volume of 61,643 shares, compared to its average volume of 482,657. Ormat Technologies, Inc. has a twelve month low of $61.58 and a twelve month high of $84.30. The business's 50 day moving average is $70.51 and its two-hundred day moving average is $72.00. 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 cap of $4.40 billion, a price-to-earnings ratio of 37.01, a price-to-earnings-growth ratio of 3.18 and a beta of 0.52.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Wednesday, March 12th. Ormat Technologies's dividend payout ratio (DPR) is presently 23.53%.

Analysts Set New Price Targets

A number of research firms recently weighed in on ORA. Jefferies Financial Group upped their target price 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. JPMorgan Chase & Co. upped their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, February 28th. Robert W. Baird started coverage on shares of Ormat Technologies in a research note on Thursday, March 13th. They set a "neutral" rating and a $81.00 price objective on the stock. Baird R W raised shares of Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. Finally, StockNews.com raised shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research note on Monday, April 7th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $83.56.

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.