Insider Selling: Ormat Technologies, Inc. (NYSE:ORA) Director Sells $69,445.00 in Stock

Ormat Technologies, Inc. (NYSE:ORA) Director David Granot sold 950 shares of the firm’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 owns 2,713 shares of the company’s stock, valued at $198,320.30. This trade represents a 25.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $69.00, for a total value of $114,954.00.

Ormat Technologies Trading Down 0.2%

ORA opened at $74.97 on Friday. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of 38.25, a P/E/G ratio of 3.18 and a beta of 0.65. 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 twelve month low of $61.58 and a twelve month high of $84.30. The company has a 50-day simple moving average of $71.44 and a 200 day simple moving average of $71.48.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Wednesday, May 7th. The energy company reported $0.68 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $228.33 million. During the same period in the previous year, the company earned $0.64 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. Analysts predict that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Jefferies Financial Group lifted their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, March 25th. StockNews.com raised shares of Ormat Technologies from a “sell” rating to a “hold” rating in a report on Monday, April 7th. Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. Finally, Barclays lifted their price target on shares of Ormat Technologies from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, May 8th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $83.29.

Institutional Investors Weigh In On Ormat Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Inspire Investing LLC raised its holdings in shares of Ormat Technologies by 11.0% during the 4th quarter. Inspire Investing LLC now owns 5,914 shares of the energy company’s stock worth $400,000 after buying an additional 586 shares in the last quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management boosted its stake in Ormat Technologies by 57.3% in the fourth quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 223,937 shares of the energy company’s stock valued at $15,165,000 after buying an additional 81,547 shares in the last quarter. Pacer Advisors Inc. grew its position in Ormat Technologies by 2.0% in the fourth quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company’s stock valued at $544,000 after acquiring an additional 160 shares during the last quarter. Perigon Wealth Management LLC raised its stake in Ormat Technologies by 16.4% during the fourth quarter. Perigon Wealth Management LLC now owns 3,162 shares of the energy company’s stock worth $214,000 after acquiring an additional 446 shares in the last quarter. Finally, Caprock Group LLC raised its stake in Ormat Technologies by 4.0% during the fourth quarter. Caprock Group LLC now owns 6,080 shares of the energy company’s stock worth $412,000 after acquiring an additional 235 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors.

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.