Ormat Technologies, Inc. (NYSE:ORA) Director Dafna Sharir sold 439 shares of Ormat Technologies stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $52.00, for a total transaction of $22,828.00. Following the transaction, the director now owns 874 shares of the company’s stock, valued at $45,448. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
ORA stock opened at $52.96 on Friday. Ormat Technologies, Inc. has a 52-week low of $45.79 and a 52-week high of $70.68. The company has a market cap of $2.69 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 2.88 and a beta of 1.46. The company has a quick ratio of 1.05, a current ratio of 1.16 and a debt-to-equity ratio of 0.68.
Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Tuesday, November 6th. The energy company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.13). The firm had revenue of $166.50 million for the quarter, compared to the consensus estimate of $172.97 million. Ormat Technologies had a net margin of 17.39% and a return on equity of 8.96%. Ormat Technologies’s revenue was up 5.9% on a year-over-year basis. During the same period last year, the business earned $0.42 EPS. Sell-side analysts predict that Ormat Technologies, Inc. will post 1.7 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Investors of record on Tuesday, November 20th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Monday, November 19th. Ormat Technologies’s dividend payout ratio (DPR) is currently 13.38%.
Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $64.00 to $60.00 in a report on Thursday, August 9th. ValuEngine upgraded shares of Ormat Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. TheStreet lowered shares of Ormat Technologies from a “b-” rating to a “c+” rating in a report on Thursday, August 9th. Finally, Zacks Investment Research upgraded shares of Ormat Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Ormat Technologies presently has a consensus rating of “Hold” and an average target price of $64.80.
Several institutional investors and hedge funds have recently made changes to their positions in ORA. Principal Financial Group Inc. increased its position in shares of Ormat Technologies by 6.1% during the first quarter. Principal Financial Group Inc. now owns 16,849 shares of the energy company’s stock valued at $950,000 after acquiring an additional 976 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Ormat Technologies during the first quarter valued at approximately $182,000. Royal Bank of Canada increased its position in shares of Ormat Technologies by 103.6% during the first quarter. Royal Bank of Canada now owns 5,445 shares of the energy company’s stock valued at $307,000 after acquiring an additional 2,771 shares in the last quarter. Xact Kapitalforvaltning AB increased its position in shares of Ormat Technologies by 37.7% during the second quarter. Xact Kapitalforvaltning AB now owns 6,944 shares of the energy company’s stock valued at $369,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of Ormat Technologies by 36.6% during the second quarter. Bank of Montreal Can now owns 7,668 shares of the energy company’s stock valued at $408,000 after acquiring an additional 2,055 shares in the last quarter. 72.70% of the stock is owned by institutional investors.
Ormat Technologies Company Profile
Ormat Technologies, Inc engages in the geothermal and recovered energy power business worldwide. The company operates through Electricity and Product segments. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. This segment also offers energy storage, demand response, and energy management related services.
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