Dafna Sharir Sells 883 Shares of Ormat Technologies (NYSE:ORA) Stock

Ormat Technologies, Inc. (NYSE:ORA) Director Dafna Sharir sold 883 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $122.44, for a total transaction of $108,114.52. Following the completion of the sale, the director directly owned 3,140 shares of the company’s stock, valued at $384,461.60. This trade represents a 21.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ormat Technologies Stock Up 1.7%

NYSE:ORA traded up $2.03 during trading hours on Monday, hitting $123.70. The stock had a trading volume of 1,232,485 shares, compared to its average volume of 821,299. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.87. Ormat Technologies, Inc. has a 1-year low of $70.42 and a 1-year high of $132.58. The business has a 50 day simple moving average of $111.26 and a two-hundred day simple moving average of $113.47. The company has a market cap of $7.60 billion, a PE ratio of 60.05, a price-to-earnings-growth ratio of 5.33 and a beta of 0.80.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.38. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The company had revenue of $403.91 million during the quarter, compared to the consensus estimate of $349.17 million. During the same quarter last year, the company earned $0.68 earnings per share. Ormat Technologies’s revenue for the quarter was up 75.8% on a year-over-year basis. Analysts predict that Ormat Technologies, Inc. will post 2.28 EPS for the current year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $0.48 annualized dividend and a yield of 0.4%. Ormat Technologies’s dividend payout ratio (DPR) is 23.30%.

Institutional Trading of Ormat Technologies

Hedge funds have recently made changes to their positions in the stock. RWC Asset Management LLP lifted its stake in Ormat Technologies by 8.8% during the third quarter. RWC Asset Management LLP now owns 136,101 shares of the energy company’s stock worth $13,100,000 after purchasing an additional 11,063 shares during the last quarter. AGF Management Ltd. bought a new position in Ormat Technologies during the third quarter worth $9,527,000. Retirement Systems of Alabama lifted its stake in Ormat Technologies by 169.7% during the third quarter. Retirement Systems of Alabama now owns 189,988 shares of the energy company’s stock worth $18,286,000 after purchasing an additional 119,552 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Ormat Technologies by 155.8% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 886,526 shares of the energy company’s stock worth $97,935,000 after purchasing an additional 540,000 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new position in Ormat Technologies during the third quarter worth $14,005,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Wall Street Analysts Forecast Growth

ORA has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Ormat Technologies from $106.00 to $123.00 and gave the company a “neutral” rating in a research report on Friday. TD Cowen decreased their price target on shares of Ormat Technologies from $131.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Ormat Technologies in a research report on Tuesday, April 21st. Jefferies Financial Group downgraded shares of Ormat Technologies from a “buy” rating to a “hold” rating and raised their price target for the stock from $125.00 to $130.00 in a research report on Friday, February 13th. Finally, Roth Mkm reissued a “buy” rating and set a $135.00 price target on shares of Ormat Technologies in a research report on Monday. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.64.

About Ormat Technologies

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.