LGT Capital Partners LTD. Acquires 110,330 Shares of Ormat Technologies, Inc. (NYSE:ORA)

LGT Capital Partners LTD. increased its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 26.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 524,710 shares of the energy company’s stock after purchasing an additional 110,330 shares during the quarter. Ormat Technologies accounts for approximately 1.2% of LGT Capital Partners LTD.’s portfolio, making the stock its 28th largest position. LGT Capital Partners LTD.’s holdings in Ormat Technologies were worth $39,768,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. US Bancorp DE raised its position in Ormat Technologies by 10.5% during the 1st quarter. US Bancorp DE now owns 3,963 shares of the energy company’s stock valued at $324,000 after purchasing an additional 375 shares during the last quarter. AlphaCrest Capital Management LLC bought a new stake in Ormat Technologies in the first quarter valued at $360,000. Bank of Montreal Can increased its position in Ormat Technologies by 2.5% during the 1st quarter. Bank of Montreal Can now owns 14,424 shares of the energy company’s stock valued at $1,150,000 after purchasing an additional 355 shares during the period. MetLife Investment Management LLC increased its position in shares of Ormat Technologies by 57.7% during the first quarter. MetLife Investment Management LLC now owns 24,095 shares of the energy company’s stock valued at $1,972,000 after buying an additional 8,812 shares during the period. Finally, BlackRock Inc. boosted its position in Ormat Technologies by 0.5% during the 1st quarter. BlackRock Inc. now owns 4,650,385 shares of the energy company’s stock valued at $380,541,000 after acquiring an additional 20,844 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ORA. Barclays dropped their target price on shares of Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating on the stock in a report on Monday, February 5th. TD Cowen reduced their price target on shares of Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating for the company in a research report on Friday, February 23rd. Finally, Oppenheimer dropped their price objective on Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating on the stock in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Ormat Technologies has an average rating of “Hold” and an average target price of $81.00.

Ormat Technologies Stock Down 0.2 %

NYSE ORA opened at $66.15 on Friday. The stock’s 50-day moving average price is $65.62 and its 200-day moving average price is $68.07. The company has a market capitalization of $3.99 billion, a P/E ratio of 31.65, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. The company has a quick ratio of 1.12, a current ratio of 1.20 and a debt-to-equity ratio of 0.64. Ormat Technologies, Inc. has a 52 week low of $58.73 and a 52 week high of $88.64.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.07. The business had revenue of $241.30 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $0.73 earnings per share. On average, equities research analysts predict that Ormat Technologies, Inc. will post 2.3 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.48 dividend on an annualized basis and a yield of 0.73%. Ormat Technologies’s dividend payout ratio is presently 22.97%.

Ormat Technologies Company Profile

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.