Charles Schwab Investment Management Inc. Boosts Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

Charles Schwab Investment Management Inc. raised its position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 6.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 618,937 shares of the energy company's stock after purchasing an additional 39,689 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.02% of Ormat Technologies worth $41,914,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Global Alpha Capital Management Ltd. grew its holdings in shares of Ormat Technologies by 6.1% in the third quarter. Global Alpha Capital Management Ltd. now owns 2,446,624 shares of the energy company's stock worth $188,125,000 after purchasing an additional 140,882 shares during the last quarter. Impax Asset Management Group plc boosted its position in Ormat Technologies by 7.3% in the 4th quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company's stock valued at $162,586,000 after buying an additional 163,505 shares during the period. Geode Capital Management LLC grew its stake in Ormat Technologies by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,301,291 shares of the energy company's stock worth $100,140,000 after acquiring an additional 22,714 shares in the last quarter. Y.D. More Investments Ltd increased its position in shares of Ormat Technologies by 13.2% during the fourth quarter. Y.D. More Investments Ltd now owns 524,416 shares of the energy company's stock worth $36,030,000 after acquiring an additional 61,236 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of Ormat Technologies by 8.6% during the fourth quarter. Van ECK Associates Corp now owns 418,653 shares of the energy company's stock valued at $28,352,000 after acquiring an additional 33,279 shares in the last quarter. Institutional investors own 95.49% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages recently issued reports on ORA. Jefferies Financial Group raised Ormat Technologies from a "hold" rating to a "buy" rating and increased their price objective for the stock from $73.00 to $78.00 in a research note on Thursday, February 20th. Piper Sandler started coverage on Ormat Technologies in a research report on Thursday, December 19th. They set a "neutral" rating and a $78.00 price target on the stock. Baird R W upgraded Ormat Technologies to a "hold" rating in a report on Thursday, March 13th. Robert W. Baird initiated coverage on shares of Ormat Technologies in a research note on Thursday, March 13th. They issued a "neutral" rating and a $81.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, February 28th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $82.67.

Insider Buying and Selling

In related news, Director David Granot sold 1,666 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $69.00, for a total value of $114,954.00. Following the completion of the transaction, the director now directly owns 1,910 shares of the company's stock, valued at $131,790. This trade represents a 46.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

Ormat Technologies Stock Down 0.5 %

Shares of NYSE:ORA traded down $0.36 during trading on Wednesday, reaching $71.74. The stock had a trading volume of 277,339 shares, compared to its average volume of 529,838. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $4.34 billion, a P/E ratio of 36.54, a PEG ratio of 3.18 and a beta of 0.51. The firm's 50-day simple moving average is $66.97 and its 200 day simple moving average is $72.96. Ormat Technologies, Inc. has a one year low of $59.41 and a one year high of $84.30.

Ormat Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be given a $0.12 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.67%. Ormat Technologies's payout ratio is 23.53%.

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.