Charles Schwab Investment Management Inc. Sells 13,214 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Charles Schwab Investment Management Inc. reduced its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 579,248 shares of the energy company’s stock after selling 13,214 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.96% of Ormat Technologies worth $44,567,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ORA. Global Alpha Capital Management Ltd. increased its stake in shares of Ormat Technologies by 6.1% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 2,446,624 shares of the energy company’s stock valued at $188,125,000 after acquiring an additional 140,882 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Ormat Technologies by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company’s stock valued at $104,030,000 after purchasing an additional 86,291 shares in the last quarter. Van Berkom & Associates Inc. raised its holdings in shares of Ormat Technologies by 2.0% during the second quarter. Van Berkom & Associates Inc. now owns 1,322,936 shares of the energy company’s stock valued at $94,855,000 after purchasing an additional 25,799 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Ormat Technologies by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 560,029 shares of the energy company’s stock worth $40,154,000 after purchasing an additional 15,004 shares in the last quarter. Finally, Y.D. More Investments Ltd grew its stake in shares of Ormat Technologies by 1,011.5% in the 2nd quarter. Y.D. More Investments Ltd now owns 493,619 shares of the energy company’s stock valued at $34,943,000 after buying an additional 449,209 shares during the period. 95.49% of the stock is owned by institutional investors and hedge funds.

Ormat Technologies Stock Performance

Shares of Ormat Technologies stock opened at $81.62 on Monday. Ormat Technologies, Inc. has a 52 week low of $59.41 and a 52 week high of $84.30. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The business has a 50 day moving average price of $78.89 and a 200-day moving average price of $75.55. The company has a market cap of $4.94 billion, a PE ratio of 41.64, a price-to-earnings-growth ratio of 4.22 and a beta of 0.53.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.05. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The business had revenue of $211.80 million for the quarter, compared to analysts’ expectations of $215.53 million. During the same period last year, the business earned $0.47 EPS. The business’s revenue was up 1.8% on a year-over-year basis. Equities analysts anticipate that Ormat Technologies, Inc. will post 1.93 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Wednesday, November 20th. Ormat Technologies’s payout ratio is 24.49%.

Analysts Set New Price Targets

A number of research firms recently weighed in on ORA. Oppenheimer upped their price target on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Roth Mkm reiterated a “buy” rating and issued a $92.00 target price (up from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $84.50.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.98, for a total value of $94,924.68. Following the transaction, the director now owns 6,906 shares of the company’s stock, valued at approximately $517,811.88. The trade was a 15.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

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, 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.