Ormat Technologies (NYSE:ORA) Director Sells $403,387.60 in Stock

Ormat Technologies, Inc. (NYSE:ORA) Director Michal Marom sold 3,080 shares of Ormat Technologies stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $130.97, for a total transaction of $403,387.60. Following the transaction, the director directly owned 1,766 shares in the company, valued at $231,293.02. The trade was a 63.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Ormat Technologies Trading Up 1.5%

Ormat Technologies stock traded up $1.95 during midday trading on Thursday, hitting $133.73. 543,646 shares of the stock were exchanged, compared to its average volume of 1,073,189. The company has a fifty day simple moving average of $115.48 and a two-hundred day simple moving average of $115.13. Ormat Technologies, Inc. has a 52 week low of $70.42 and a 52 week high of $138.51. The stock has a market capitalization of $8.22 billion, a PE ratio of 64.92, a P/E/G ratio of 5.62 and a beta of 0.80. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.87.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.30 earnings per share for the quarter, topping the consensus estimate 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 quarter last year, the firm earned $0.68 EPS. Ormat Technologies’s quarterly revenue was up 75.8% compared to the same quarter last year. Equities research analysts anticipate that Ormat Technologies, Inc. will post 2.35 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The business 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 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 23.30%.

Institutional Trading of Ormat Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in ORA. AQR Capital Management LLC raised its holdings in shares of Ormat Technologies by 324.1% in the first quarter. AQR Capital Management LLC now owns 24,918 shares of the energy company’s stock valued at $1,740,000 after purchasing an additional 19,043 shares during the last quarter. United Services Automobile Association acquired a new stake in shares of Ormat Technologies in the first quarter valued at approximately $243,000. Empowered Funds LLC raised its holdings in shares of Ormat Technologies by 7.3% in the first quarter. Empowered Funds LLC now owns 4,201 shares of the energy company’s stock valued at $297,000 after purchasing an additional 286 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Ormat Technologies by 22.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 234,467 shares of the energy company’s stock valued at $16,593,000 after purchasing an additional 43,483 shares during the last quarter. Finally, Intech Investment Management LLC raised its holdings in shares of Ormat Technologies by 10.5% in the first quarter. Intech Investment Management LLC now owns 24,592 shares of the energy company’s stock valued at $1,740,000 after purchasing an additional 2,329 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on ORA shares. Weiss Ratings restated a “hold (c)” rating on shares of Ormat Technologies in a report on Tuesday, April 21st. Barclays raised their target price on shares of Ormat Technologies from $123.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. JPMorgan Chase & Co. raised their target price 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. Jefferies Financial Group downgraded shares of Ormat Technologies from a “buy” rating to a “hold” rating and raised their target price for the stock from $125.00 to $130.00 in a report on Friday, February 13th. Finally, Roth Mkm restated a “buy” rating and set a $135.00 target price on shares of Ormat Technologies in a report on Monday, May 11th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Ormat Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.18.

Ormat Technologies Company Profile

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.