Ormat Technologies (NYSE:ORA) Director Dafna Sharir Sells 883 Shares of Stock

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

Ormat Technologies Stock Performance

Shares of NYSE ORA opened at $123.70 on Tuesday. The business’s 50-day simple moving average is $111.70 and its 200-day simple moving average is $113.69. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.07. Ormat Technologies, Inc. has a 52 week low of $70.42 and a 52 week high of $132.58. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of 60.05, a P/E/G ratio of 5.33 and a beta of 0.80.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.38. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.97%.The firm had revenue of $403.91 million during the quarter, compared to analyst estimates of $349.17 million. During the same period in the previous year, the company earned $0.68 EPS. The company’s revenue for the quarter was up 75.8% on a year-over-year basis. As a group, equities research analysts expect that Ormat Technologies, Inc. will post 2.28 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

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

Institutional Investors Weigh In On Ormat Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its stake in shares of Ormat Technologies by 13.0% during the fourth quarter. Signaturefd LLC now owns 746 shares of the energy company’s stock valued at $82,000 after acquiring an additional 86 shares during the period. Quadrant Capital Group LLC increased its position in Ormat Technologies by 9.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,153 shares of the energy company’s stock worth $127,000 after purchasing an additional 99 shares during the period. Jones Financial Companies Lllp raised its holdings in Ormat Technologies by 43.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock worth $35,000 after purchasing an additional 113 shares during the last quarter. State of Wyoming raised its holdings in Ormat Technologies by 6.7% during the 4th quarter. State of Wyoming now owns 2,091 shares of the energy company’s stock worth $231,000 after purchasing an additional 131 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Ormat Technologies by 7.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,167 shares of the energy company’s stock valued at $239,000 after purchasing an additional 144 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Citigroup lifted their price target on Ormat Technologies from $110.00 to $128.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. Weiss Ratings restated a “hold (c)” rating on shares of Ormat Technologies in a research note on Tuesday, April 21st. JPMorgan Chase & Co. boosted their target price on shares of Ormat Technologies from $106.00 to $123.00 and gave the stock a “neutral” rating in a research report on Friday. Royal Bank Of Canada began coverage on shares of Ormat Technologies in a research note on Tuesday, March 3rd. They set an “outperform” rating and a $130.00 target price for the company. Finally, Jefferies Financial Group downgraded shares of Ormat Technologies from a “buy” rating to a “hold” rating and increased their price target for the company from $125.00 to $130.00 in a report on Friday, February 13th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Ormat Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $131.64.

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.