Dimensional Fund Advisors LP Boosts Stock Holdings in Ormat Technologies, Inc. $ORA

Dimensional Fund Advisors LP grew its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 1.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,866,543 shares of the energy company’s stock after buying an additional 22,748 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Ormat Technologies were worth $179,651,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its holdings in Ormat Technologies by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock worth $35,000 after buying an additional 113 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Ormat Technologies by 251.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company’s stock valued at $44,000 after acquiring an additional 374 shares during the period. AlphaQuest LLC lifted its position in shares of Ormat Technologies by 218.0% during the third quarter. AlphaQuest LLC now owns 547 shares of the energy company’s stock worth $53,000 after acquiring an additional 375 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of Ormat Technologies by 313.2% during the third quarter. Hantz Financial Services Inc. now owns 595 shares of the energy company’s stock worth $57,000 after acquiring an additional 451 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Ormat Technologies by 17.1% in the third quarter. CWM LLC now owns 1,098 shares of the energy company’s stock worth $106,000 after acquiring an additional 160 shares during the period. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ORA. Roth Mkm set a $139.00 price target on Ormat Technologies in a research report on Wednesday, January 28th. Barclays increased their price objective on Ormat Technologies from $108.00 to $123.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. TD Cowen cut their target price on Ormat Technologies from $131.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Citigroup lifted their target price on Ormat Technologies from $110.00 to $128.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Finally, Oppenheimer upped their price target on Ormat Technologies from $125.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday, January 27th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Ormat Technologies currently has an average rating of “Moderate Buy” and an average target price of $129.09.

Ormat Technologies Trading Up 1.0%

Ormat Technologies stock opened at $108.89 on Monday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.75 and a current ratio of 0.81. Ormat Technologies, Inc. has a fifty-two week low of $64.39 and a fifty-two week high of $132.58. The stock has a market cap of $6.63 billion, a P/E ratio of 54.17, a PEG ratio of 4.60 and a beta of 0.84. The firm’s fifty day moving average price is $117.89 and its 200-day moving average price is $108.94.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Wednesday, February 25th. The energy company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. Ormat Technologies had a return on equity of 5.21% and a net margin of 12.52%.The company had revenue of $276.04 million during the quarter, compared to analyst estimates of $257.75 million. During the same quarter last year, the company earned $0.67 earnings per share. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. Equities research analysts forecast that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.88%.

Insider Activity

In other news, insider Jessica Woelfel sold 2,359 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $105.16, for a total transaction of $248,072.44. Following the completion of the transaction, the insider owned 3,433 shares of the company’s stock, valued at approximately $361,014.28. The trade was a 40.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.56% of the company’s stock.

Ormat Technologies Company Profile

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.