Charles Schwab Investment Management Inc. Has $41.91 Million Stock Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Charles Schwab Investment Management Inc. increased its stake in Ormat Technologies, Inc. (NYSE:ORA) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 618,937 shares of the energy company’s stock after acquiring an additional 39,689 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.02% of Ormat Technologies worth $41,914,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pacer Advisors Inc. grew its holdings in Ormat Technologies by 2.0% during the 4th quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company’s stock worth $544,000 after acquiring an additional 160 shares during the period. Bailard Inc. grew its stake in Ormat Technologies by 0.9% during the fourth quarter. Bailard Inc. now owns 19,446 shares of the energy company’s stock worth $1,317,000 after purchasing an additional 169 shares during the period. Versant Capital Management Inc increased its holdings in Ormat Technologies by 132.4% in the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock worth $27,000 after purchasing an additional 229 shares in the last quarter. Caprock Group LLC increased its holdings in Ormat Technologies by 4.0% in the fourth quarter. Caprock Group LLC now owns 6,080 shares of the energy company’s stock worth $412,000 after purchasing an additional 235 shares in the last quarter. Finally, Pathstone Holdings LLC lifted its stake in Ormat Technologies by 2.4% in the third quarter. Pathstone Holdings LLC now owns 17,729 shares of the energy company’s stock valued at $1,364,000 after buying an additional 422 shares during the period. 95.49% of the stock is owned by institutional investors and hedge funds.

Ormat Technologies Price Performance

ORA stock opened at $71.92 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. The business has a 50-day simple moving average of $66.85 and a two-hundred day simple moving average of $72.99. The company has a market capitalization of $4.35 billion, a P/E ratio of 36.69, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51. Ormat Technologies, Inc. has a 52-week low of $59.41 and a 52-week high of $84.30.

Ormat Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Wednesday, March 12th. Ormat Technologies’s payout ratio is currently 23.53%.

Insider Activity at Ormat Technologies

In other news, Director David Granot sold 1,666 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total transaction of $114,954.00. Following the transaction, the director now owns 1,910 shares of the company’s stock, valued at $131,790. This represents a 46.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Piper Sandler assumed coverage on shares of Ormat Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price objective for the company. Jefferies Financial Group upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $73.00 to $78.00 in a report on Thursday, February 20th. Baird R W raised shares of Ormat Technologies to a “hold” rating in a research report on Thursday. Robert W. Baird started coverage on Ormat Technologies in a research report on Thursday. They issued a “neutral” rating and a $81.00 target price for the company. Finally, JPMorgan Chase & Co. increased their price target on Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $82.67.

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.