Insider Selling: Ormat Technologies (NYSE:ORA) Insider Sells 136 Shares of Stock

Key Points

• Insider selling: Director Jessica Woelfel sold 136 shares on March 24 at an average of $107.79 (value $14,659.44), leaving her with 7,360 shares; combined with prior March sales (2,359 and 869 shares) she sold a total of 3,364 shares in March for about $353,621.
• Company performance and sentiment: Ormat reported Q results that met EPS expectations ($0.67) with revenue up 19.6% year‑over‑year to $276.04M, declared a $0.12 quarterly dividend (0.4% yield), and carries a consensus analyst rating of Moderate Buy with a $129.09 average price target.

Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) insider Jessica Woelfel sold 136 shares of Ormat Technologies stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $107.79, for a total value of $14,659.44. Following the sale, the insider owned 7,360 shares in the company, valued at $793,334.40. The trade was a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Jessica Woelfel also recently made the following trade(s):

• On Tuesday, March 3rd, Jessica Woelfel sold 2,359 shares of Ormat Technologies stock. The stock was sold at an average price of $105.16, for a total transaction of $248,072.44.
• On Monday, March 2nd, Jessica Woelfel sold 869 shares of Ormat Technologies stock. The shares were sold at an average price of $104.59, for a total transaction of $90,888.71.

Ormat Technologies Stock Performance

NYSE ORA opened at $110.05 on Wednesday. The company has a market capitalization of $6.70 billion, a PE ratio of 54.75, a price-to-earnings-growth ratio of 4.61 and a beta of 0.84. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.75 and a current ratio of 0.81. Ormat Technologies, Inc. has a 52-week low of $64.39 and a 52-week high of $132.58. The company has a 50-day simple moving average of $116.59 and a 200 day simple moving average of $110.39.

Ormat Technologies (NYSE:ORA - Get Free Report) last released its earnings results on Wednesday, February 25th. The energy company reported $0.67 earnings per share for the quarter, meeting analysts' consensus estimates of $0.67. Ormat Technologies had a net margin of 12.52% and a return on equity of 5.21%. The firm had revenue of $276.04 million for the quarter, compared to analysts' expectations of $257.75 million. During the same period in the previous year, the company earned $0.67 earnings per share. The company's quarterly revenue was up 19.6% on a year-over-year basis. On average, research analysts predict that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, March 10th. Ormat Technologies's dividend payout ratio is currently 23.88%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Weiss Ratings restated a "hold (c)" rating on shares of Ormat Technologies in a research note on Thursday, January 22nd. Roth Mkm set a $139.00 target price on shares of Ormat Technologies in a research report on Wednesday, January 28th. Barclays lifted their target price on shares of Ormat Technologies from $108.00 to $123.00 and gave the stock an "overweight" rating in a research note on Monday, March 2nd. Jefferies Financial Group cut shares of Ormat Technologies from a "buy" rating to a "hold" rating and upped their price target for the company from $125.00 to $130.00 in a research note on Friday, February 13th. Finally, Citigroup raised their price objective on shares of Ormat Technologies from $110.00 to $128.00 and gave the stock a "neutral" rating in a report on Wednesday, February 18th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $129.09.

Institutional Trading of Ormat Technologies

A number of institutional investors have recently added to or reduced their stakes in ORA. RWC Asset Management LLP increased its position in shares of Ormat Technologies by 8.8% during the third quarter. RWC Asset Management LLP now owns 136,101 shares of the energy company's stock valued at $13,100,000 after buying an additional 11,063 shares during the period. Retirement Systems of Alabama boosted its position in shares of Ormat Technologies by 169.7% in the third quarter. Retirement Systems of Alabama now owns 189,988 shares of the energy company's stock valued at $18,286,000 after acquiring an additional 119,552 shares during the period. Assenagon Asset Management S.A. purchased a new position in Ormat Technologies during the third quarter valued at approximately $3,738,000. AGF Management Ltd. purchased a new position in Ormat Technologies during the third quarter valued at approximately $9,527,000. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new stake in Ormat Technologies during the 3rd quarter worth approximately $14,005,000. Hedge funds and other institutional investors own 95.49% of the company's stock.

Ormat Technologies Company Profile

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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