Ormat Technologies, Inc. (NYSE:ORA) Director Sells $102,992.00 in Stock

Ormat Technologies, Inc. (NYSE:ORA) Director David Granot sold 1,256 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $82.00, for a total value of $102,992.00. Following the sale, the director now directly owns 3,576 shares of the company’s stock, valued at $293,232. The trade was a 25.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Ormat Technologies Price Performance

Shares of Ormat Technologies stock opened at $79.58 on Wednesday. Ormat Technologies, Inc. has a twelve month low of $59.41 and a twelve month high of $84.30. The stock has a market capitalization of $4.81 billion, a P/E ratio of 40.60, a PEG ratio of 4.23 and a beta of 0.53. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The business’s fifty day moving average price is $79.09 and its 200 day moving average price is $75.68.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The firm had revenue of $211.80 million for the quarter, compared to analysts’ expectations of $215.53 million. During the same quarter last year, the firm earned $0.47 earnings per share. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, research analysts anticipate that Ormat Technologies, Inc. will post 1.93 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Wednesday, November 20th. Ormat Technologies’s dividend payout ratio is presently 24.49%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Roth Mkm reissued a “buy” rating and set a $92.00 target price (up from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Oppenheimer increased their target price on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ormat Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $84.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. lifted its stake in shares of Ormat Technologies by 180.3% during the third quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock worth $26,000 after purchasing an additional 229 shares in the last quarter. Harrington Investments INC lifted its stake in shares of Ormat Technologies by 3.0% during the second quarter. Harrington Investments INC now owns 7,950 shares of the energy company’s stock worth $570,000 after purchasing an additional 230 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Ormat Technologies by 1.9% during the second quarter. Arizona State Retirement System now owns 15,214 shares of the energy company’s stock worth $1,091,000 after purchasing an additional 286 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Ormat Technologies by 107.7% during the third quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock worth $47,000 after purchasing an additional 320 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Ormat Technologies by 44.0% during the third quarter. GAMMA Investing LLC now owns 1,051 shares of the energy company’s stock worth $81,000 after purchasing an additional 321 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.