Ormat Technologies (NYSE:ORA) Insider Jessica Woelfel Sells 2,359 Shares

Ormat Technologies, Inc. (NYSE:ORA) insider Jessica Woelfel sold 2,359 shares of Ormat Technologies stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $105.16, for a total value of $248,072.44. Following the transaction, the insider directly owned 3,433 shares in the company, valued at approximately $361,014.28. This trade represents a 40.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Jessica Woelfel also recently made the following trade(s):

• On Monday, March 2nd, Jessica Woelfel sold 869 shares of Ormat Technologies stock. The stock was sold at an average price of $104.59, for a total transaction of $90,888.71.

Ormat Technologies Stock Down 0.6%

Shares of ORA stock traded down $0.68 during trading on Thursday, hitting $107.10. 99,245 shares of the company were exchanged, compared to its average volume of 687,076. The business’s 50-day simple moving average is $118.10 and its 200 day simple moving average is $108.60. Ormat Technologies, Inc. has a twelve month low of $64.39 and a twelve month high of $132.58. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 53.28, a P/E/G ratio of 4.38 and a beta of 0.84. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.75 and a current ratio of 0.81.

Ormat Technologies (NYSE:ORA) last released its earnings results on Wednesday, February 25th. The energy company reported $0.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.67. The company had revenue of $276.04 million during the quarter, compared to the consensus estimate of $257.75 million. Ormat Technologies had a net margin of 12.52% and a return on equity of 5.21%. The company’s revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.67 EPS. As a group, analysts forecast 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 Tuesday, March 24th. Investors of record on Tuesday, March 10th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.88%.

Institutional Trading of Ormat Technologies

Several large investors have recently modified their holdings of the company. Norges Bank acquired a new position in Ormat Technologies in the 4th quarter valued at $86,545,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Ormat Technologies by 155.8% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 886,526 shares of the energy company’s stock valued at $97,935,000 after acquiring an additional 540,000 shares during the period. Groupama Asset Managment acquired a new stake in shares of Ormat Technologies in the second quarter valued at about $41,880,000. Canada Pension Plan Investment Board increased its stake in shares of Ormat Technologies by 62.6% in the second quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock worth $89,928,000 after purchasing an additional 413,384 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Ormat Technologies during the 2nd quarter worth about $18,310,000. 95.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ORA shares. JPMorgan Chase & Co. lifted their price target on Ormat Technologies from $99.00 to $111.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Royal Bank Of Canada initiated coverage on shares of Ormat Technologies in a research note on Tuesday. They issued an “outperform” rating and a $130.00 target price for the company. Jefferies Financial Group downgraded shares of Ormat Technologies from a “buy” rating to a “hold” rating and boosted their target price for the stock from $125.00 to $130.00 in a research report on Friday, February 13th. Barclays raised their price target on shares of Ormat Technologies from $108.00 to $123.00 and gave the company an “overweight” rating in a report on Monday. Finally, UBS Group reduced their price objective on shares of Ormat Technologies from $148.00 to $143.00 and set a “buy” rating for the company in a research note on Tuesday. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Ormat Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.09.

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.