Dafna Sharir Sells 876 Shares of Ormat Technologies, Inc. (NYSE:ORA) Stock

Ormat Technologies, Inc. (NYSE:ORA) Director Dafna Sharir sold 876 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $75.00, for a total value of $65,700.00. Following the completion of the sale, the director now directly owns 4,438 shares of the company’s stock, valued at approximately $332,850. The trade was a 16.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ormat Technologies Stock Performance

NYSE:ORA opened at $70.89 on Friday. The stock has a market cap of $4.30 billion, a P/E ratio of 36.17, a PEG ratio of 3.18 and a beta of 0.65. The stock has a 50 day simple moving average of $71.54 and a 200 day simple moving average of $71.36. 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 1-year low of $61.58 and a 1-year high of $84.30.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.10. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The firm had revenue of $229.76 million for the quarter, compared to analyst estimates of $228.33 million. During the same quarter last year, the company earned $0.64 EPS. The company’s revenue was up 2.5% on a year-over-year basis. Research analysts anticipate 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 Wednesday, June 4th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $0.48 dividend on an annualized basis and a yield of 0.68%. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.30%.

Hedge Funds Weigh In On Ormat Technologies

A number of hedge funds have recently added to or reduced their stakes in ORA. Harel Insurance Investments & Financial Services Ltd. increased its stake in Ormat Technologies by 273,109.4% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 956,233 shares of the energy company’s stock worth $67,673,000 after acquiring an additional 955,883 shares during the period. Norges Bank bought a new position in Ormat Technologies during the 4th quarter worth $62,851,000. Canada Pension Plan Investment Board increased its stake in Ormat Technologies by 7,951.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 660,255 shares of the energy company’s stock worth $46,726,000 after acquiring an additional 652,055 shares during the period. Dimensional Fund Advisors LP increased its stake in Ormat Technologies by 19.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,890,235 shares of the energy company’s stock worth $133,770,000 after acquiring an additional 303,756 shares during the period. Finally, Vanguard Group Inc. increased its stake 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 worth $409,305,000 after acquiring an additional 274,540 shares during the period. Institutional investors own 95.49% of the company’s stock.

Analyst Ratings Changes

ORA has been the subject of a number of recent analyst reports. Wall Street Zen raised Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Monday, April 7th. Barclays raised their price objective on Ormat Technologies from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, May 8th. Jefferies Financial Group raised their price objective on Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, March 25th. Robert W. Baird assumed coverage on Ormat Technologies in a report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price target for the company. Finally, Baird R W raised Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $83.29.

Ormat Technologies Company Profile

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, 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.