Ormat Technologies, Inc. (NYSE:ORA) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in Ormat Technologies, Inc. (NYSE:ORA) by 2.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,577 shares of the energy company’s stock after selling 758 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Ormat Technologies were worth $2,093,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Ormat Technologies during the 4th quarter worth about $34,000. UMB Bank n.a. increased its position in shares of Ormat Technologies by 42.6% during the 1st quarter. UMB Bank n.a. now owns 880 shares of the energy company’s stock worth $62,000 after purchasing an additional 263 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Ormat Technologies during the 4th quarter worth about $66,000. Sterling Capital Management LLC increased its position in shares of Ormat Technologies by 897.8% during the 4th quarter. Sterling Capital Management LLC now owns 1,856 shares of the energy company’s stock worth $126,000 after purchasing an additional 1,670 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Ormat Technologies during the 4th quarter worth about $204,000. 95.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ORA has been the subject of several research reports. Jefferies Financial Group lifted their target price on Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, March 25th. Wall Street Zen raised Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Monday, April 7th. Finally, Barclays lifted their target price on Ormat Technologies from $86.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Ormat Technologies presently has an average rating of “Hold” and a consensus price target of $84.71.

Ormat Technologies Trading Up 1.6%

NYSE:ORA opened at $89.72 on Friday. The firm has a market cap of $5.44 billion, a P/E ratio of 43.55, a PEG ratio of 4.33 and a beta of 0.64. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 0.77. The stock’s 50 day simple moving average is $80.36 and its 200-day simple moving average is $72.82. Ormat Technologies, Inc. has a 12-month low of $61.58 and a 12-month high of $90.07.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.10. Ormat Technologies had a return on equity of 5.35% and a net margin of 14.18%. The firm had revenue of $229.76 million for the quarter, compared to analyst estimates of $228.33 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. Ormat Technologies’s quarterly revenue was up 2.5% on a year-over-year basis. Equities analysts anticipate that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Wednesday, May 21st. Ormat Technologies’s payout ratio is currently 23.30%.

Insider Buying and Selling at Ormat Technologies

In related news, Director Stanley Stern sold 547 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $85.54, for a total transaction of $46,790.38. Following the transaction, the director directly owned 6,137 shares in the company, valued at approximately $524,958.98. This represents a 8.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michal Marom sold 895 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $73.47, for a total value of $65,755.65. Following the transaction, the director owned 3,080 shares in the company, valued at $226,287.60. This trade represents a 22.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,329 shares of company stock valued at $423,443. 0.56% of the stock is owned by company insiders.

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.