American Century Companies Inc. boosted its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 143.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,326 shares of the energy company’s stock after buying an additional 4,312 shares during the quarter. American Century Companies Inc.’s holdings in Ormat Technologies were worth $509,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of ORA. Concord Wealth Partners boosted its holdings in Ormat Technologies by 3,811.1% during the first quarter. Concord Wealth Partners now owns 352 shares of the energy company’s stock valued at $28,000 after acquiring an additional 343 shares during the period. Clean Yield Group bought a new stake in Ormat Technologies during the second quarter valued at about $33,000. Rockefeller Capital Management L.P. boosted its holdings in Ormat Technologies by 428.2% during the first quarter. Rockefeller Capital Management L.P. now owns 956 shares of the energy company’s stock valued at $75,000 after acquiring an additional 775 shares during the period. Captrust Financial Advisors boosted its holdings in Ormat Technologies by 1,004.3% during the first quarter. Captrust Financial Advisors now owns 1,270 shares of the energy company’s stock valued at $100,000 after acquiring an additional 1,155 shares during the period. Finally, Ayalon Holdings Ltd. boosted its holdings in Ormat Technologies by 158.0% during the second quarter. Ayalon Holdings Ltd. now owns 1,486 shares of the energy company’s stock valued at $104,000 after acquiring an additional 910 shares during the period. 84.93% of the stock is currently owned by hedge funds and other institutional investors.
ORA has been the subject of a number of recent analyst reports. TheStreet cut shares of Ormat Technologies from a “b-” rating to a “c” rating in a report on Monday, May 24th. Roth Capital reduced their target price on shares of Ormat Technologies from $97.00 to $76.00 and set a “neutral” rating for the company in a research note on Thursday, July 15th. Finally, JPMorgan Chase & Co. increased their target price on shares of Ormat Technologies from $83.00 to $89.00 and gave the company an “overweight” rating in a research note on Wednesday, July 21st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ormat Technologies has a consensus rating of “Buy” and a consensus target price of $83.17.
Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Wednesday, August 4th. The energy company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The firm had revenue of $146.90 million during the quarter, compared to analysts’ expectations of $147.75 million. Ormat Technologies had a net margin of 9.92% and a return on equity of 3.96%. The company’s revenue for the quarter was down 16.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 earnings per share. Equities research analysts expect that Ormat Technologies, Inc. will post 1.48 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Wednesday, August 18th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Tuesday, August 17th. Ormat Technologies’s payout ratio is 29.09%.
Ormat Technologies Profile
Ormat Technologies, Inc operates as a holding company. The firm engages in the provision of geothermal and recovered energy power business. It operates through the following segments: Electricity, Product and Energy Storage. The Electricity segment focuses in the sale of electricity from the company’s power plants pursuant to PPAs.
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