Jessica Woelfel Sells 2,359 Shares of Ormat Technologies (NYSE:ORA) Stock

Ormat Technologies, Inc. (NYSE:ORA) insider Jessica Woelfel sold 2,359 shares of Ormat Technologies stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $105.16, for a total value of $248,072.44. Following the transaction, the insider directly owned 3,433 shares in the company, valued at approximately $361,014.28. This trade represents a 40.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, March 2nd, Jessica Woelfel sold 869 shares of Ormat Technologies stock. The stock was sold at an average price of $104.59, for a total transaction of $90,888.71.

Ormat Technologies Stock Up 0.1%

ORA stock opened at $107.88 on Friday. The company has a market cap of $6.56 billion, a price-to-earnings ratio of 53.67, a price-to-earnings-growth ratio of 4.45 and a beta of 0.84. The company has a fifty day moving average price of $117.97 and a 200 day moving average price of $108.59. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.81 and a quick ratio of 0.75. Ormat Technologies, Inc. has a 12 month low of $64.39 and a 12 month high of $132.58.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Wednesday, February 25th. The energy company reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. Ormat Technologies had a net margin of 12.52% and a return on equity of 5.21%. The company had revenue of $276.04 million for the quarter, compared to the consensus estimate of $257.75 million. During the same period last year, the firm posted $0.67 EPS. Ormat Technologies’s revenue for the quarter was up 19.6% on a year-over-year basis. Sell-side analysts expect that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.48 annualized dividend and a yield of 0.4%. Ormat Technologies’s dividend payout ratio is currently 23.88%.

Institutional Investors Weigh In On Ormat Technologies

Several institutional investors have recently modified their holdings of ORA. Norges Bank purchased a new position in Ormat Technologies in the 4th quarter valued at approximately $86,545,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Ormat Technologies by 155.8% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 886,526 shares of the energy company’s stock valued at $97,935,000 after purchasing an additional 540,000 shares during the last quarter. Groupama Asset Managment purchased a new position in shares of Ormat Technologies in the second quarter valued at $41,880,000. Canada Pension Plan Investment Board increased its position in shares of Ormat Technologies by 62.6% in the second quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock valued at $89,928,000 after buying an additional 413,384 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Ormat Technologies during the 2nd quarter worth $18,310,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ORA. Jefferies Financial Group cut Ormat Technologies from a “buy” rating to a “hold” rating and upped their price target for the stock from $125.00 to $130.00 in a research note on Friday, February 13th. Roth Mkm set a $139.00 price objective on shares of Ormat Technologies in a research report on Wednesday, January 28th. TD Cowen reduced their target price on shares of Ormat Technologies from $131.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Citigroup boosted their price target on shares of Ormat Technologies from $110.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Finally, Oppenheimer increased their price target on shares of Ormat Technologies from $125.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, January 27th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Ormat Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $129.09.

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.