Dimensional Fund Advisors LP Has $104.03 Million Position in Ormat Technologies, Inc. (NYSE:ORA)

Dimensional Fund Advisors LP boosted its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 6.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,450,797 shares of the energy company’s stock after buying an additional 86,291 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.40% of Ormat Technologies worth $104,030,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new stake in shares of Ormat Technologies during the 1st quarter worth approximately $50,000. GAMMA Investing LLC boosted its stake in Ormat Technologies by 115.3% in the second quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock valued at $52,000 after acquiring an additional 391 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Ormat Technologies by 50.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock worth $117,000 after acquiring an additional 514 shares during the period. TFO Wealth Partners LLC raised its position in shares of Ormat Technologies by 9,066.7% during the 4th quarter. TFO Wealth Partners LLC now owns 275 shares of the energy company’s stock valued at $227,000 after acquiring an additional 272 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Ormat Technologies in the 1st quarter valued at $246,000. 95.49% of the stock is currently owned by institutional investors.

Ormat Technologies Price Performance

Shares of ORA opened at $75.69 on Wednesday. The stock has a 50 day simple moving average of $74.40 and a 200 day simple moving average of $71.03. Ormat Technologies, Inc. has a 52-week low of $58.73 and a 52-week high of $78.51. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 0.97. The firm has a market capitalization of $4.57 billion, a PE ratio of 34.09, a P/E/G ratio of 3.68 and a beta of 0.53.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The firm had revenue of $212.96 million for the quarter, compared to analyst estimates of $214.07 million. During the same quarter in the previous year, the firm posted $0.40 earnings per share. The business’s revenue was up 9.3% on a year-over-year basis. Sell-side analysts predict that Ormat Technologies, Inc. will post 2.04 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Tuesday, August 20th. Ormat Technologies’s dividend payout ratio (DPR) is presently 21.62%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ORA shares. Oppenheimer lifted their price objective on Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. upped their price target on Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Finally, Roth Mkm reissued a “buy” rating and set a $80.00 price objective on shares of Ormat Technologies in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Ormat Technologies has an average rating of “Hold” and a consensus target price of $81.67.

Insider Buying and Selling at Ormat Technologies

In other news, Director Dafna Sharir sold 433 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $74.91, for a total value of $32,436.03. Following the sale, the director now directly owns 3,561 shares in the company, valued at $266,754.51. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Dafna Sharir sold 433 shares of Ormat Technologies stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total value of $32,436.03. Following the sale, the director now directly owns 3,561 shares in the company, valued at $266,754.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $94,924.68. Following the completion of the sale, the director now directly owns 6,906 shares in the company, valued at approximately $517,811.88. The disclosure for this sale can be found here. 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.