Landsberg Bennett & Dubbaneh LLC bought a new position in shares of Ormat Technologies, Inc. (NYSE:ORA) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 3,138 shares of the energy company’s stock, valued at approximately $248,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Perigon Wealth Management LLC acquired a new position in Ormat Technologies during the 4th quarter worth about $33,000. AdvisorNet Financial Inc acquired a new position in Ormat Technologies during the 1st quarter worth about $31,000. CI Investments Inc. lifted its stake in Ormat Technologies by 139.2% during the 4th quarter. CI Investments Inc. now owns 519 shares of the energy company’s stock worth $47,000 after acquiring an additional 302 shares in the last quarter. Ayalon Holdings Ltd. lifted its stake in Ormat Technologies by 128.1% during the 4th quarter. Ayalon Holdings Ltd. now owns 1,170 shares of the energy company’s stock worth $106,000 after acquiring an additional 657 shares in the last quarter. Finally, Centaurus Financial Inc. acquired a new position in Ormat Technologies during the 4th quarter worth about $131,000. 77.41% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on the company. Bank of America assumed coverage on Ormat Technologies in a report on Tuesday, December 29th. They set a “buy” rating and a $96.00 price target on the stock. Roth Capital upped their price target on Ormat Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 2nd. Finally, JPMorgan Chase & Co. cut their price target on Ormat Technologies from $96.00 to $81.00 and set a “neutral” rating on the stock in a report on Monday, March 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $85.75.
Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Wednesday, February 24th. The energy company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. Ormat Technologies had a return on equity of 5.01% and a net margin of 10.77%. The business had revenue of $179.38 million for the quarter, compared to the consensus estimate of $182.69 million. As a group, analysts predict that Ormat Technologies, Inc. will post 1.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, March 29th. Investors of record on Thursday, March 11th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Wednesday, March 10th. This is an increase from Ormat Technologies’s previous quarterly dividend of $0.11. Ormat Technologies’s dividend payout ratio (DPR) is currently 32.88%.
Ormat Technologies Company 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. The company operates through three segments: Electricity, Product, and Energy Storage.
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