Stanley Stern Sells 577 Shares of Ormat Technologies (NYSE:ORA) Stock

Ormat Technologies, Inc. (NYSE:ORA) Director Stanley Stern sold 577 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $130.17, for a total value of $75,108.09. Following the sale, the director owned 6,050 shares in the company, valued at approximately $787,528.50. This represents a 8.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Ormat Technologies Price Performance

Shares of ORA traded down $3.93 during midday trading on Friday, hitting $131.52. 1,551,006 shares of the company traded hands, compared to its average volume of 867,439. The stock has a 50-day moving average of $113.25 and a 200-day moving average of $114.25. Ormat Technologies, Inc. has a one year low of $70.42 and a one year high of $138.51. The firm has a market cap of $8.08 billion, a P/E ratio of 63.84, a PEG ratio of 5.72 and a beta of 0.80. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.07 and a quick ratio of 1.02.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.38. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.97%.The firm had revenue of $403.91 million for the quarter, compared to analysts’ expectations of $349.17 million. During the same period in the prior year, the business posted $0.68 earnings per share. The company’s revenue was up 75.8% on a year-over-year basis. As a group, sell-side analysts predict that Ormat Technologies, Inc. will post 2.33 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Signaturefd LLC increased its position in shares of Ormat Technologies by 13.0% in the fourth quarter. Signaturefd LLC now owns 746 shares of the energy company’s stock worth $82,000 after purchasing an additional 86 shares during the last quarter. Quadrant Capital Group LLC grew its position in Ormat Technologies by 9.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,153 shares of the energy company’s stock valued at $127,000 after acquiring an additional 99 shares during the last quarter. Jones Financial Companies Lllp grew its position in Ormat Technologies by 43.8% during the third quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock valued at $35,000 after acquiring an additional 113 shares during the last quarter. State of Wyoming grew its position in Ormat Technologies by 6.7% during the fourth quarter. State of Wyoming now owns 2,091 shares of the energy company’s stock valued at $231,000 after acquiring an additional 131 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Ormat Technologies by 7.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,167 shares of the energy company’s stock valued at $239,000 after acquiring an additional 144 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ORA has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Ormat Technologies in a research report on Tuesday, April 21st. Oppenheimer restated an “outperform” rating and issued a $144.00 price objective on shares of Ormat Technologies in a research report on Friday, May 8th. Barclays upped their price objective 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. Jefferies Financial Group cut shares of Ormat Technologies from a “buy” rating to a “hold” rating and upped their price objective for the stock from $125.00 to $130.00 in a research report on Friday, February 13th. Finally, Robert W. Baird decreased their price objective on shares of Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock 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.