Teachers Retirement System of The State of Kentucky cut its position in shares of Ormat Technologies, Inc. (NYSE:ORA – Get Rating) by 8.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,156 shares of the energy company’s stock after selling 700 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Ormat Technologies were worth $619,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in ORA. Creative Planning lifted its position in shares of Ormat Technologies by 2.1% in the 2nd quarter. Creative Planning now owns 5,429 shares of the energy company’s stock valued at $425,000 after acquiring an additional 111 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Ormat Technologies by 30.0% in the third quarter. IFP Advisors Inc now owns 533 shares of the energy company’s stock valued at $27,000 after purchasing an additional 123 shares in the last quarter. Mackenzie Financial Corp raised its position in Ormat Technologies by 4.4% during the fourth quarter. Mackenzie Financial Corp now owns 3,097 shares of the energy company’s stock valued at $268,000 after buying an additional 131 shares during the period. Toroso Investments LLC lifted its stake in Ormat Technologies by 15.8% in the 3rd quarter. Toroso Investments LLC now owns 1,065 shares of the energy company’s stock worth $91,000 after acquiring an additional 145 shares in the last quarter. Finally, Reynders McVeigh Capital Management LLC boosted its position in Ormat Technologies by 0.6% during the 4th quarter. Reynders McVeigh Capital Management LLC now owns 24,917 shares of the energy company’s stock worth $2,155,000 after acquiring an additional 150 shares during the period. 88.23% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equity analysts have recently weighed in on the company. Bank of America upped their target price on Ormat Technologies from $85.00 to $87.00 in a report on Wednesday, June 14th. Barclays assumed coverage on shares of Ormat Technologies in a research report on Monday, May 22nd. They issued an “equal weight” rating and a $89.00 target price for the company. Citigroup lowered their price target on shares of Ormat Technologies from $91.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday, March 27th. StockNews.com assumed coverage on Ormat Technologies in a report on Thursday, May 18th. They set a “sell” rating for the company. Finally, Roth Mkm lowered their target price on Ormat Technologies from $104.00 to $93.00 and set a “neutral” rating on the stock in a research note on Monday, February 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $91.25.
Ormat Technologies Stock Down 1.1 %
ORA opened at $84.46 on Wednesday. Ormat Technologies, Inc. has a twelve month low of $67.28 and a twelve month high of $101.81. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.96 and a current ratio of 2.07. The business has a 50 day moving average price of $85.20 and a 200 day moving average price of $86.79. The firm has a market cap of $5.04 billion, a P/E ratio of 62.56, a price-to-earnings-growth ratio of 1.87 and a beta of 0.47.
Ormat Technologies (NYSE:ORA – Get Rating) last posted its quarterly earnings data on Tuesday, May 9th. The energy company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.02. The business had revenue of $185.20 million during the quarter, compared to the consensus estimate of $212.86 million. Ormat Technologies had a net margin of 10.39% and a return on equity of 4.86%. Ormat Technologies’ quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 EPS. Research analysts forecast that Ormat Technologies, Inc. will post 1.97 EPS for the current year.
Ormat Technologies Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, May 22nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.57%. Ormat Technologies’ payout ratio is presently 35.56%.
Ormat Technologies Profile
Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guadeloupe, Guatemala, Ethiopia, New Zealand, Honduras, and internationally. It operates through 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.
Want to see what other hedge funds are holding ORA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ormat Technologies, Inc. (NYSE:ORA – Get Rating).
Receive News & Ratings for Ormat Technologies Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Ormat Technologies and related companies with MarketBeat.com’s FREE daily email newsletter.