Dafna Sharir Sells 883 Shares of Ormat Technologies (NYSE:ORA) Stock

Ormat Technologies, Inc. (NYSE:ORA) Director Dafna Sharir sold 883 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $122.44, for a total transaction of $108,114.52. Following the completion of the sale, the director directly owned 3,140 shares of the company’s stock, valued at $384,461.60. This trade represents a 21.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ormat Technologies Stock Performance

Shares of ORA opened at $126.19 on Wednesday. The company has a market capitalization of $7.75 billion, a PE ratio of 61.26, a PEG ratio of 5.44 and a beta of 0.80. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.07. The company’s 50 day moving average price is $112.15 and its 200 day moving average price is $113.84. Ormat Technologies, Inc. has a 52 week low of $70.42 and a 52 week high of $132.58.

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, topping analysts’ consensus estimates of $0.92 by $0.38. The company had revenue of $403.91 million during the quarter, compared to the consensus estimate of $349.17 million. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The company’s revenue was up 75.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 EPS. Research analysts expect that Ormat Technologies, Inc. will post 2.27 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors 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 dividend yield of 0.4%. The ex-dividend date is Wednesday, May 20th. Ormat Technologies’s dividend payout ratio (DPR) is currently 23.30%.

Institutional Investors Weigh In On Ormat Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd acquired a new position in Ormat Technologies during the fourth quarter valued at approximately $26,000. Main Street Group LTD bought a new position in shares of Ormat Technologies in the first quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Ormat Technologies in the fourth quarter worth $31,000. Los Angeles Capital Management LLC acquired a new stake in shares of Ormat Technologies in the fourth quarter worth $32,000. Finally, Wolff Wiese Magana LLC bought a new stake in shares of Ormat Technologies during the 4th quarter worth $33,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ORA shares. TD Cowen lowered their target price on Ormat Technologies from $131.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Barclays lifted their price target on Ormat Technologies from $123.00 to $126.00 and gave the company an “overweight” rating in a report on Friday. Robert W. Baird lowered their price target on Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating for the company in a research note on Friday, February 27th. Roth Mkm restated a “buy” rating and issued a $135.00 price objective on shares of Ormat Technologies in a report on Monday. Finally, UBS Group raised their price objective on shares of Ormat Technologies from $143.00 to $152.00 and gave the company a “buy” rating in a research report on Friday. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $131.64.

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.