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

Key Points

• Director Dafna Sharir sold 883 shares of Ormat Technologies on May 11 at an average price of $122.44, for total proceeds of about $108,115. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Ormat Technologies shares were up 1.7% in trading, reaching $123.70 on heavier-than-normal volume. The stock has traded between $70.42 and $132.58 over the past year.
• The company reported strong quarterly results, with earnings of $1.30 per share versus estimates of $0.92 and revenue of $403.91 million, up 75.8% year over year. Ormat also объявed a quarterly dividend of $0.12 per share, and analysts currently rate the stock a Moderate Buy with a consensus price target of $131.64.

Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) Director Dafna Sharir sold 883 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $122.44, for a total transaction of $108,114.52. Following the transaction, the director owned 3,140 shares in the company, valued at approximately $384,461.60. The trade was a 21.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ormat Technologies Trading Up 1.7%

Shares of ORA stock traded up $2.03 during trading hours on Monday, hitting $123.70. 1,232,485 shares of the company were exchanged, compared to its average volume of 821,299. The firm has a market cap of $7.60 billion, a PE ratio of 60.05, a PEG ratio of 5.33 and a beta of 0.80. Ormat Technologies, Inc. has a 1 year low of $70.42 and a 1 year high of $132.58. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.87. The firm has a fifty day moving average of $111.26 and a 200 day moving average of $113.47.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $403.91 million for the quarter, compared to analyst estimates of $349.17 million. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The company's revenue was up 75.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 EPS. Analysts expect that Ormat Technologies, Inc. will post 2.28 earnings per share for the current year.

Ormat Technologies Announces Dividend

The business also recently disclosed 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. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, May 20th. Ormat Technologies's dividend payout ratio is presently 23.30%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ORA. AQR Capital Management LLC raised its holdings in Ormat Technologies by 324.1% in the first quarter. AQR Capital Management LLC now owns 24,918 shares of the energy company's stock valued at $1,740,000 after buying an additional 19,043 shares during the period. United Services Automobile Association purchased a new position in Ormat Technologies in the first quarter valued at approximately $243,000. Empowered Funds LLC raised its holdings in Ormat Technologies by 7.3% in the first quarter. Empowered Funds LLC now owns 4,201 shares of the energy company's stock valued at $297,000 after buying an additional 286 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Ormat Technologies by 22.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 234,467 shares of the energy company's stock valued at $16,593,000 after buying an additional 43,483 shares during the period. Finally, Intech Investment Management LLC grew its position in Ormat Technologies by 10.5% in the first quarter. Intech Investment Management LLC now owns 24,592 shares of the energy company's stock valued at $1,740,000 after acquiring an additional 2,329 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. TD Cowen cut their price objective on shares of Ormat Technologies from $131.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, February 27th. Robert W. Baird cut their price objective on shares of Ormat Technologies from $143.00 to $130.00 and set an "outperform" rating on the stock in a report on Friday, February 27th. Oppenheimer reiterated an "outperform" rating and set a $144.00 price objective on shares of Ormat Technologies in a report on Friday. Jefferies Financial Group lowered shares of Ormat Technologies from a "buy" rating to a "hold" rating and increased their price objective for the stock from $125.00 to $130.00 in a report on Friday, February 13th. Finally, JPMorgan Chase & Co. raised their price target on shares of Ormat Technologies from $106.00 to $123.00 and gave the company a "neutral" rating in a report on Friday. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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