Ormat Technologies, Inc. (NYSE:ORA) Shares Bought by MetLife Investment Management LLC

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

Other large investors have also made changes to their positions in the company. Versant Capital Management Inc grew its position in Ormat Technologies by 132.4% during the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company's stock valued at $27,000 after acquiring an additional 229 shares during the period. AlphaQuest LLC increased its position in 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 in the last quarter. Headlands Technologies LLC purchased a new position in Ormat Technologies in the fourth quarter valued at approximately $66,000. Mendota Financial Group LLC purchased a new position in Ormat Technologies in the fourth quarter valued at approximately $98,000. Finally, Sterling Capital Management LLC lifted its position in Ormat Technologies by 897.8% during the fourth quarter. Sterling Capital Management LLC now owns 1,856 shares of the energy company's stock valued at $126,000 after buying an additional 1,670 shares in the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jessica Woelfel sold 409 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total transaction of $29,509.35. Following the sale, the insider now directly owns 6,094 shares of the company's stock, valued at approximately $439,682.10. This represents a 6.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction on 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 directly owns 1,910 shares of the company's stock, valued at approximately $131,790. This represents a 46.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,242 shares of company stock worth $156,427. 0.56% of the stock is currently owned by corporate insiders.

Ormat Technologies Stock Up 1.5 %

ORA stock opened at $72.71 on Friday. The company has a market capitalization of $4.41 billion, a P/E ratio of 37.09, a PEG ratio of 3.18 and a beta of 0.52. The firm has a 50 day simple moving average of $70.13 and a 200-day simple moving average of $72.07. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. Ormat Technologies, Inc. has a twelve month low of $61.58 and a twelve month high of $84.30.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Wednesday, March 12th. Ormat Technologies's payout ratio is currently 23.53%.

Analyst Ratings Changes

A number of brokerages have recently commented on ORA. StockNews.com raised shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research note on Monday, April 7th. Jefferies Financial Group upped their target price on Ormat Technologies from $78.00 to $86.00 and gave the stock a "buy" rating in a research report on Tuesday, March 25th. JPMorgan Chase & Co. raised their target price on Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a report on Friday, February 28th. 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. Finally, Baird R W raised shares of Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $83.56.

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.

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.