Ormat Technologies, Inc. (NYSE:ORA) Shares Sold by Hemenway Trust Co LLC

Hemenway Trust Co LLC cut its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,465 shares of the energy company’s stock after selling 545 shares during the period. Hemenway Trust Co LLC’s holdings in Ormat Technologies were worth $407,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Somerville Kurt F grew its stake in shares of Ormat Technologies by 20.1% in the 4th quarter. Somerville Kurt F now owns 16,155 shares of the energy company’s stock valued at $1,203,000 after buying an additional 2,700 shares during the period. Brasada Capital Management LP raised its position in shares of Ormat Technologies by 1.5% during the 4th quarter. Brasada Capital Management LP now owns 42,558 shares of the energy company’s stock valued at $3,171,000 after buying an additional 620 shares during the period. Boston Trust Walden Corp purchased a new stake in shares of Ormat Technologies during the 4th quarter valued at approximately $208,000. Metropolitan Life Insurance Co NY lifted its holdings in Ormat Technologies by 5.5% in the third quarter. Metropolitan Life Insurance Co NY now owns 12,851 shares of the energy company’s stock valued at $955,000 after acquiring an additional 673 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Ormat Technologies by 23.1% in the third quarter. Millennium Management LLC now owns 4,034 shares of the energy company’s stock valued at $299,000 after acquiring an additional 756 shares during the last quarter. Institutional investors own 73.96% of the company’s stock.

Shares of NYSE:ORA traded up $1.26 during mid-day trading on Wednesday, reaching $77.60. 151,011 shares of the company were exchanged, compared to its average volume of 151,296. Ormat Technologies, Inc. has a 1 year low of $53.60 and a 1 year high of $79.18. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.23 and a quick ratio of 1.11. The firm’s 50-day simple moving average is $75.85 and its 200 day simple moving average is $72.41. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 37.31, a P/E/G ratio of 3.14 and a beta of 1.01.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Wednesday, November 6th. The energy company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). Ormat Technologies had a net margin of 12.59% and a return on equity of 6.00%. The firm had revenue of $170.50 million during the quarter, compared to analysts’ expectations of $171.11 million. During the same period in the previous year, the firm earned $0.31 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, research analysts forecast that Ormat Technologies, Inc. will post 1.77 earnings per share for the current fiscal year.

In related news, VP Zvi Krieger sold 668 shares of Ormat Technologies stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $76.88, for a total value of $51,355.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lowe Brian 270,900 shares of the stock in a transaction on Friday, November 22nd. Insiders sold 11,957 shares of company stock valued at $927,059 over the last ninety days. Insiders own 0.63% of the company’s stock.

Several equities research analysts have issued reports on the company. TheStreet raised Ormat Technologies from a “c+” rating to a “b-” rating in a research note on Wednesday, December 18th. Cowen lowered Ormat Technologies from an “outperform” rating to a “market perform” rating and set a $76.00 price target on the stock. in a research note on Thursday, October 24th. Roth Capital cut Ormat Technologies from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a report on Monday, November 11th. They noted that the move was a valuation call. ValuEngine cut Ormat Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research raised Ormat Technologies from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Monday, October 21st. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Ormat Technologies has a consensus rating of “Hold” and an average price target of $73.40.

Ormat Technologies Profile

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, New Zealand, and internationally. The company operates through three segments: Electricity, Product, and Other. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity.

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Institutional Ownership by Quarter for Ormat Technologies (NYSE:ORA)

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