Ormat Technologies, Inc. (NYSE:ORA) Major Shareholder Sells $278,906,000.00 in Stock

Ormat Technologies, Inc. (NYSE:ORA) major shareholder Corp Orix sold 3,700,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $75.38, for a total value of $278,906,000.00. Following the sale, the insider now directly owns 2,976,077 shares in the company, valued at approximately $224,336,684.26. The trade was a 55.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Ormat Technologies Stock Performance

NYSE ORA opened at $72.50 on Monday. 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, Inc. has a 1-year low of $59.41 and a 1-year high of $84.30. The business’s 50-day simple moving average is $79.25 and its 200-day simple moving average is $75.94. The firm has a market capitalization of $4.38 billion, a P/E ratio of 36.99, a P/E/G ratio of 4.15 and a beta of 0.53.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.05. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The business had revenue of $211.80 million for the quarter, compared to analyst estimates of $215.53 million. During the same quarter in the previous year, the business posted $0.47 EPS. The business’s quarterly revenue was up 1.8% on a year-over-year basis. Equities analysts predict that Ormat Technologies, Inc. will post 1.93 EPS for the current year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.66%. The ex-dividend date was Wednesday, November 20th. Ormat Technologies’s dividend payout ratio (DPR) is presently 24.49%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ORA. Oppenheimer raised their target price on shares of Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Roth Mkm reiterated a “buy” rating and set a $92.00 target price (up from $87.00) on shares of Ormat Technologies in a research report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $84.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in Ormat Technologies by 180.3% in the third quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock valued at $26,000 after acquiring an additional 229 shares in the last quarter. Harrington Investments INC lifted its position in shares of Ormat Technologies by 3.0% during the second quarter. Harrington Investments INC now owns 7,950 shares of the energy company’s stock worth $570,000 after purchasing an additional 230 shares during the last quarter. Arizona State Retirement System lifted its holdings in Ormat Technologies by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 15,214 shares of the energy company’s stock worth $1,091,000 after buying an additional 286 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Ormat Technologies by 107.7% in the 3rd quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock valued at $47,000 after acquiring an additional 320 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Ormat Technologies by 44.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,051 shares of the energy company’s stock valued at $81,000 after acquiring an additional 321 shares in the last quarter. 95.49% of the stock is currently owned by hedge funds and other 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.