Ormat Technologies (NYSE:ORA) Insider Jessica Woelfel Sells 136 Shares of Stock

Ormat Technologies, Inc. (NYSE:ORA) insider Jessica Woelfel sold 136 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $107.79, for a total value of $14,659.44. Following the completion of the transaction, the insider owned 7,360 shares of the company’s stock, valued at $793,334.40. The trade was a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, March 3rd, Jessica Woelfel sold 2,359 shares of Ormat Technologies stock. The shares were sold at an average price of $105.16, for a total transaction of $248,072.44.
• 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 Price Performance

Shares of NYSE:ORA opened at $110.67 on Thursday. The firm has a market cap of $6.73 billion, a price-to-earnings ratio of 55.06, a P/E/G ratio of 4.64 and a beta of 0.84. The firm has a fifty day moving average price of $116.41 and a 200 day moving average price of $110.39. Ormat Technologies, Inc. has a fifty-two week low of $64.39 and a fifty-two week high of $132.58. 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 announced its quarterly earnings results on Wednesday, February 25th. The energy company reported $0.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.67. The company had revenue of $276.04 million for 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%. Ormat Technologies’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 EPS. As a group, sell-side analysts expect that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Tuesday, March 10th. Ormat Technologies’s payout ratio is currently 23.88%.

Hedge Funds Weigh In On Ormat Technologies

Large investors have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new position in Ormat Technologies during the 4th quarter valued at about $26,000. Caitong International Asset Management Co. Ltd bought a new stake in Ormat Technologies in the fourth quarter worth about $31,000. Smartleaf Asset Management LLC boosted its position in shares of Ormat Technologies by 245.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company’s stock valued at $33,000 after buying an additional 211 shares during the period. Wolff Wiese Magana LLC bought a new position in shares of Ormat Technologies during the fourth quarter valued at approximately $33,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Ormat Technologies in the fourth quarter worth approximately $32,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on ORA shares. Jefferies Financial Group downgraded Ormat Technologies from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $125.00 to $130.00 in a research note on Friday, February 13th. Robert W. Baird cut their target price on shares of Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, February 27th. Barclays upped their price target on shares of Ormat Technologies from $108.00 to $123.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. UBS Group lowered their price target on shares of Ormat Technologies from $148.00 to $143.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ormat Technologies in a research note on Thursday, January 22nd. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average 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.