Ormat Technologies, Inc. (NYSE:ORA) Director David Granot Sells 1,666 Shares

Ormat Technologies, Inc. (NYSE:ORA) Director David Granot sold 1,666 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $69.00, for a total value of $114,954.00. Following the sale, the director now owns 1,910 shares of the company’s stock, valued at $131,790. This represents a 46.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ormat Technologies Stock Up 1.1 %

NYSE ORA traded up $0.73 during mid-day trading on Tuesday, reaching $69.46. 496,333 shares of the company’s stock traded hands, compared to its average volume of 465,337. Ormat Technologies, Inc. has a 1-year low of $59.41 and a 1-year high of $84.30. The company has a fifty day simple moving average of $66.48 and a 200-day simple moving average of $73.17. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The company has a market cap of $4.20 billion, a price-to-earnings ratio of 35.44, a P/E/G ratio of 3.18 and a beta of 0.57.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Wednesday, March 12th. Ormat Technologies’s dividend payout ratio is presently 23.53%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Ormat Technologies by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company’s stock worth $409,305,000 after buying an additional 274,540 shares during the last quarter. Global Alpha Capital Management Ltd. lifted its holdings in Ormat Technologies by 6.1% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 2,446,624 shares of the energy company’s stock worth $188,125,000 after buying an additional 140,882 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in Ormat Technologies by 7.3% during the 4th quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company’s stock worth $162,586,000 after buying an additional 163,505 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Ormat Technologies by 6.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,586,479 shares of the energy company’s stock worth $107,440,000 after buying an additional 93,418 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Ormat Technologies by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 1,373,426 shares of the energy company’s stock worth $93,029,000 after buying an additional 72,135 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Jefferies Financial Group upgraded Ormat Technologies from a “hold” rating to a “buy” rating and upped their price target for the stock from $73.00 to $78.00 in a research note on Thursday, February 20th. JPMorgan Chase & Co. increased their target price on Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday. Roth Mkm reiterated a “buy” rating and issued a $92.00 target price (up previously from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Oppenheimer increased their target price on Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Piper Sandler initiated coverage on Ormat Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $78.00 target price for the company. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Ormat Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $82.88.

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.