Insider Selling: Ormat Technologies, Inc. (NYSE:ORA) Director Sells 1,825 Shares of Stock

Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) Director Stanley Stern sold 1,825 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $66.95, for a total value of $122,183.75. Following the sale, the director now owns 4,835 shares in the company, valued at $323,703.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Ormat Technologies Trading Down 1.6 %

Shares of ORA stock traded down $1.07 during trading hours on Monday, reaching $65.12. The company had a trading volume of 346,994 shares, compared to its average volume of 456,126. The company has a 50 day moving average of $65.57 and a 200 day moving average of $67.84. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.20 and a quick ratio of 1.12. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 31.16, a P/E/G ratio of 1.40 and a beta of 0.48. Ormat Technologies, Inc. has a 1-year low of $58.73 and a 1-year high of $88.64.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.07. The company had revenue of $241.30 million for the quarter, compared to the consensus estimate of $239.71 million. Ormat Technologies had a return on equity of 5.09% and a net margin of 15.00%. The firm's quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.73 EPS. On average, equities research analysts anticipate that Ormat Technologies, Inc. will post 2.3 EPS for the current year.

Ormat Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.74%. The ex-dividend date was Tuesday, March 5th. Ormat Technologies's payout ratio is presently 22.97%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ORA shares. TD Cowen reduced their price objective on Ormat Technologies from $74.00 to $70.00 and set a "market perform" rating on the stock in a report on Friday, February 23rd. Oppenheimer reduced their price objective on Ormat Technologies from $84.00 to $83.00 and set an "outperform" rating on the stock in a report on Friday, January 19th. Finally, Barclays reduced their price objective on Ormat Technologies from $82.00 to $75.00 and set an "equal weight" rating on the stock in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Ormat Technologies presently has a consensus rating of "Hold" and an average price target of $81.00.

Institutional Trading of Ormat Technologies

Several hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its stake in Ormat Technologies by 50.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company's stock worth $117,000 after buying an additional 514 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Ormat Technologies by 1.0% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 124,981 shares of the energy company's stock worth $9,472,000 after buying an additional 1,192 shares during the period. Vanguard Group Inc. raised its stake in Ormat Technologies by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 5,324,628 shares of the energy company's stock worth $403,554,000 after buying an additional 39,172 shares during the period. Wellington Management Group LLP raised its stake in Ormat Technologies by 3.5% during the 4th quarter. Wellington Management Group LLP now owns 1,041,169 shares of the energy company's stock worth $78,910,000 after buying an additional 35,665 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Ormat Technologies by 50.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 402,311 shares of the energy company's stock worth $30,492,000 after purchasing an additional 135,581 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company's stock.

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.