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

Ormat Technologies, Inc. (NYSE:ORA) Director David Granot sold 1,753 shares of the company’s stock in a transaction dated 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 transaction, the director owned 1,766 shares in the company, valued at approximately $234,348.20. This trade represents a 49.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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 transaction of $237,403.38.

Ormat Technologies Price Performance

NYSE:ORA opened at $133.28 on Friday. The firm has a market cap of $8.19 billion, a price-to-earnings ratio of 64.70, a price-to-earnings-growth ratio of 5.71 and a beta of 0.80. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.87. The company’s 50-day moving average is $115.98 and its two-hundred day moving average is $115.26. Ormat Technologies, Inc. has a 12-month low of $70.60 and a 12-month high of $138.51.

Ormat Technologies (NYSE:ORA) last released its earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.38. The company had revenue of $403.91 million for the quarter, compared to analyst estimates of $349.17 million. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The firm’s quarterly revenue was up 75.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 EPS. Research analysts expect that Ormat Technologies, Inc. will post 2.35 EPS for the current year.

Ormat Technologies Dividend Announcement

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

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ORA shares. Royal Bank Of Canada started coverage on shares of Ormat Technologies in a report on Tuesday, March 3rd. They issued an “outperform” rating and a $130.00 target price on the stock. Jefferies Financial Group lowered shares of Ormat Technologies from a “buy” rating to a “hold” rating and upped their target price for the company from $125.00 to $130.00 in a report on Friday, February 13th. TD Cowen cut their price objective on shares of Ormat Technologies from $131.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 27th. JPMorgan Chase & Co. increased their price objective on shares of Ormat Technologies from $106.00 to $123.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, UBS Group increased their price objective on shares of Ormat Technologies from $143.00 to $152.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $133.18.

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.