Ormat Technologies (NYSE:ORA) CEO Doron Blachar Sells 14,994 Shares

Ormat Technologies, Inc. (NYSE:ORA) CEO Doron Blachar sold 14,994 shares of the firm’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $94.71, for a total transaction of $1,420,081.74. Following the sale, the chief executive officer owned 35,419 shares in the company, valued at approximately $3,354,533.49. This represents a 29.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Ormat Technologies Price Performance

NYSE:ORA opened at $100.35 on Thursday. Ormat Technologies, Inc. has a 52 week low of $61.58 and a 52 week high of $101.15. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $6.09 billion, a PE ratio of 46.67, a price-to-earnings-growth ratio of 4.48 and a beta of 0.69. The stock’s 50-day moving average price is $91.17 and its 200-day moving average price is $81.61.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Wednesday, August 6th. The energy company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.37 by $0.11. Ormat Technologies had a return on equity of 5.47% and a net margin of 14.49%.The company had revenue of $234.02 million for the quarter, compared to analyst estimates of $225.26 million. During the same period last year, the company earned $0.37 earnings per share. Ormat Technologies’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, equities analysts expect that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. Ormat Technologies’s dividend payout ratio (DPR) is currently 22.33%.

Hedge Funds Weigh In On Ormat Technologies

Several institutional investors and hedge funds have recently bought and sold shares of ORA. Dimensional Fund Advisors LP lifted its holdings in Ormat Technologies by 19.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,890,235 shares of the energy company’s stock valued at $133,770,000 after acquiring an additional 303,756 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Ormat Technologies by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,467,156 shares of the energy company’s stock valued at $122,902,000 after purchasing an additional 48,038 shares during the last quarter. Van Berkom & Associates Inc. lifted its stake in shares of Ormat Technologies by 2.7% in the 1st quarter. Van Berkom & Associates Inc. now owns 1,280,026 shares of the energy company’s stock valued at $90,587,000 after purchasing an additional 33,719 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Ormat Technologies by 62.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock valued at $89,928,000 after purchasing an additional 413,384 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Ormat Technologies by 273,109.4% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 956,233 shares of the energy company’s stock valued at $67,673,000 after purchasing an additional 955,883 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on ORA shares. Robert W. Baird upgraded shares of Ormat Technologies from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $87.00 to $103.00 in a research report on Wednesday, July 30th. Roth Capital reiterated a “buy” rating and issued a $98.00 price objective (up from $88.00) on shares of Ormat Technologies in a report on Tuesday, August 5th. Piper Sandler upgraded Ormat Technologies from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $90.00 to $102.00 in a report on Wednesday, September 17th. UBS Group lifted their price target on Ormat Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Ormat Technologies from $75.00 to $85.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.50.

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.