Dimensional Fund Advisors LP Acquires 22,748 Shares of Ormat Technologies, Inc. $ORA

Dimensional Fund Advisors LP boosted its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,866,543 shares of the energy company’s stock after buying an additional 22,748 shares during the period. Dimensional Fund Advisors LP owned approximately 3.07% of Ormat Technologies worth $179,651,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Ormat Technologies in the 2nd quarter worth about $56,458,000. Groupama Asset Managment acquired a new position in Ormat Technologies during the 2nd quarter valued at about $41,880,000. Canada Pension Plan Investment Board boosted its stake in Ormat Technologies by 62.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock valued at $89,928,000 after purchasing an additional 413,384 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Ormat Technologies during the 2nd quarter worth approximately $18,310,000. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new stake in Ormat Technologies during the 3rd quarter worth approximately $14,005,000. 95.49% of the stock is owned by institutional investors.

Ormat Technologies Price Performance

Shares of NYSE ORA opened at $108.89 on Monday. The company has a market capitalization of $6.63 billion, a PE ratio of 54.17, a PEG ratio of 4.60 and a beta of 0.84. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 0.79. The stock’s 50 day moving average price is $117.89 and its 200-day moving average price is $108.94. Ormat Technologies, Inc. has a twelve month low of $64.39 and a twelve month high of $132.58.

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

Ormat Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.12 per share. 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 currently 23.88%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Oppenheimer raised their target price on Ormat Technologies from $125.00 to $136.00 and gave the company an “outperform” rating in a report on Tuesday, January 27th. Jefferies Financial Group downgraded Ormat Technologies from a “buy” rating to a “hold” rating and upped their price target for the stock from $125.00 to $130.00 in a report on Friday, February 13th. Citigroup increased their price target on Ormat Technologies from $110.00 to $128.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Piper Sandler raised their price objective on Ormat Technologies from $102.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Finally, Royal Bank Of Canada assumed coverage on shares of Ormat Technologies in a report on Tuesday, March 3rd. They set an “outperform” rating and a $130.00 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $129.09.

Insider Activity

In other news, insider Jessica Woelfel sold 2,359 shares of Ormat Technologies stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $105.16, for a total transaction of $248,072.44. Following the sale, the insider directly owned 3,433 shares in the company, valued at $361,014.28. The trade was a 40.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.56% of the stock is currently owned by corporate insiders.

Ormat Technologies 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.