Ormat Technologies (NYSE:ORA) CFO Sells $2,395,316.00 in Stock

Ormat Technologies, Inc. (NYSE:ORA) CFO Assi Ginzburg sold 17,776 shares of Ormat Technologies stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $134.75, for a total transaction of $2,395,316.00. Following the sale, the chief financial officer owned 1,970 shares of the company’s stock, valued at approximately $265,457.50. The trade was a 90.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Ormat Technologies Price Performance

ORA stock opened at $131.52 on Monday. The firm has a 50 day moving average of $113.73 and a 200-day moving average of $114.42. Ormat Technologies, Inc. has a 12-month low of $70.42 and a 12-month high of $138.51. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.87. The company has a market cap of $8.08 billion, a price-to-earnings ratio of 63.84, a PEG ratio of 5.63 and a beta of 0.80.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.38. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The company had revenue of $403.91 million during the quarter, compared to the consensus estimate of $349.17 million. During the same period last year, the firm earned $0.68 EPS. The company’s revenue for the quarter was up 75.8% on a year-over-year basis. As a group, equities analysts expect that Ormat Technologies, Inc. will post 2.33 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Oppenheimer reissued an “outperform” rating and set a $144.00 price objective on shares of Ormat Technologies in a research note on Friday, May 8th. Roth Mkm reissued a “buy” rating and set a $135.00 price objective on shares of Ormat Technologies in a research note on Monday, May 11th. Jefferies Financial Group cut shares of Ormat Technologies from a “buy” rating to a “hold” rating and raised their price objective for the stock from $125.00 to $130.00 in a research note on Friday, February 13th. Barclays raised their price objective on shares of Ormat Technologies from $123.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, UBS Group raised their price objective on shares of Ormat Technologies from $143.00 to $152.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.64.

Institutional Trading of Ormat Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC grew its stake in Ormat Technologies by 13.0% in the 4th quarter. Signaturefd LLC now owns 746 shares of the energy company’s stock worth $82,000 after acquiring an additional 86 shares during the period. Quadrant Capital Group LLC grew its stake in Ormat Technologies by 9.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,153 shares of the energy company’s stock worth $127,000 after acquiring an additional 99 shares during the period. Jones Financial Companies Lllp grew its stake in Ormat Technologies by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock worth $35,000 after acquiring an additional 113 shares during the period. State of Wyoming grew its stake in Ormat Technologies by 6.7% in the 4th quarter. State of Wyoming now owns 2,091 shares of the energy company’s stock worth $231,000 after acquiring an additional 131 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in Ormat Technologies by 7.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,167 shares of the energy company’s stock worth $239,000 after acquiring an additional 144 shares during the period. 95.49% of the stock is owned by hedge funds and other institutional investors.

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.