Citigroup Inc. Has $4.07 Million Stock Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Citigroup Inc. cut its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA – Get Rating) by 31.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,064 shares of the energy company’s stock after selling 21,587 shares during the period. Citigroup Inc. owned 0.08% of Ormat Technologies worth $4,070,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Capital Fund Management S.A. bought a new stake in shares of Ormat Technologies in the 3rd quarter valued at about $895,000. Harvest Fund Management Co. Ltd bought a new stake in Ormat Technologies during the 4th quarter worth approximately $31,000. Great Lakes Advisors LLC bought a new stake in Ormat Technologies during the 3rd quarter worth approximately $468,000. The Manufacturers Life Insurance Company increased its stake in Ormat Technologies by 187.5% during the 3rd 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 in the last quarter. Finally, Beck Bode LLC bought a new position in shares of Ormat Technologies during the 4th quarter worth approximately $8,559,000. 81.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ORA has been the subject of several research reports. Citigroup cut their price target on Ormat Technologies from $91.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, March 27th. StockNews.com began coverage on Ormat Technologies in a research note on Thursday. They set a “sell” rating on the stock. Oppenheimer cut their price target on Ormat Technologies from $106.00 to $96.00 and set an “outperform” rating on the stock in a research note on Friday, February 24th. UBS Group raised Ormat Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $103.00 to $105.00 in a research note on Wednesday, March 1st. Finally, Roth Mkm decreased their price objective on Ormat Technologies from $104.00 to $93.00 and set a “neutral” rating for the company in a report on Monday, February 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $92.33.

Ormat Technologies Price Performance

Shares of NYSE:ORA opened at $83.48 on Monday. Ormat Technologies, Inc. has a 1-year low of $67.28 and a 1-year high of $101.81. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.07 and a quick ratio of 1.96. The business has a fifty day moving average price of $84.49 and a 200-day moving average price of $88.17. The company has a market capitalization of $4.98 billion, a PE ratio of 61.84, a PEG ratio of 3.97 and a beta of 0.46.

Ormat Technologies (NYSE:ORA – Get Rating) last released its quarterly earnings data on Tuesday, May 9th. The energy company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.49 by $0.02. Ormat Technologies had a return on equity of 4.86% and a net margin of 10.39%. The company had revenue of $185.20 million during the quarter, compared to the consensus estimate of $212.86 million. During the same period last year, the company earned $0.35 EPS. Ormat Technologies’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities analysts expect that Ormat Technologies, Inc. will post 2.1 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Tuesday, May 23rd will be issued a $0.12 dividend. The ex-dividend date is Monday, May 22nd. This represents a $0.48 annualized dividend and a yield of 0.57%. Ormat Technologies’s payout ratio is 35.56%.

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.