Ormat Technologies (NYSE:ORA) CFO Assi Ginzburg Sells 17,776 Shares

Ormat Technologies, Inc. (NYSE:ORA) CFO Assi Ginzburg sold 17,776 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $134.75, for a total transaction of $2,395,316.00. Following the completion of the sale, the chief financial officer owned 1,970 shares in the company, valued at $265,457.50. The trade was a 90.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Ormat Technologies Price Performance

Shares of ORA opened at $131.52 on Friday. Ormat Technologies, Inc. has a twelve month low of $70.42 and a twelve month high of $138.51. The firm’s fifty day simple moving average is $113.73 and its 200-day simple moving average is $114.37. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 63.84, a PEG ratio of 5.80 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.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.38. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The business had revenue of $403.91 million for the quarter, compared to analyst estimates of $349.17 million. During the same period last year, the business earned $0.68 EPS. The company’s revenue was up 75.8% on a year-over-year basis. Equities analysts forecast that Ormat Technologies, Inc. will post 2.33 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 20th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.4%. The ex-dividend date is Wednesday, May 20th. Ormat Technologies’s dividend payout ratio (DPR) is currently 23.30%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ORA. Robert W. Baird cut their price target on shares of Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Oppenheimer reiterated an “outperform” rating and set a $144.00 price target on shares of Ormat Technologies in a research note on Friday, May 8th. JPMorgan Chase & Co. lifted their price target on shares of Ormat Technologies from $106.00 to $123.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Citigroup lifted their price target on shares of Ormat Technologies from $110.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Finally, Jefferies Financial Group lowered shares of Ormat Technologies from a “buy” rating to a “hold” rating and lifted their price target for the stock from $125.00 to $130.00 in a research note on Friday, February 13th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Ormat Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $131.64.

Institutional Trading of Ormat Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in ORA. Aster Capital Management DIFC Ltd purchased a new stake in shares of Ormat Technologies in the fourth quarter valued at about $26,000. Main Street Group LTD purchased a new stake in shares of Ormat Technologies in the first quarter valued at about $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Ormat Technologies in the fourth quarter valued at about $31,000. Los Angeles Capital Management LLC purchased a new stake in shares of Ormat Technologies in the fourth quarter valued at about $32,000. Finally, Wolff Wiese Magana LLC purchased a new stake in shares of Ormat Technologies in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

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.