Ormat Technologies, Inc. (NYSE:ORA) Insider Sells $29,509.35 in Stock

Ormat Technologies, Inc. (NYSE:ORA) insider Jessica Woelfel sold 409 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total value of $29,509.35. Following the completion of the transaction, the insider now directly owns 6,094 shares in the company, valued at $439,682.10. This represents a 6.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Ormat Technologies Stock Up 0.5 %

Ormat Technologies stock traded up $0.33 during trading hours on Thursday, hitting $72.09. The company had a trading volume of 388,600 shares, compared to its average volume of 468,353. Ormat Technologies, Inc. has a fifty-two week low of $59.41 and a fifty-two week high of $84.30. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. The firm has a market capitalization of $4.36 billion, a P/E ratio of 36.78, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51. The firm’s fifty day moving average is $67.11 and its 200-day moving average is $72.94.

Ormat Technologies Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ORA. Piper Sandler started coverage on Ormat Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $78.00 target price on the stock. Baird R W raised Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. Jefferies Financial Group upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating and raised their target price for the stock from $73.00 to $78.00 in a report on Thursday, February 20th. JPMorgan Chase & Co. lifted their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Finally, Robert W. Baird started coverage on shares of Ormat Technologies in a research note on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price objective for the company. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $82.67.

Institutional Trading of Ormat Technologies

Institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in Ormat Technologies by 5.6% in the 4th quarter. Principal Financial Group Inc. now owns 131,906 shares of the energy company’s stock worth $8,933,000 after purchasing an additional 7,025 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Ormat Technologies by 6.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 618,937 shares of the energy company’s stock valued at $41,914,000 after buying an additional 39,689 shares in the last quarter. RWC Asset Management LLP increased its holdings in Ormat Technologies by 348.9% in the fourth quarter. RWC Asset Management LLP now owns 165,599 shares of the energy company’s stock worth $11,214,000 after buying an additional 128,705 shares during the last quarter. Empowered Funds LLC bought a new position in Ormat Technologies during the fourth quarter valued at approximately $265,000. Finally, Natural Investments LLC acquired a new stake in Ormat Technologies in the fourth quarter valued at approximately $1,346,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Company Profile

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.