Insider Selling: Ormat Technologies, Inc. (NYSE:ORA) Director Sells 547 Shares of Stock

Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) Director Stanley Stern sold 547 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $85.54, for a total transaction of $46,790.38. Following the completion of the sale, the director now owns 6,137 shares in the company, valued at $524,958.98. The trade was a 8.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Ormat Technologies Price Performance

Ormat Technologies stock opened at $84.32 on Friday. The company has a fifty day simple moving average of $76.01 and a 200-day simple moving average of $71.05. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 40.93, a PEG ratio of 4.09 and a beta of 0.60. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.77. Ormat Technologies, Inc. has a 52-week low of $61.58 and a 52-week high of $87.20.

Ormat Technologies (NYSE:ORA - Get Free Report) last released its 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. Ormat Technologies had a net margin of 14.18% and a return on equity of 5.35%. The business had revenue of $229.76 million for the quarter, compared to analyst estimates of $228.33 million. During the same period last year, the company posted $0.64 EPS. The business's revenue was up 2.5% on a year-over-year basis. On average, equities analysts anticipate that Ormat Technologies, Inc. will post 1.94 EPS 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 issued 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 dividend payout ratio is presently 23.30%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Stuart Chaussee & Associates Inc. purchased a new position in Ormat Technologies during the fourth quarter worth about $34,000. AlphaQuest LLC increased its position in shares of Ormat Technologies by 4,691.7% during the 4th quarter. AlphaQuest LLC now owns 575 shares of the energy company's stock worth $39,000 after purchasing an additional 563 shares during the last quarter. UMB Bank n.a. raised its holdings in Ormat Technologies by 42.6% in the 1st quarter. UMB Bank n.a. now owns 880 shares of the energy company's stock valued at $62,000 after buying an additional 263 shares during the period. Signaturefd LLC boosted its stake in Ormat Technologies by 60.6% during the first quarter. Signaturefd LLC now owns 890 shares of the energy company's stock worth $63,000 after buying an additional 336 shares during the period. Finally, CWM LLC increased its position in shares of Ormat Technologies by 294.2% during the first quarter. CWM LLC now owns 887 shares of the energy company's stock valued at $63,000 after acquiring an additional 662 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wall Street Zen raised shares of Ormat Technologies from a "sell" rating to a "hold" rating in a report on Monday, April 7th. Baird R W raised shares of Ormat Technologies to a "hold" rating in a research note on Thursday, March 13th. JPMorgan Chase & Co. raised their target price on Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, February 28th. Barclays raised Ormat Technologies from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $80.00 to $86.00 in a report on Friday, June 6th. Finally, Robert W. Baird started coverage on Ormat Technologies in a report on Thursday, March 13th. They issued a "neutral" rating and a $81.00 price objective on the stock. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $84.14.

About Ormat Technologies

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.