Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 48.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,283 shares of the energy company’s stock after selling 9,840 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ormat Technologies were worth $696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Ormat Technologies by 1.2% during the first quarter. Nisa Investment Advisors LLC now owns 17,200 shares of the energy company’s stock valued at $1,164,000 after purchasing an additional 200 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Ormat Technologies by 7.3% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,085 shares of the energy company’s stock valued at $282,000 after purchasing an additional 277 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Ormat Technologies by 6.7% during the fourth quarter. Prudential Financial Inc. now owns 4,398 shares of the energy company’s stock valued at $328,000 after purchasing an additional 278 shares in the last quarter. Clean Yield Group lifted its holdings in shares of Ormat Technologies by 42.1% during the first quarter. Clean Yield Group now owns 1,101 shares of the energy company’s stock valued at $74,000 after purchasing an additional 326 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its holdings in shares of Ormat Technologies by 21.5% during the first quarter. Boston Trust Walden Corp now owns 3,397 shares of the energy company’s stock valued at $230,000 after purchasing an additional 600 shares in the last quarter. 71.37% of the stock is currently owned by hedge funds and other institutional investors.
ORA stock opened at $68.89 on Friday. Ormat Technologies, Inc. has a fifty-two week low of $55.22 and a fifty-two week high of $87.07. The business’s 50-day moving average is $62.84 and its two-hundred day moving average is $72.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.97 and a current ratio of 1.03. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 47.59, a P/E/G ratio of 3.56 and a beta of 0.63.
Ormat Technologies (NYSE:ORA) last posted its earnings results on Monday, May 11th. The energy company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. Ormat Technologies had a return on equity of 4.95% and a net margin of 11.93%. The company had revenue of $192.10 million for the quarter, compared to the consensus estimate of $186.91 million. During the same quarter in the prior year, the company earned $0.51 earnings per share. Ormat Technologies’s revenue was down 3.5% on a year-over-year basis. Equities analysts predict that Ormat Technologies, Inc. will post 1.76 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Thursday, May 21st will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Wednesday, May 20th. Ormat Technologies’s dividend payout ratio (DPR) is currently 30.14%.
A number of research analysts have recently issued reports on the company. TheStreet downgraded Ormat Technologies from a “b-” rating to a “c+” rating in a report on Thursday, April 2nd. Zacks Investment Research downgraded Ormat Technologies from a “hold” rating to a “sell” rating and set a $63.00 target price on the stock. in a report on Monday, April 27th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $72.50.
About Ormat Technologies
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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