Ormat Technologies (NYSE:ORA) Director Sells $18,393.57 in Stock

Key Points

• Ormat Technologies Director David Granot sold 199 shares for a total of $18,393.57, decreasing his position by 7.43% and leaving him with 2,479 shares valued at approximately $229,133.97.
• The company declared a quarterly dividend of $0.12 per share, which will be paid on September 3rd, marking a dividend yield of 0.5% and a payout ratio of 22.33%.
• Analysts have recently updated their price targets for Ormat Technologies, with a consensus target price of $93.30, reflecting a "Moderate Buy" rating for the stock.

Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) Director David Granot sold 199 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $92.43, for a total value of $18,393.57. Following the transaction, the director directly owned 2,479 shares of the company's stock, valued at approximately $229,133.97. This trade represents a 7.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ormat Technologies Stock Down 1.2%

ORA stock traded down $1.11 on Friday, reaching $91.86. 737,659 shares of the company traded hands, compared to its average volume of 587,154. Ormat Technologies, Inc. has a one year low of $61.58 and a one year high of $95.36. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.64. The company has a market cap of $5.58 billion, a P/E ratio of 42.73, a price-to-earnings-growth ratio of 4.27 and a beta of 0.68. The firm has a fifty day simple moving average of $88.60 and a 200-day simple moving average of $77.85.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The energy company reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.11. Ormat Technologies had a net margin of 14.49% and a return on equity of 5.47%. The company had revenue of $234.02 million during the quarter, compared to analyst estimates of $225.26 million. During the same period in the previous year, the business earned $0.37 EPS. The firm's revenue for the quarter was up 9.9% on a year-over-year basis. Research analysts anticipate that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Wednesday, August 20th. Ormat Technologies's payout ratio is presently 22.33%.

Institutional Investors Weigh In On Ormat Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas purchased a new stake in Ormat Technologies during the 1st quarter valued at $593,000. Empower Advisory Group LLC grew its position in shares of Ormat Technologies by 6.5% during the 1st quarter. Empower Advisory Group LLC now owns 215,327 shares of the energy company's stock valued at $15,239,000 after acquiring an additional 13,061 shares during the period. Bayforest Capital Ltd grew its position in shares of Ormat Technologies by 2,293.3% during the 1st quarter. Bayforest Capital Ltd now owns 6,773 shares of the energy company's stock valued at $479,000 after acquiring an additional 6,490 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Ormat Technologies by 273,109.4% during 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 period. Finally, GAMMA Investing LLC grew its position in shares of Ormat Technologies by 4,485.0% during the 1st quarter. GAMMA Investing LLC now owns 39,844 shares of the energy company's stock valued at $2,820,000 after acquiring an additional 38,975 shares during the period. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Ormat Technologies from $75.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Roth Capital restated a "buy" rating and issued a $98.00 price objective (up from $88.00) on shares of Ormat Technologies in a report on Tuesday, August 5th. Robert W. Baird upgraded shares of Ormat Technologies from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $87.00 to $103.00 in a report on Wednesday, July 30th. Baird R W upgraded shares of Ormat Technologies from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. Finally, Cowen restated a "hold" rating on shares of Ormat Technologies in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Ormat Technologies has an average rating of "Moderate Buy" and a consensus target price of $93.30.

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.