Dimensional Fund Advisors LP Acquires 93,418 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Dimensional Fund Advisors LP lifted its position in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 6.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,586,479 shares of the energy company's stock after purchasing an additional 93,418 shares during the period. Dimensional Fund Advisors LP owned 2.62% of Ormat Technologies worth $107,440,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. increased its position in Ormat Technologies by 5.6% during the fourth quarter. Principal Financial Group Inc. now owns 131,906 shares of the energy company's stock worth $8,933,000 after buying an additional 7,025 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Ormat Technologies by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company's stock worth $409,305,000 after acquiring an additional 274,540 shares during the last quarter. Element Capital Management LLC bought a new stake in Ormat Technologies in the 4th quarter valued at $2,113,000. Daiwa Securities Group Inc. acquired a new stake in Ormat Technologies during the 4th quarter valued at $752,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Ormat Technologies by 6.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 618,937 shares of the energy company's stock worth $41,914,000 after purchasing an additional 39,689 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ormat Technologies

In related news, Director David Granot sold 1,666 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $69.00, for a total transaction of $114,954.00. Following the completion of the sale, the director now owns 1,910 shares in the company, valued at approximately $131,790. This trade represents a 46.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jessica Woelfel sold 409 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total transaction of $29,509.35. Following the completion of the transaction, the insider now owns 6,094 shares in the company, valued at approximately $439,682.10. The trade was a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,242 shares of company stock valued at $156,427. 0.56% of the stock is owned by insiders.

Ormat Technologies Stock Up 0.5 %

ORA stock traded up $0.35 during trading on Tuesday, reaching $73.57. The stock had a trading volume of 375,416 shares, compared to its average volume of 484,236. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $4.46 billion, a price-to-earnings ratio of 37.54, a P/E/G ratio of 3.18 and a beta of 0.52. Ormat Technologies, Inc. has a one year low of $61.58 and a one year high of $84.30. The company's 50 day moving average is $70.51 and its two-hundred day moving average is $72.00.

Ormat Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Wednesday, March 12th. Ormat Technologies's dividend payout ratio is presently 23.53%.

Analysts Set New Price Targets

ORA has been the topic of several research analyst reports. Baird R W raised shares of Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. JPMorgan Chase & Co. boosted their price target on Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, February 28th. StockNews.com upgraded shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research note on Monday, April 7th. Robert W. Baird started coverage on shares of Ormat Technologies in a research report on Thursday, March 13th. They set a "neutral" rating and a $81.00 target price on the stock. Finally, Jefferies Financial Group lifted their price target on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, March 25th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $83.56.

Ormat Technologies 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.