Ormat Technologies, Inc. (ORA) Director David Granot Sells 2,500 Shares of Stock
Ormat Technologies, Inc. (NYSE:ORA) Director David Granot sold 2,500 shares of Ormat Technologies stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $57.66, for a total value of $144,150.00. Following the completion of the transaction, the director now owns 2,500 shares in the company, valued at $144,150. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Ormat Technologies, Inc. (NYSE:ORA) opened at 58.09 on Tuesday. The stock has a market capitalization of $2.90 billion, a P/E ratio of 26.50 and a beta of 1.20. Ormat Technologies, Inc. has a 52 week low of $45.30 and a 52 week high of $61.49. The company’s 50-day moving average price is $57.23 and its 200 day moving average price is $58.00.
Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Thursday, August 3rd. The energy company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.03. Ormat Technologies had a return on equity of 10.25% and a net margin of 15.36%. The company had revenue of $179.36 million for the quarter, compared to analysts’ expectations of $169.80 million. During the same period last year, the firm earned $0.49 earnings per share. Ormat Technologies’s quarterly revenue was up 12.2% on a year-over-year basis. Equities research analysts expect that Ormat Technologies, Inc. will post $2.29 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 15th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Friday, August 11th. Ormat Technologies’s dividend payout ratio is presently 14.61%.
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A number of institutional investors have recently bought and sold shares of ORA. Russell Investments Group Ltd. raised its stake in Ormat Technologies by 649.8% in the first quarter. Russell Investments Group Ltd. now owns 17,905 shares of the energy company’s stock valued at $1,022,000 after buying an additional 15,517 shares in the last quarter. Wells Fargo & Company MN raised its stake in Ormat Technologies by 6.3% in the first quarter. Wells Fargo & Company MN now owns 49,488 shares of the energy company’s stock valued at $2,825,000 after buying an additional 2,918 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in Ormat Technologies by 1.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 40,261 shares of the energy company’s stock valued at $2,298,000 after buying an additional 770 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Ormat Technologies in the first quarter valued at $177,000. Finally, Capital Fund Management S.A. acquired a new stake in Ormat Technologies in the first quarter valued at $234,000. Institutional investors own 46.41% of the company’s stock.
A number of research analysts have recently issued reports on the company. Cowen and Company set a $67.00 price target on Ormat Technologies and gave the company a “buy” rating in a report on Friday, August 18th. TheStreet downgraded Ormat Technologies from a “b” rating to a “c+” rating in a report on Monday, August 14th. J P Morgan Chase & Co upgraded Ormat Technologies from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $65.00 to $71.00 in a report on Wednesday, June 7th. BidaskClub upgraded Ormat Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Finally, Barclays PLC upgraded Ormat Technologies from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $54.00 to $59.00 in a research note on Friday, May 26th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Ormat Technologies currently has a consensus rating of “Buy” and an average price target of $65.38.
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.
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