American International Group Inc. Decreases Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

American International Group Inc. lessened its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 3.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 98,719 shares of the energy company’s stock after selling 3,100 shares during the period. American International Group Inc. owned approximately 0.16% of Ormat Technologies worth $7,482,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new position in Ormat Technologies in the 4th quarter worth about $32,000. Manchester Capital Management LLC increased its position in Ormat Technologies by 593.0% during the 4th quarter. Manchester Capital Management LLC now owns 797 shares of the energy company’s stock valued at $60,000 after purchasing an additional 682 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in Ormat Technologies during the 3rd quarter valued at about $204,000. TFO Wealth Partners LLC increased its position in Ormat Technologies by 9,066.7% during the 4th quarter. TFO Wealth Partners LLC now owns 275 shares of the energy company’s stock valued at $227,000 after purchasing an additional 272 shares during the period. Finally, Prime Capital Investment Advisors LLC purchased a new position in Ormat Technologies during the 4th quarter valued at about $257,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Stock Performance

Shares of NYSE ORA opened at $73.10 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.02 and a debt-to-equity ratio of 0.73. The company has a 50 day simple moving average of $69.94 and a two-hundred day simple moving average of $68.78. Ormat Technologies, Inc. has a 12 month low of $58.73 and a 12 month high of $85.82. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 3.54 and a beta of 0.53.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Wednesday, May 8th. The energy company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.03). Ormat Technologies had a net margin of 15.43% and a return on equity of 5.45%. The firm had revenue of $224.17 million during the quarter, compared to analyst estimates of $224.38 million. As a group, analysts predict that Ormat Technologies, Inc. will post 2.07 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.66%. The ex-dividend date was Tuesday, May 21st. Ormat Technologies’s payout ratio is presently 21.62%.

Wall Street Analyst Weigh In

A number of research analysts have commented on ORA shares. TD Cowen raised their target price on shares of Ormat Technologies from $70.00 to $76.00 and gave the company a “hold” rating in a research report on Friday, May 10th. UBS Group lifted their price objective on shares of Ormat Technologies from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Finally, Barclays lowered their target price on shares of Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating for the company in a research note on Monday, May 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $83.83.

Insider Buying and Selling

In related news, Director David Granot sold 686 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $73.46, for a total value of $50,393.56. Following the completion of the sale, the director now owns 4,832 shares of the company’s stock, valued at approximately $354,958.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Stanley Stern sold 1,825 shares of the company’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 sale, the director now owns 4,835 shares of the company’s stock, valued at $323,703.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David Granot sold 686 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $73.46, for a total transaction of $50,393.56. Following the sale, the director now directly owns 4,832 shares of the company’s stock, valued at approximately $354,958.72. The disclosure for this sale can be found here. 0.46% of the stock is owned by insiders.

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.