LGT Capital Partners LTD. boosted its position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 26.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 524,710 shares of the energy company's stock after buying an additional 110,330 shares during the quarter. Ormat Technologies makes up about 1.2% of LGT Capital Partners LTD.'s holdings, making the stock its 28th largest position. LGT Capital Partners LTD. owned about 0.87% of Ormat Technologies worth $39,768,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of ORA. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in shares of Ormat Technologies in the fourth quarter valued at $1,516,000. Harrington Investments INC grew its position in Ormat Technologies by 3.2% during the fourth quarter. Harrington Investments INC now owns 6,510 shares of the energy company's stock worth $493,000 after buying an additional 200 shares in the last quarter. Pacer Advisors Inc. grew its position in Ormat Technologies by 79.8% during the fourth quarter. Pacer Advisors Inc. now owns 8,072 shares of the energy company's stock worth $612,000 after buying an additional 3,583 shares in the last quarter. Raymond James & Associates grew its position in Ormat Technologies by 6.8% during the fourth quarter. Raymond James & Associates now owns 11,666 shares of the energy company's stock worth $884,000 after buying an additional 743 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Ormat Technologies by 0.8% during the third quarter. Vanguard Group Inc. now owns 5,285,456 shares of the energy company's stock worth $369,559,000 after buying an additional 42,266 shares in the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms recently commented on ORA. Oppenheimer reduced their target price on Ormat Technologies from $84.00 to $83.00 and set an "outperform" rating for the company in a research report on Friday, January 19th. TD Cowen dropped their price target on Ormat Technologies from $74.00 to $70.00 and set a "market perform" rating for the company in a research note on Friday, February 23rd. Finally, Barclays lowered their target price on Ormat Technologies from $82.00 to $75.00 and set an "equal weight" rating for the company in a research note on Monday, February 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $81.00.
Check Out Our Latest Analysis on ORA
Ormat Technologies Stock Down 0.2 %
Shares of ORA stock traded down $0.10 during trading hours on Friday, reaching $66.19. 456,218 shares of the company's stock were exchanged, compared to its average volume of 447,580. The stock's 50 day moving average is $65.61 and its 200-day moving average is $68.01. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 31.67, a P/E/G ratio of 1.40 and a beta of 0.48. The company has a current ratio of 1.20, a quick ratio of 1.12 and a debt-to-equity ratio of 0.64. Ormat Technologies, Inc. has a fifty-two week low of $58.73 and a fifty-two week high of $88.64.
Ormat Technologies (NYSE:ORA - Get Free Report) last posted its earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.07. The business had revenue of $241.30 million for the quarter, compared to analyst estimates of $239.71 million. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. The company's revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.73 EPS. Analysts predict that Ormat Technologies, Inc. will post 2.3 earnings per share for the current fiscal year.
Ormat Technologies Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.48 dividend on an annualized basis and a yield of 0.73%. Ormat Technologies's payout ratio is 22.97%.
About Ormat Technologies
(
Free Report)
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.
Further Reading
Before you consider Ormat Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ormat Technologies wasn't on the list.
While Ormat Technologies currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With average gains of 150% since the start of 2023, now is the time to give these stocks a look and pump up your 2024 portfolio.
Get This Free Report
