Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 48.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 10,283 shares of the energy company’s stock after selling 9,840 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ormat Technologies were worth $696,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. State Street Corp lifted its stake in shares of Ormat Technologies by 0.5% during the 3rd quarter. State Street Corp now owns 845,124 shares of the energy company’s stock worth $62,784,000 after acquiring an additional 4,344 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Ormat Technologies by 19.3% during the 4th quarter. ProShare Advisors LLC now owns 5,381 shares of the energy company’s stock worth $401,000 after acquiring an additional 871 shares during the last quarter. Strs Ohio lifted its stake in shares of Ormat Technologies by 93.3% during the 4th quarter. Strs Ohio now owns 17,200 shares of the energy company’s stock worth $1,281,000 after acquiring an additional 8,300 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Ormat Technologies by 4.2% during the 1st quarter. Bessemer Group Inc. now owns 62,100 shares of the energy company’s stock worth $4,202,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Mackay Shields LLC bought a new stake in shares of Ormat Technologies during the 4th quarter worth approximately $2,250,000. 71.37% of the stock is owned by hedge funds and other institutional investors.

ORA has been the subject of a number of research analyst reports. TheStreet lowered Ormat Technologies from a “b-” rating to a “c+” rating in a research report on Thursday, April 2nd. Zacks Investment Research lowered 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. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $72.50.

Shares of NYSE ORA opened at $68.89 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.03 and a debt-to-equity ratio of 0.67. The business has a fifty day simple moving average of $62.84 and a two-hundred day simple moving average of $72.61. The firm has a market cap of $3.52 billion, a PE ratio of 47.59, a price-to-earnings-growth ratio of 3.56 and a beta of 0.63. Ormat Technologies, Inc. has a twelve month low of $55.22 and a twelve month high of $87.07.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Monday, May 11th. The energy company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.01. The business had revenue of $192.10 million during the quarter, compared to analyst estimates of $186.91 million. Ormat Technologies had a return on equity of 4.95% and a net margin of 11.93%. Ormat Technologies’s revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 EPS. On average, research analysts expect that Ormat Technologies, Inc. will post 1.76 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Thursday, May 21st will be issued a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.64%. Ormat Technologies’s dividend payout ratio is presently 30.14%.

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, 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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Institutional Ownership by Quarter for Ormat Technologies (NYSE:ORA)

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