First Trust Advisors LP lessened its position in Ormat Technologies, Inc. (NYSE:ORA) by 18.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 111,838 shares of the energy company’s stock after selling 25,452 shares during the period. First Trust Advisors LP’s holdings in Ormat Technologies were worth $7,567,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its holdings in Ormat Technologies by 1.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 17,200 shares of the energy company’s stock worth $1,164,000 after acquiring an additional 200 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in Ormat Technologies by 7.3% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,085 shares of the energy company’s stock worth $282,000 after acquiring an additional 277 shares during the last quarter. Prudential Financial Inc. grew its holdings in Ormat Technologies by 6.7% in the 4th quarter. Prudential Financial Inc. now owns 4,398 shares of the energy company’s stock worth $328,000 after acquiring an additional 278 shares during the last quarter. Clean Yield Group grew its holdings in Ormat Technologies by 42.1% in the 1st quarter. Clean Yield Group now owns 1,101 shares of the energy company’s stock worth $74,000 after acquiring an additional 326 shares during the last quarter. Finally, Boston Trust Walden Corp grew its holdings in Ormat Technologies by 21.5% in the 1st quarter. Boston Trust Walden Corp now owns 3,397 shares of the energy company’s stock worth $230,000 after acquiring an additional 600 shares during the last quarter. 71.37% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of Ormat Technologies from a “hold” rating to a “sell” rating and set a $63.00 target price for the company. in a research report on Monday, April 27th. TheStreet cut shares of Ormat Technologies from a “b-” rating to a “c+” rating in a research report on Thursday, April 2nd. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company has an average rating of “Hold” and an average price target of $72.50.
Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Monday, May 11th. The energy company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. Ormat Technologies had a net margin of 11.93% and a return on equity of 4.95%. The company had revenue of $192.10 million during the quarter, compared to analysts’ expectations of $186.91 million. During the same period last year, the company posted $0.51 EPS. Ormat Technologies’s revenue was down 3.5% on a year-over-year basis. Equities analysts forecast that Ormat Technologies, Inc. will post 1.76 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Thursday, May 21st will be given a dividend of $0.11 per share. The ex-dividend date is Wednesday, May 20th. This represents a $0.44 dividend on an annualized basis and a yield of 0.64%. Ormat Technologies’s dividend payout ratio (DPR) is currently 30.14%.
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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