Insider Selling: Ormat Technologies (NYSE:ORA) Insider Sells 692 Shares of Stock

Key Points

• Insider Jessica Woelfel sold 692 shares of Ormat Technologies stock at an average price of $94.57, a transaction that decreased her ownership by 11.68%.
• Ormat Technologies reported earnings of $0.48 EPS for the last quarter, surpassing analysts' expectations and showing a 9.9% revenue increase year-over-year.
• The company recently announced a quarterly dividend of $0.12 per share, yielding 0.5%, with the dividend to be paid on September 3rd.

Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) insider Jessica Woelfel sold 692 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $94.57, for a total value of $65,442.44. Following the transaction, the insider directly owned 5,234 shares in the company, valued at $494,979.38. The trade was a 11.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Ormat Technologies Stock Down 2.3%

NYSE:ORA traded down $2.1760 during trading hours on Monday, hitting $92.6740. 541,548 shares of the company's stock traded hands, compared to its average volume of 560,977. The firm has a market cap of $5.63 billion, a P/E ratio of 43.10, a P/E/G ratio of 4.41 and a beta of 0.68. Ormat Technologies, Inc. has a twelve month low of $61.58 and a twelve month high of $95.36. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.64 and a current ratio of 0.70. The stock's fifty day moving average price is $87.90 and its two-hundred day moving average price is $77.15.

Ormat Technologies (NYSE:ORA - Get Free Report) last issued its earnings results on Wednesday, August 6th. The energy company reported $0.48 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.11. Ormat Technologies had a return on equity of 5.47% and a net margin of 14.49%.The firm had revenue of $234.02 million for the quarter, compared to the consensus estimate of $225.26 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The business's quarterly revenue was up 9.9% compared to the same quarter last year. On average, research analysts expect that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ORA. Harel Insurance Investments & Financial Services Ltd. boosted its position in Ormat Technologies by 273,109.4% in 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 buying an additional 955,883 shares during the last quarter. Norges Bank bought a new position in shares of Ormat Technologies in the 2nd quarter worth $56,458,000. Canada Pension Plan Investment Board boosted its position in shares of Ormat Technologies by 7,951.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 660,255 shares of the energy company's stock worth $46,726,000 after purchasing an additional 652,055 shares during the last quarter. Groupama Asset Managment bought a new position in shares of Ormat Technologies in the 2nd quarter worth $41,880,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Ormat Technologies by 19.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,890,235 shares of the energy company's stock worth $133,770,000 after purchasing an additional 303,756 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ORA has been the subject of several research analyst reports. TD Cowen boosted their price objective on Ormat Technologies from $76.00 to $85.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Barclays dropped their target price on Ormat Technologies from $90.00 to $89.00 and set an "overweight" rating for the company in a report on Friday, August 8th. JPMorgan Chase & Co. increased their target price on Ormat Technologies from $75.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Baird R W raised Ormat Technologies from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. Finally, Oppenheimer reissued an "outperform" rating and issued a $100.00 target price 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 assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.30.

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.

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