Cubist Systematic Strategies LLC Sells 226 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Cubist Systematic Strategies LLC lowered its stake in shares of Ormat Technologies, Inc. (NYSE:ORA – Get Rating) by 2.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,351 shares of the energy company’s stock after selling 226 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Ormat Technologies were worth $892,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Ormat Technologies during the 3rd quarter worth $209,000. Great Lakes Advisors LLC acquired a new stake in shares of Ormat Technologies in the third quarter valued at about $468,000. The Manufacturers Life Insurance Company increased its stake in shares of Ormat Technologies by 187.5% in the third quarter. The Manufacturers Life Insurance Company now owns 53,076 shares of the energy company’s stock worth $4,575,000 after purchasing an additional 34,613 shares during the period. Prescott Group Capital Management L.L.C. acquired a new position in shares of Ormat Technologies during the 3rd quarter worth about $1,724,000. Finally, ProShare Advisors LLC boosted its stake in Ormat Technologies by 46.1% during the 3rd quarter. ProShare Advisors LLC now owns 7,447 shares of the energy company’s stock valued at $643,000 after purchasing an additional 2,351 shares during the period. Institutional investors and hedge funds own 81.74% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Roth Mkm cut their price target on Ormat Technologies from $104.00 to $93.00 and set a “neutral” rating for the company in a report on Monday, February 27th. StockNews.com raised shares of Ormat Technologies from a “sell” rating to a “hold” rating in a report on Tuesday. Oppenheimer dropped their price objective on shares of Ormat Technologies from $106.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, February 24th. UBS Group upgraded shares of Ormat Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $103.00 to $105.00 in a research note on Wednesday, March 1st. Finally, Bank of America started coverage on Ormat Technologies in a research note on Tuesday, November 22nd. They set a “neutral” rating on the stock. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $92.83.

Ormat Technologies Stock Down 0.3 %

Shares of ORA opened at $87.14 on Thursday. Ormat Technologies, Inc. has a 12 month low of $67.28 and a 12 month high of $101.81. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 74.48, a P/E/G ratio of 4.87 and a beta of 0.48. The company has a 50-day moving average price of $89.19 and a two-hundred day moving average price of $90.40. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 0.80.

Ormat Technologies (NYSE:ORA – Get Rating) last released its quarterly earnings data on Wednesday, February 22nd. The energy company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.25. Ormat Technologies had a return on equity of 4.60% and a net margin of 8.97%. The firm had revenue of $205.50 million during the quarter, compared to analyst estimates of $199.33 million. During the same period in the prior year, the company posted $0.41 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts predict that Ormat Technologies, Inc. will post 1.8 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 22nd. Shareholders of record on Wednesday, March 8th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, March 7th. This represents a $0.48 annualized dividend and a yield of 0.55%. Ormat Technologies’s dividend payout ratio is 41.03%.

Ormat Technologies Company Profile

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Ormat Technologies, Inc operates as a holding company. The firm engages in the geothermal and recovered energy power businesses. It operates through the following segments: Electricity, Product and Energy Storage. The Electricity segment focuses on the sale of electricity from the company’s power plants pursuant to power purchase agreements.