Insider Selling: Ormat Technologies, Inc. (NYSE:ORA) Director Sells 1,601 Shares of Stock

Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) Director Dafna Sharir sold 1,601 shares of the company's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $85.63, for a total value of $137,093.63. Following the completion of the sale, the director now owns 3,238 shares in the company, valued at $277,269.94. This represents a 33.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Dafna Sharir also recently made the following trade(s):

• On Monday, May 19th, Dafna Sharir sold 876 shares of Ormat Technologies stock. The shares were sold at an average price of $75.00, for a total transaction of $65,700.00.

Ormat Technologies Trading Down 1.3%

NYSE:ORA opened at $84.32 on Friday. The stock has a market cap of $5.11 billion, a price-to-earnings ratio of 40.93, a price-to-earnings-growth ratio of 4.09 and a beta of 0.60. Ormat Technologies, Inc. has a one year low of $61.58 and a one year high of $87.20. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.90 and a current ratio of 0.97. The business's 50-day simple moving average is $76.01 and its 200 day simple moving average is $71.05.

Ormat Technologies (NYSE:ORA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.10. The business had revenue of $229.76 million during the quarter, compared to the consensus estimate of $228.33 million. Ormat Technologies had a net margin of 14.18% and a return on equity of 5.35%. The business's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 earnings per share. As a group, sell-side analysts predict that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 21st were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $0.48 annualized dividend and a dividend yield of 0.57%. Ormat Technologies's payout ratio is 23.30%.

Institutional Trading of Ormat Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Ormat Technologies by 273,109.4% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 956,233 shares of the energy company's stock valued at $67,673,000 after acquiring an additional 955,883 shares during the last quarter. Norges Bank acquired a new position in Ormat Technologies in the fourth quarter worth $62,851,000. Canada Pension Plan Investment Board increased its stake in Ormat Technologies by 7,951.9% during the first quarter. Canada Pension Plan Investment Board now owns 660,255 shares of the energy company's stock valued at $46,726,000 after purchasing an additional 652,055 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ormat Technologies by 19.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,890,235 shares of the energy company's stock worth $133,770,000 after purchasing an additional 303,756 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Ormat Technologies by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company's stock worth $409,305,000 after buying an additional 274,540 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Robert W. Baird started coverage on shares of Ormat Technologies in a research note on Thursday, March 13th. They issued a "neutral" rating and a $81.00 target price for the company. Jefferies Financial Group increased their target price on Ormat Technologies from $78.00 to $86.00 and gave the stock a "buy" rating in a research report on Tuesday, March 25th. Wall Street Zen raised shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research report on Monday, April 7th. JPMorgan Chase & Co. boosted their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, February 28th. Finally, Baird R W upgraded shares of Ormat Technologies to a "hold" rating in a report on Thursday, March 13th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $84.14.

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.