Ormat Technologies, Inc. (NYSE:ORA) Director Dafna Sharir Sells 433 Shares

Ormat Technologies, Inc. (NYSE:ORA) Director Dafna Sharir sold 433 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total value of $32,436.03. Following the completion of the sale, the director now owns 3,561 shares of the company’s stock, valued at approximately $266,754.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ormat Technologies Stock Down 0.4 %

Shares of Ormat Technologies stock opened at $74.38 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.72. Ormat Technologies, Inc. has a 1 year low of $58.73 and a 1 year high of $78.51. The stock has a 50-day moving average price of $73.57 and a 200 day moving average price of $69.83. The company has a market cap of $4.49 billion, a P/E ratio of 33.50, a P/E/G ratio of 3.62 and a beta of 0.51.

Ormat Technologies (NYSE:ORA) last released its earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The company had revenue of $212.96 million during the quarter, compared to the consensus estimate of $214.07 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. As a group, analysts expect that Ormat Technologies, Inc. will post 2.04 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.65%. Ormat Technologies’s dividend payout ratio is currently 21.62%.

Institutional Trading of Ormat Technologies

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new stake in shares of Ormat Technologies in the 4th quarter valued at $32,000. State of New Jersey Common Pension Fund D raised its stake in shares of Ormat Technologies by 12.3% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 37,173 shares of the energy company’s stock valued at $2,817,000 after acquiring an additional 4,069 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in Ormat Technologies by 0.5% in the 4th quarter. Retirement Systems of Alabama now owns 67,276 shares of the energy company’s stock worth $5,099,000 after purchasing an additional 312 shares during the last quarter. Mission Wealth Management LP boosted its position in Ormat Technologies by 3.7% during the fourth quarter. Mission Wealth Management LP now owns 11,379 shares of the energy company’s stock worth $862,000 after purchasing an additional 408 shares during the period. Finally, Beck Bode LLC raised its position in shares of Ormat Technologies by 8.3% in the fourth quarter. Beck Bode LLC now owns 130,431 shares of the energy company’s stock valued at $9,885,000 after purchasing an additional 9,968 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on ORA. Barclays dropped their target price on shares of Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating on the stock in a report on Monday, May 13th. JPMorgan Chase & Co. upped their price target on Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Roth Mkm restated a “buy” rating and issued a $80.00 target price on shares of Ormat Technologies in a report on Monday, August 12th. UBS Group boosted their target price on Ormat Technologies from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Finally, Oppenheimer increased their price target on Ormat Technologies from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $81.67.

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.