Insider Selling: Ormat Technologies, Inc. (NYSE:ORA) Director Sells 25,144 Shares of Stock

Ormat Technologies, Inc. (NYSE:ORA) Director Isaac Angel sold 25,144 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $75.60, for a total transaction of $1,900,886.40. Following the transaction, the director now owns 41,933 shares of the company’s stock, valued at $3,170,134.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Isaac Angel also recently made the following trade(s):

• On Tuesday, September 5th, Isaac Angel sold 26,144 shares of Ormat Technologies stock. The shares were sold at an average price of $75.50, for a total transaction of $1,973,872.00.

Ormat Technologies Stock Up 1.3 %

Shares of ORA opened at $75.48 on Friday. Ormat Technologies, Inc. has a 12 month low of $74.09 and a 12 month high of $101.81. The firm’s 50 day moving average is $78.97 and its 200-day moving average is $82.82. The stock has a market capitalization of $4.55 billion, a PE ratio of 48.70, a P/E/G ratio of 1.52 and a beta of 0.45. The company has a current ratio of 1.79, a quick ratio of 1.69 and a debt-to-equity ratio of 0.67.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Wednesday, August 2nd. The energy company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. Ormat Technologies had a net margin of 11.74% and a return on equity of 5.17%. The company had revenue of $194.80 million for the quarter, compared to analysts’ expectations of $196.74 million. During the same period last year, the firm earned $0.22 earnings per share. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. Equities research analysts forecast that Ormat Technologies, Inc. will post 2.14 EPS for the current year.

Ormat Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 30th. Investors of record on Wednesday, August 16th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 15th. This represents a $0.48 annualized dividend and a dividend yield of 0.64%. Ormat Technologies’s dividend payout ratio is 30.97%.

Institutional Trading of Ormat Technologies

Several large investors have recently made changes to their positions in ORA. BlackRock Inc. boosted its position in shares of Ormat Technologies by 8.2% during the 1st quarter. BlackRock Inc. now owns 8,528,140 shares of the energy company’s stock worth $722,930,000 after acquiring an additional 643,171 shares in the last quarter. Norges Bank bought a new position in Ormat Technologies during the fourth quarter worth $50,016,000. State Street Corp raised its stake in Ormat Technologies by 44.7% during the third quarter. State Street Corp now owns 1,697,465 shares of the energy company’s stock worth $146,321,000 after buying an additional 524,366 shares during the last quarter. Mizuho Markets Americas LLC raised its stake in Ormat Technologies by 560.2% during the first quarter. Mizuho Markets Americas LLC now owns 562,187 shares of the energy company’s stock worth $118,537,000 after buying an additional 477,039 shares during the last quarter. Finally, Amundi increased its stake in Ormat Technologies by 29.9% in the fourth quarter. Amundi now owns 1,566,912 shares of the energy company’s stock valued at $136,253,000 after purchasing an additional 361,083 shares in the last quarter. Institutional investors and hedge funds own 88.24% of the company’s stock.

Analyst Upgrades and Downgrades

ORA has been the topic of a number of research analyst reports. Barclays initiated coverage on shares of Ormat Technologies in a report on Monday, May 22nd. They issued an “equal weight” rating and a $89.00 target price on the stock. StockNews.com assumed coverage on shares of Ormat Technologies in a report on Thursday, August 17th. They issued a “sell” rating on the stock. TheStreet cut shares of Ormat Technologies from a “b-” rating to a “c+” rating in a report on Wednesday, August 9th. Bank of America increased their price target on shares of Ormat Technologies from $85.00 to $87.00 in a report on Wednesday, June 14th. Finally, Roth Mkm raised shares of Ormat Technologies from a “neutral” rating to a “buy” rating and set a $92.00 price target on the stock in a report on Monday, August 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Ormat Technologies currently has an average rating of “Hold” and a consensus price target of $92.29.

Ormat Technologies Company Profile

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guadeloupe, Guatemala, Ethiopia, New Zealand, Honduras, and internationally. It operates through 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.