Insider Selling: Ormat Technologies, Inc. (NYSE:ORA) Insider Sells 167 Shares of Stock

Ormat Technologies, Inc. (NYSE:ORA) insider Jessica Woelfel sold 167 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $71.64, for a total value of $11,963.88. Following the completion of the transaction, the insider now directly owns 6,490 shares of the company’s stock, valued at approximately $464,943.60. The trade was a 2.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Tuesday, March 18th, Jessica Woelfel sold 409 shares of Ormat Technologies stock. The stock was sold at an average price of $72.15, for a total value of $29,509.35.

Ormat Technologies Stock Up 0.1 %

ORA traded up $0.09 during trading on Tuesday, hitting $71.24. 502,444 shares of the company’s stock traded hands, compared to its average volume of 471,287. The company’s 50 day simple moving average is $67.42 and its two-hundred day simple moving average is $72.90. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 36.35, a PEG ratio of 3.18 and a beta of 0.51. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. Ormat Technologies, Inc. has a 12-month low of $59.41 and a 12-month high of $84.30.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.67%. Ormat Technologies’s dividend payout ratio (DPR) is 23.53%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ORA. Vanguard Group Inc. increased its position in Ormat Technologies by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company’s stock valued at $409,305,000 after purchasing an additional 274,540 shares during the period. Impax Asset Management Group plc increased its holdings in shares of Ormat Technologies by 7.3% in the fourth quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company’s stock valued at $162,586,000 after purchasing an additional 163,505 shares during the period. Dimensional Fund Advisors LP grew its position in Ormat Technologies by 6.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,586,479 shares of the energy company’s stock worth $107,440,000 after purchasing an additional 93,418 shares during the period. Geode Capital Management LLC increased its holdings in Ormat Technologies by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 1,373,426 shares of the energy company’s stock valued at $93,029,000 after buying an additional 72,135 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Ormat Technologies in the fourth quarter valued at about $62,851,000. Institutional investors own 95.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Piper Sandler initiated coverage on shares of Ormat Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $78.00 target price for the company. Robert W. Baird started coverage on Ormat Technologies in a research note on Thursday, March 13th. They issued a “neutral” rating and a $81.00 target price for the company. Baird R W raised Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. Jefferies Financial Group lifted their target price on Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Ormat Technologies has a consensus rating of “Hold” and a consensus target price of $83.56.

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.