Charles Schwab Investment Management Inc. Has $44.57 Million Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Charles Schwab Investment Management Inc. trimmed its holdings in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 2.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 579,248 shares of the energy company's stock after selling 13,214 shares during the period. Charles Schwab Investment Management Inc. owned 0.96% of Ormat Technologies worth $44,567,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Y.D. More Investments Ltd increased its position in shares of Ormat Technologies by 1,011.5% in the second quarter. Y.D. More Investments Ltd now owns 493,619 shares of the energy company's stock worth $34,943,000 after acquiring an additional 449,209 shares in the last quarter. Global Alpha Capital Management Ltd. lifted its stake in shares of Ormat Technologies by 6.1% during 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of 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 buying an additional 86,291 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Ormat Technologies by 23.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 178,217 shares of the energy company's stock valued at $12,778,000 after buying an additional 33,439 shares during the period. Finally, Van Berkom & Associates Inc. lifted its position in Ormat Technologies by 2.0% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,322,936 shares of the energy company's stock worth $94,855,000 after acquiring an additional 25,799 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company's stock.

Ormat Technologies Stock Performance

Shares of NYSE ORA traded up $0.07 during midday trading on Monday, reaching $81.70. 359,112 shares of the company traded hands, compared to its average volume of 435,904. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 41.81, a PEG ratio of 4.22 and a beta of 0.53. The stock has a 50-day moving average price of $78.89 and a 200 day moving average price of $75.57. Ormat Technologies, Inc. has a 52 week low of $59.41 and a 52 week high of $84.30. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87.

Ormat Technologies (NYSE:ORA - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.05. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The firm had revenue of $211.80 million during the quarter, compared to analyst estimates of $215.53 million. During the same period last year, the company posted $0.47 EPS. The firm's quarterly revenue was up 1.8% on a year-over-year basis. Sell-side analysts anticipate that Ormat Technologies, Inc. will post 1.93 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.12 per share. 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%.

Insider Buying and Selling at Ormat Technologies

In other news, Director Byron G. Wong sold 1,266 shares of the business's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the sale, the director now owns 6,906 shares in the company, valued at $517,811.88. The trade was a 15.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Roth Mkm reiterated a "buy" rating and issued a $92.00 price objective (up previously from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Oppenheimer increased their price target on Ormat Technologies from $86.00 to $91.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Ormat Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $84.50.

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.