Dimensional Fund Advisors LP Lowers Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Dimensional Fund Advisors LP lowered its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 1.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,510,899 shares of the energy company’s stock after selling 15,902 shares during the quarter. Dimensional Fund Advisors LP owned 2.99% of Ormat Technologies worth $92,245,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its position in shares of Ormat Technologies by 8.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 180,535 shares of the energy company’s stock valued at $11,022,000 after purchasing an additional 14,571 shares during the last quarter. Impax Asset Management LTD increased its position in shares of Ormat Technologies by 21.4% during the 3rd quarter. Impax Asset Management LTD now owns 605,795 shares of the energy company’s stock valued at $36,984,000 after purchasing an additional 106,654 shares during the last quarter. Investec Asset Management LTD increased its position in shares of Ormat Technologies by 4.2% during the 3rd quarter. Investec Asset Management LTD now owns 44,584 shares of the energy company’s stock valued at $2,722,000 after purchasing an additional 1,797 shares during the last quarter. Impax Asset Management AIFM Ltd increased its position in shares of Ormat Technologies by 2.1% during the 3rd quarter. Impax Asset Management AIFM Ltd now owns 289,712 shares of the energy company’s stock valued at $17,687,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Ormat Technologies by 2.9% during the 3rd quarter. Wells Fargo & Company MN now owns 46,654 shares of the energy company’s stock valued at $2,848,000 after purchasing an additional 1,311 shares during the last quarter. 46.34% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently weighed in on ORA shares. Zacks Investment Research downgraded Ormat Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Roth Capital set a $70.00 target price on Ormat Technologies and gave the company a “buy” rating in a research report on Monday, November 13th. Guggenheim assumed coverage on Ormat Technologies in a research report on Monday, January 8th. They set a “buy” rating and a $72.00 target price on the stock. Oppenheimer reaffirmed a “buy” rating and issued a $70.00 price objective (up previously from $65.00) on shares of Ormat Technologies in a research report on Wednesday, September 27th. Finally, TheStreet raised Ormat Technologies from a “c+” rating to a “b-” rating in a research report on Monday, November 13th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Ormat Technologies currently has a consensus rating of “Buy” and an average price target of $68.71.

Shares of Ormat Technologies, Inc. (NYSE ORA) traded up $0.34 during trading on Friday, reaching $66.07. The company’s stock had a trading volume of 161,536 shares, compared to its average volume of 163,382. The company has a market cap of $3,325.75, a P/E ratio of 28.36, a PEG ratio of 1.96 and a beta of 1.23. The company has a quick ratio of 1.62, a current ratio of 1.72 and a debt-to-equity ratio of 0.65. Ormat Technologies, Inc. has a 12 month low of $52.19 and a 12 month high of $66.46.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data on Tuesday, November 7th. The energy company reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.06). The business had revenue of $157.20 million during the quarter, compared to the consensus estimate of $159.02 million. Ormat Technologies had a net margin of 16.99% and a return on equity of 9.41%. The business’s revenue was down 14.8% compared to the same quarter last year. During the same period last year, the company earned $0.56 EPS. equities analysts anticipate that Ormat Technologies, Inc. will post 2.21 EPS for the current year.

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About Ormat Technologies

Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.

Institutional Ownership by Quarter for Ormat Technologies (NYSE:ORA)

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