Ormat Technologies (NYSE:ORA) Director David Granot Sells 1,753 Shares of Stock

Ormat Technologies, Inc. (NYSE:ORA) Director David Granot sold 1,753 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $132.70, for a total transaction of $232,623.10. Following the completion of the sale, the director owned 1,766 shares of the company’s stock, valued at approximately $234,348.20. This trade represents a 49.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, May 21st, David Granot sold 1,766 shares of Ormat Technologies stock. The shares were sold at an average price of $134.43, for a total value of $237,403.38.

Ormat Technologies Stock Performance

Shares of ORA opened at $133.73 on Friday. The stock has a market capitalization of $8.22 billion, a P/E ratio of 64.92, a P/E/G ratio of 5.62 and a beta of 0.80. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.07. Ormat Technologies, Inc. has a 1 year low of $70.42 and a 1 year high of $138.51. The company’s fifty day moving average is $115.48 and its two-hundred day moving average is $115.13.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.38. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The business had revenue of $403.91 million for the quarter, compared to analyst estimates of $349.17 million. During the same period in the previous year, the business posted $0.68 earnings per share. The business’s revenue was up 75.8% compared to the same quarter last year. On average, sell-side analysts predict that Ormat Technologies, Inc. will post 2.35 earnings per share for the current year.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 20th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.4%. Ormat Technologies’s payout ratio is 23.30%.

Analyst Ratings Changes

Several brokerages have recently commented on ORA. Roth Mkm reissued a “buy” rating and set a $135.00 price target on shares of Ormat Technologies in a research note on Monday, May 11th. Oppenheimer reiterated an “outperform” rating and issued a $144.00 price objective on shares of Ormat Technologies in a research report on Friday, May 8th. UBS Group raised their target price on shares of Ormat Technologies from $143.00 to $152.00 and gave the company a “buy” rating in a report on Friday, May 8th. Barclays lifted their target price on shares of Ormat Technologies from $123.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, Jefferies Financial Group downgraded shares of Ormat Technologies from a “buy” rating to a “hold” rating and upped their price target for the company from $125.00 to $130.00 in a report on Friday, February 13th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $133.18.

Institutional Investors Weigh In On Ormat Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new stake in Ormat Technologies in the 4th quarter worth approximately $26,000. Main Street Group LTD purchased a new position in shares of Ormat Technologies during the 1st quarter worth $29,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Ormat Technologies during the 4th quarter worth $31,000. Los Angeles Capital Management LLC acquired a new stake in shares of Ormat Technologies during the fourth quarter worth $32,000. Finally, Wolff Wiese Magana LLC purchased a new stake in shares of Ormat Technologies in the fourth quarter valued at $33,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Ormat Technologies Company Profile

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.