Stanley Stern Sells 400 Shares of Ormat Technologies (NYSE:ORA) Stock

Key Points

• Director Stanley Stern sold 400 shares of Ormat Technologies at an average price of $95.98, which marked a 7.60% decrease in his stake in the company.
• Ormat Technologies reported a profit of $0.48 EPS for the last quarter, exceeding analysts' expectations of $0.37, and a revenue growth of 9.9% year-over-year.
• The company recently announced a quarterly dividend of $0.12, giving it an annualized yield of 0.5%, and a dividend payout ratio of 22.33%.

Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) Director Stanley Stern sold 400 shares of the business's stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $95.98, for a total transaction of $38,392.00. Following the sale, the director directly owned 4,861 shares of the company's stock, valued at approximately $466,558.78. The trade was a 7.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, September 26th, Stanley Stern sold 229 shares of Ormat Technologies stock. The shares were sold at an average price of $94.83, for a total transaction of $21,716.07.
• On Wednesday, August 27th, Stanley Stern sold 876 shares of Ormat Technologies stock. The shares were sold at an average price of $91.98, for a total transaction of $80,574.48.

Ormat Technologies Price Performance

Shares of NYSE ORA traded up $0.72 during mid-day trading on Tuesday, hitting $96.28. 519,123 shares of the company's stock traded hands, compared to its average volume of 473,625. The company's 50-day moving average is $90.97 and its two-hundred day moving average is $81.48. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.64. The company has a market capitalization of $5.85 billion, a P/E ratio of 44.78, a PEG ratio of 4.44 and a beta of 0.69. 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 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 firm had revenue of $234.02 million for the quarter, compared to analysts' expectations of $225.26 million. During the same period in the prior year, the company earned $0.37 EPS. The business's revenue was up 9.9% compared to the same quarter last year. On average, equities analysts anticipate that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently commented on ORA. Oppenheimer reiterated an "outperform" rating and set a $100.00 price objective on shares of Ormat Technologies in a research note on Friday, August 8th. Barclays lowered their price objective on shares of Ormat Technologies from $90.00 to $89.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Baird R W upgraded shares of Ormat Technologies from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Roth Capital restated a "buy" rating and set a $98.00 target price (up from $88.00) on shares of Ormat Technologies in a research report on Tuesday, August 5th. Finally, TD Cowen boosted their target price on shares of Ormat Technologies from $76.00 to $85.00 and gave the company a "hold" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Ormat Technologies presently has an average rating of "Moderate Buy" and an average target price of $94.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ORA. Osaic Holdings Inc. lifted its stake in shares of Ormat Technologies by 196.4% in the second quarter. Osaic Holdings Inc. now owns 5,287 shares of the energy company's stock valued at $443,000 after purchasing an additional 3,503 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Ormat Technologies in the second quarter valued at about $1,148,000. Tower Research Capital LLC TRC lifted its stake in shares of Ormat Technologies by 247.9% in the second quarter. Tower Research Capital LLC TRC now owns 8,180 shares of the energy company's stock valued at $685,000 after purchasing an additional 5,829 shares during the period. Firsthand Capital Management Inc. acquired a new position in Ormat Technologies during the second quarter worth about $168,000. Finally, State of Tennessee Department of Treasury raised its position in Ormat Technologies by 168.0% during the second quarter. State of Tennessee Department of Treasury now owns 28,244 shares of the energy company's stock worth $2,366,000 after acquiring an additional 17,705 shares during the last quarter. 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.

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