Ormat Technologies (NYSE:ORA) Director Sells $21,716.07 in Stock

Key Points

• Ormat Technologies Director Stanley Stern sold 229 shares of stock for $21,716.07 at an average price of $94.83, reducing his position by 4.17% to 5,261 shares.
• The company recently reported a quarterly EPS of $0.48, exceeding analysts' expectations of $0.37, and experienced a 9.9% year-over-year revenue increase to $234.02 million.
• Ormat Technologies declared a quarterly dividend of $0.12 per share, with a payout ratio of 22.33%, representing an annualized yield of 0.5%.

Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) Director Stanley Stern sold 229 shares of the company's stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $94.83, for a total value of $21,716.07. Following the completion of the sale, the director owned 5,261 shares in the company, valued at approximately $498,900.63. This represents a 4.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Stanley Stern also recently made the following trade(s):

• On Tuesday, September 30th, Stanley Stern sold 400 shares of Ormat Technologies stock. The stock was sold at an average price of $95.98, for a total value of $38,392.00.
• On Wednesday, August 27th, Stanley Stern sold 876 shares of Ormat Technologies stock. The stock was sold at an average price of $91.98, for a total value of $80,574.48.

Ormat Technologies Price Performance

NYSE:ORA traded up $0.72 during trading hours on Tuesday, reaching $96.28. 519,123 shares of the company traded hands, compared to its average volume of 473,625. The firm's 50-day moving average is $90.97 and its 200-day moving average is $81.48. The stock has a market cap of $5.85 billion, a P/E ratio of 44.78, a P/E/G ratio of 4.44 and a beta of 0.69. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.64. Ormat Technologies, Inc. has a 1-year low of $61.58 and a 1-year high of $96.92.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced 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. The firm had revenue of $234.02 million for the quarter, compared to analysts' expectations of $225.26 million. Ormat Technologies had a return on equity of 5.47% and a net margin of 14.49%.Ormat Technologies's quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 EPS. Equities research analysts expect that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

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

Analysts Set New Price Targets

ORA has been the topic of several analyst reports. Cowen restated a "hold" rating on shares of Ormat Technologies in a report on Friday, August 8th. TD Cowen raised their price objective on Ormat Technologies from $76.00 to $85.00 and gave the stock a "hold" rating in a report on Friday, August 8th. Robert W. Baird upgraded Ormat Technologies from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $87.00 to $103.00 in a report on Wednesday, July 30th. Barclays decreased their price objective on Ormat Technologies from $90.00 to $89.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Finally, UBS Group raised their price objective on Ormat Technologies from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Ormat Technologies currently has an average rating of "Moderate Buy" and an average price target of $94.50.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ORA. Harel Insurance Investments & Financial Services Ltd. raised its position in Ormat Technologies by 273,109.4% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 956,233 shares of the energy company's stock valued at $67,673,000 after purchasing an additional 955,883 shares during the period. Norges Bank purchased a new position in Ormat Technologies in the second quarter valued at about $56,458,000. Canada Pension Plan Investment Board grew its stake in shares of Ormat Technologies by 7,951.9% during the first quarter. Canada Pension Plan Investment Board now owns 660,255 shares of the energy company's stock valued at $46,726,000 after acquiring an additional 652,055 shares in the last quarter. Groupama Asset Managment acquired a new stake in shares of Ormat Technologies during the second quarter valued at about $41,880,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Ormat Technologies by 19.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,890,235 shares of the energy company's stock valued at $133,770,000 after acquiring an additional 303,756 shares in the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

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.

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