Insider Selling: Ormat Technologies (NYSE:ORA) Insider Sells $14,659.44 in Stock

Ormat Technologies, Inc. (NYSE:ORA) insider Jessica Woelfel sold 136 shares of the company’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $107.79, for a total transaction of $14,659.44. Following the completion of the transaction, the insider directly owned 7,360 shares in the company, valued at $793,334.40. The trade was a 1.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Jessica Woelfel also recently made the following trade(s):

• On Tuesday, March 3rd, Jessica Woelfel sold 2,359 shares of Ormat Technologies stock. The shares were sold at an average price of $105.16, for a total transaction of $248,072.44.
• On Monday, March 2nd, Jessica Woelfel sold 869 shares of Ormat Technologies stock. The shares were sold at an average price of $104.59, for a total transaction of $90,888.71.

Ormat Technologies Price Performance

Ormat Technologies stock opened at $112.02 on Friday. The company’s 50 day simple moving average is $116.20 and its 200-day simple moving average is $110.54. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.75 and a current ratio of 0.81. Ormat Technologies, Inc. has a 1 year low of $64.39 and a 1 year high of $132.58. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 55.73, a price-to-earnings-growth ratio of 4.69 and a beta of 0.84.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Wednesday, February 25th. The energy company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. The firm had revenue of $276.04 million during the quarter, compared to analysts’ expectations of $257.75 million. Ormat Technologies had a net margin of 12.52% and a return on equity of 5.21%. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter last year, the company posted $0.67 EPS. As a group, equities research analysts expect that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.4%. Ormat Technologies’s payout ratio is presently 23.88%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ORA. UBS Group decreased their target price on Ormat Technologies from $148.00 to $143.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Royal Bank Of Canada began coverage on Ormat Technologies in a research report on Tuesday, March 3rd. They issued an “outperform” rating and a $130.00 target price for the company. Oppenheimer boosted their price target on shares of Ormat Technologies from $125.00 to $136.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 27th. Barclays increased their price target on shares of Ormat Technologies from $108.00 to $123.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Finally, TD Cowen dropped their price objective on shares of Ormat Technologies from $131.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 27th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Ormat Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.09.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in Ormat Technologies during the 4th quarter worth approximately $86,545,000. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Ormat Technologies by 155.8% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 886,526 shares of the energy company’s stock valued at $97,935,000 after purchasing an additional 540,000 shares during the last quarter. Groupama Asset Managment acquired a new stake in shares of Ormat Technologies in the 2nd quarter valued at $41,880,000. Canada Pension Plan Investment Board lifted its position in shares of Ormat Technologies by 62.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock worth $89,928,000 after purchasing an additional 413,384 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Ormat Technologies during the 2nd quarter worth $18,310,000. 95.49% of the stock is owned by institutional investors and hedge funds.

About Ormat Technologies

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.