Insider Selling: Ormat Technologies, Inc. (NYSE:ORA) Director Sells 433 Shares of Stock

Ormat Technologies, Inc. (NYSE:ORA) Director Dafna Sharir sold 433 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total value of $32,436.03. Following the completion of the sale, the director now owns 3,561 shares in the company, valued at $266,754.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Ormat Technologies Stock Performance

NYSE:ORA opened at $74.73 on Tuesday. The business has a 50 day moving average price of $73.55 and a 200-day moving average price of $69.77. Ormat Technologies, Inc. has a fifty-two week low of $58.73 and a fifty-two week high of $78.51. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 0.97. The firm has a market cap of $4.52 billion, a PE ratio of 33.65, a price-to-earnings-growth ratio of 3.62 and a beta of 0.51.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The firm had revenue of $212.96 million for the quarter, compared to analyst estimates of $214.07 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts predict that Ormat Technologies, Inc. will post 2.04 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Tuesday, August 20th. Ormat Technologies’s dividend payout ratio (DPR) is presently 21.62%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ORA shares. Barclays reduced their target price on shares of Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating for the company in a research note on Monday, May 13th. UBS Group lifted their price target on Ormat Technologies from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Roth Mkm restated a “buy” rating and issued a $80.00 target price on shares of Ormat Technologies in a research note on Monday, August 12th. JPMorgan Chase & Co. upped their price target on Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Finally, TD Cowen increased their target price on shares of Ormat Technologies from $70.00 to $76.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $81.67.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Ormat Technologies by 1.2% in the first quarter. Vanguard Group Inc. now owns 5,388,571 shares of the energy company’s stock worth $356,670,000 after acquiring an additional 63,943 shares during the last quarter. Global Alpha Capital Management Ltd. increased its stake in Ormat Technologies by 9.3% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 2,313,856 shares of the energy company’s stock valued at $177,552,000 after purchasing an additional 196,517 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in 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 worth $104,030,000 after buying an additional 86,291 shares during the last quarter. Van Berkom & Associates Inc. lifted its stake in shares of Ormat Technologies by 2.0% in the second quarter. Van Berkom & Associates Inc. now owns 1,322,936 shares of the energy company’s stock worth $94,855,000 after buying an additional 25,799 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Ormat Technologies by 3.5% during the fourth quarter. Wellington Management Group LLP now owns 1,041,169 shares of the energy company’s stock valued at $78,910,000 after buying an additional 35,665 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors.

Ormat Technologies Company 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.