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

LGT Capital Partners LTD. grew its stake in Ormat Technologies, Inc. (NYSE:ORA) by 26.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 524,710 shares of the energy company’s stock after acquiring an additional 110,330 shares during the period. Ormat Technologies accounts for about 1.2% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 28th biggest position. LGT Capital Partners LTD. owned approximately 0.87% of Ormat Technologies worth $39,768,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. IFP Advisors Inc increased its position in Ormat Technologies by 248.0% in the second quarter. IFP Advisors Inc now owns 428 shares of the energy company’s stock worth $34,000 after purchasing an additional 305 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Ormat Technologies by 43.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,008 shares of the energy company’s stock valued at $87,000 after buying an additional 303 shares during the period. Toroso Investments LLC boosted its stake in Ormat Technologies by 15.8% in the third quarter. Toroso Investments LLC now owns 1,065 shares of the energy company’s stock valued at $91,000 after acquiring an additional 145 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Ormat Technologies during the 2nd quarter worth $110,000. Finally, FMR LLC lifted its stake in shares of Ormat Technologies by 13.0% in the 2nd quarter. FMR LLC now owns 1,465 shares of the energy company’s stock valued at $115,000 after purchasing an additional 169 shares during the period. 95.49% of the stock is owned by institutional investors.

Ormat Technologies Price Performance

NYSE ORA opened at $66.15 on Friday. The company has a market capitalization of $3.99 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. Ormat Technologies, Inc. has a 12-month low of $58.73 and a 12-month high of $88.64. The firm’s 50 day moving average is $65.62 and its 200-day moving average is $68.07. 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 (NYSE:ORA) last released its earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 5.09% and a net margin of 15.00%. Ormat Technologies’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.73 earnings per share. Equities research analysts anticipate that Ormat Technologies, Inc. will post 2.3 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

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

Wall Street Analyst Weigh In

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

About Ormat Technologies

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.