David Granot Sells 950 Shares of Ormat Technologies, Inc. (NYSE:ORA) Stock

Ormat Technologies, Inc. (NYSE:ORA) Director David Granot sold 950 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $73.10, for a total transaction of $69,445.00. Following the sale, the director now directly owns 2,713 shares in the company, valued at $198,320.30. The trade was a 25.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

David Granot also recently made the following trade(s):

• On Monday, March 3rd, David Granot sold 1,666 shares of Ormat Technologies stock. The stock was sold at an average price of $69.00, for a total transaction of $114,954.00.

Ormat Technologies Stock Down 0.2%

Ormat Technologies stock opened at $74.97 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. Ormat Technologies, Inc. has a 12-month low of $61.58 and a 12-month high of $84.30. The firm’s fifty day moving average is $71.44 and its 200 day moving average is $71.54. The company has a market capitalization of $4.54 billion, a PE ratio of 38.25, a PEG ratio of 3.18 and a beta of 0.65.

Ormat Technologies (NYSE:ORA) last released its earnings results on Wednesday, May 7th. The energy company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The company had revenue of $229.76 million for the quarter, compared to the consensus estimate of $228.33 million. During the same quarter in the previous year, the company earned $0.64 EPS. Ormat Technologies’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts predict that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, May 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.64%. Ormat Technologies’s payout ratio is presently 23.30%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Stuart Chaussee & Associates Inc. acquired a new position in shares of Ormat Technologies during the 4th quarter valued at $34,000. AlphaQuest LLC raised its holdings in Ormat Technologies by 4,691.7% during the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock worth $39,000 after buying an additional 563 shares during the last quarter. UMB Bank n.a. raised its holdings in Ormat Technologies by 42.6% during the first 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 last quarter. Signaturefd LLC raised its holdings in Ormat Technologies by 60.6% during the first quarter. Signaturefd LLC now owns 890 shares of the energy company’s stock worth $63,000 after buying an additional 336 shares during the last quarter. Finally, CWM LLC raised its holdings in Ormat Technologies by 294.2% during the first quarter. CWM LLC now owns 887 shares of the energy company’s stock worth $63,000 after buying an additional 662 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Wall Street Analysts Forecast Growth

ORA has been the topic of a number of research reports. Baird R W raised shares of Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. StockNews.com raised shares of Ormat Technologies from a “sell” rating to a “hold” rating in a research note on Monday, April 7th. Jefferies Financial Group upped their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, March 25th. JPMorgan Chase & Co. upped their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Finally, Robert W. Baird initiated coverage on shares of Ormat Technologies in a research note on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.29.

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.