Ormat Technologies (NYSE:ORA) CFO Sells $871,795.33 in Stock

Key Points

• Ormat Technologies CFO Assi Ginzburg sold 9,343 shares of company stock for a total of $871,795.33, representing a 27.62% decrease in his ownership stake.
• The company reported a quarterly earnings of $0.48 EPS, surpassing analysts' estimates and revealing a year-over-year revenue increase of 9.9% to $234.02 million.
• Ormat Technologies recently announced a quarterly dividend of $0.12 per share, which translates to an annualized yield of 0.5% and a payout ratio of 22.33%.

Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) CFO Assi Ginzburg sold 9,343 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $93.31, for a total transaction of $871,795.33. Following the completion of the transaction, the chief financial officer owned 24,482 shares of the company's stock, valued at $2,284,415.42. This trade represents a 27.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Assi Ginzburg also recently made the following trade(s):

• On Friday, August 22nd, Assi Ginzburg sold 7,066 shares of Ormat Technologies stock. The shares were sold at an average price of $94.71, for a total transaction of $669,220.86.

Ormat Technologies Price Performance

Ormat Technologies stock traded up $0.99 during mid-day trading on Tuesday, hitting $93.66. 161,631 shares of the company traded hands, compared to its average volume of 513,786. Ormat Technologies, Inc. has a one year low of $61.58 and a one year high of $95.36. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 43.55, a price-to-earnings-growth ratio of 4.30 and a beta of 0.69. 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 has a fifty day moving average price of $90.28 and a 200-day moving average price of $80.60.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its earnings results on Wednesday, August 6th. The energy company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.11. Ormat Technologies had a net margin of 14.49% and a return on equity of 5.47%. The business 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 posted $0.37 earnings per share. Ormat Technologies's revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities analysts predict that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, August 20th. This represents a $0.48 annualized dividend and a yield of 0.5%. Ormat Technologies's payout ratio is presently 22.33%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Barclays dropped their target price on shares of Ormat Technologies from $90.00 to $89.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Cowen reiterated a "hold" rating on shares of Ormat Technologies in a research report on Friday, August 8th. UBS Group lifted their price target on shares of Ormat Technologies from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. TD Cowen lifted their price target on shares of Ormat Technologies from $76.00 to $85.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. Finally, Roth Capital reissued a "buy" rating and set a $98.00 price target (up from $88.00) on shares of Ormat Technologies in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $94.50.

Institutional Trading of Ormat Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of ORA. Curio Wealth LLC grew its position in shares of Ormat Technologies by 29,200.0% in the 2nd quarter. Curio Wealth LLC now owns 293 shares of the energy company's stock worth $25,000 after buying an additional 292 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Ormat Technologies by 251.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company's stock worth $44,000 after buying an additional 374 shares during the period. UMB Bank n.a. grew its position in shares of Ormat Technologies by 42.6% in the 1st quarter. UMB Bank n.a. now owns 880 shares of the energy company's stock worth $62,000 after buying an additional 263 shares during the period. Signaturefd LLC grew its position in shares of Ormat Technologies by 60.6% in the 1st quarter. Signaturefd LLC now owns 890 shares of the energy company's stock worth $63,000 after buying an additional 336 shares during the period. Finally, CWM LLC grew its position in shares of Ormat Technologies by 294.2% in the 1st quarter. CWM LLC now owns 887 shares of the energy company's stock worth $63,000 after buying an additional 662 shares during the period. 95.49% of the stock is owned by hedge funds and other institutional investors.

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.