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 business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $85.54, for a total value of $46,790.38. Following the completion of the sale, the director now owns 6,137 shares of the company's stock, valued at approximately $524,958.98. This trade represents a 8.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Ormat Technologies Stock Performance

Shares of ORA traded down $0.27 during midday trading on Tuesday, reaching $86.32. 501,316 shares of the stock were exchanged, compared to its average volume of 487,745. The stock's 50 day simple moving average is $74.87 and its 200 day simple moving average is $70.76. Ormat Technologies, Inc. has a twelve month low of $61.58 and a twelve month high of $88.69. The company has a market cap of $5.23 billion, a P/E ratio of 41.90, a PEG ratio of 4.03 and a beta of 0.61. 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 (NYSE:ORA - Get Free Report) last issued 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. Ormat Technologies had a net margin of 14.18% and a return on equity of 5.35%. The company had revenue of $229.76 million during the quarter, compared to the consensus estimate of $228.33 million. During the same quarter in the prior year, the firm posted $0.64 EPS. The firm's quarterly revenue was up 2.5% on a year-over-year basis. On average, sell-side analysts expect that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 21st were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $0.48 dividend on an annualized basis and a yield of 0.56%. Ormat Technologies's dividend payout ratio is currently 23.30%.

Hedge Funds Weigh In On Ormat Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake in shares of Ormat Technologies by 5.6% in the fourth quarter. Principal Financial Group Inc. now owns 131,906 shares of the energy company's stock valued at $8,933,000 after buying an additional 7,025 shares during the period. Vanguard Group Inc. increased its stake in Ormat Technologies by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company's stock valued at $409,305,000 after purchasing an additional 274,540 shares in the last quarter. Element Capital Management LLC acquired a new stake in shares of Ormat Technologies in the 4th quarter worth about $2,113,000. Daiwa Securities Group Inc. bought a new position in shares of Ormat Technologies in the fourth quarter valued at approximately $752,000. Finally, Franklin Resources Inc. purchased a new position in Ormat Technologies during the 4th quarter worth $526,000. Institutional investors and hedge funds own 95.49% of the company's stock.

Wall Street Analysts Forecast Growth

ORA has been the topic of several recent research reports. Wall Street Zen upgraded shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research report on Monday, April 7th. 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 for the company. JPMorgan Chase & Co. upped their target price 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. Baird R W raised shares of Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. Finally, Jefferies Financial Group upped their price objective on Ormat Technologies from $78.00 to $86.00 and gave the stock a "buy" rating in a research note on Tuesday, March 25th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target 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.

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