Ormat Technologies (NYSE:ORA) Director Sells $2,025,583.56 in Stock

Ormat Technologies, Inc. (NYSE:ORA) Director Isaac Angel sold 18,018 shares of Ormat Technologies stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $112.42, for a total value of $2,025,583.56. Following the transaction, the director owned 29,650 shares of the company’s stock, valued at $3,333,253. This represents a 37.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Ormat Technologies Price Performance

ORA stock opened at $111.31 on Thursday. The stock’s 50 day moving average price is $101.81 and its 200 day moving average price is $89.55. The firm has a market cap of $6.77 billion, a P/E ratio of 51.77, a PEG ratio of 4.84 and a beta of 0.77. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.64 and a current ratio of 0.70. Ormat Technologies, Inc. has a 1 year low of $61.58 and a 1 year high of $115.72.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings results on Monday, November 3rd. The energy company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.04. Ormat Technologies had a return on equity of 5.47% and a net margin of 14.49%.The company had revenue of $249.73 million during the quarter, compared to the consensus estimate of $235.03 million. During the same quarter last year, the business posted $0.36 earnings per share. Ormat Technologies’s revenue was up 17.9% compared to the same quarter last year. Ormat Technologies has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $0.48 annualized dividend and a yield of 0.4%. Ormat Technologies’s payout ratio is presently 22.02%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Teacher Retirement System of Texas acquired a new position in Ormat Technologies in the first quarter valued at $593,000. Principal Financial Group Inc. raised its holdings in shares of Ormat Technologies by 1.0% in the 1st quarter. Principal Financial Group Inc. now owns 133,227 shares of the energy company’s stock worth $9,428,000 after purchasing an additional 1,321 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in shares of Ormat Technologies by 8.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 9,049 shares of the energy company’s stock worth $631,000 after purchasing an additional 711 shares during the period. State of Michigan Retirement System lifted its stake in shares of Ormat Technologies by 2.2% in the 1st quarter. State of Michigan Retirement System now owns 13,800 shares of the energy company’s stock valued at $977,000 after purchasing an additional 300 shares in the last quarter. Finally, Xponance Inc. lifted its stake in shares of Ormat Technologies by 12.4% in the 1st quarter. Xponance Inc. now owns 9,839 shares of the energy company’s stock valued at $696,000 after purchasing an additional 1,082 shares in the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. UBS Group upped their target price on shares of Ormat Technologies from $105.00 to $135.00 and gave the company a “buy” rating in a report on Friday, November 7th. JPMorgan Chase & Co. boosted their price objective on shares of Ormat Technologies from $99.00 to $111.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Baird R W raised shares of Ormat Technologies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 30th. Robert W. Baird upgraded shares of Ormat Technologies from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $87.00 to $103.00 in a research report on Wednesday, July 30th. Finally, Jefferies Financial Group boosted their price target on Ormat Technologies from $97.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $115.44.

About Ormat Technologies

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.