Insider Selling: Ormat Technologies (NYSE:ORA) Director Sells $108,114.52 in Stock

Ormat Technologies, Inc. (NYSE:ORA) Director Dafna Sharir sold 883 shares of Ormat Technologies stock in a transaction on Monday, May 11th. The stock was sold at an average price of $122.44, for a total transaction of $108,114.52. Following the completion of the transaction, the director directly owned 3,140 shares of the company’s stock, valued at approximately $384,461.60. This represents a 21.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ormat Technologies Stock Up 5.7%

ORA stock opened at $133.35 on Thursday. The firm has a market cap of $8.19 billion, a price-to-earnings ratio of 64.74, a PEG ratio of 5.55 and a beta of 0.80. Ormat Technologies, Inc. has a 1-year low of $70.42 and a 1-year high of $135.33. The firm has a fifty day moving average price of $112.67 and a two-hundred day moving average price of $114.05. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.07 and a quick ratio of 1.02.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.38. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The company had revenue of $403.91 million for the quarter, compared to the consensus estimate of $349.17 million. During the same period last year, the firm posted $0.68 EPS. The company’s revenue for the quarter was up 75.8% on a year-over-year basis. Research analysts predict that Ormat Technologies, Inc. will post 2.27 EPS for the current year.

Ormat Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 20th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. Ormat Technologies’s dividend payout ratio is 23.30%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ORA shares. Citigroup raised their price target on Ormat Technologies from $110.00 to $128.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. 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 on the stock. Robert W. Baird cut their target price on Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Roth Mkm reissued a “buy” rating and set a $135.00 price target on shares of Ormat Technologies in a report on Monday. Finally, TD Cowen lowered their price target on shares of Ormat Technologies from $131.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.64.

Hedge Funds Weigh In On Ormat Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in Ormat Technologies by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,910,292 shares of the energy company’s stock valued at $211,036,000 after acquiring an additional 43,749 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Ormat Technologies by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 1,611,360 shares of the energy company’s stock valued at $178,033,000 after purchasing an additional 102,864 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Ormat Technologies by 32.7% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,147,863 shares of the energy company’s stock valued at $128,469,000 after purchasing an additional 282,583 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Ormat Technologies by 62.6% during the second quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock valued at $89,928,000 after purchasing an additional 413,384 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Ormat Technologies by 155.8% during the fourth 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 in the last quarter. 95.49% of the stock is owned by institutional investors.

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.