Ormat Technologies (NYSE:ORA) Insider Jessica Woelfel Sells 869 Shares
by Tristan Rich · The Markets DailyOrmat Technologies, Inc. (NYSE:ORA – Get Free Report) insider Jessica Woelfel sold 869 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $104.59, for a total transaction of $90,888.71. Following the completion of the transaction, the insider owned 5,792 shares in the company, valued at approximately $605,785.28. This trade represents a 13.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Jessica Woelfel also recently made the following trade(s):
- On Tuesday, March 3rd, Jessica Woelfel sold 2,359 shares of Ormat Technologies stock. The stock was sold at an average price of $105.16, for a total transaction of $248,072.44.
Ormat Technologies Price Performance
ORA traded up $1.73 during trading on Wednesday, hitting $107.79. The company’s stock had a trading volume of 710,528 shares, compared to its average volume of 793,084. Ormat Technologies, Inc. has a 12 month low of $64.39 and a 12 month high of $132.58. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 53.63, a price-to-earnings-growth ratio of 4.38 and a beta of 0.84. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 0.79. The firm’s 50 day moving average price is $118.10 and its two-hundred day moving average price is $108.60.
Ormat Technologies (NYSE:ORA – Get Free Report) last issued its quarterly earnings results 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 business had revenue of $276.04 million for the quarter, compared to the consensus estimate of $257.75 million. During the same quarter in the prior year, the company earned $0.67 EPS. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. Sell-side analysts forecast that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.
Ormat Technologies Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, March 10th. Ormat Technologies’s dividend payout ratio is 23.88%.
Analyst Upgrades and Downgrades
Several research firms have issued reports on ORA. Robert W. Baird decreased their price objective on Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Royal Bank Of Canada assumed coverage on Ormat Technologies in a research note on Tuesday. They set an “outperform” rating and a $130.00 price target on the stock. UBS Group decreased their price target on Ormat Technologies from $148.00 to $143.00 and set a “buy” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Ormat Technologies from $99.00 to $111.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Finally, Citigroup raised their target price on shares of Ormat Technologies from $110.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $129.09.
Check Out Our Latest Research Report on ORA
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ORA. Norges Bank acquired a new position in shares of Ormat Technologies in the 4th quarter valued at approximately $86,545,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of 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 buying an additional 540,000 shares during the period. Groupama Asset Managment bought a new stake in shares of Ormat Technologies during the second quarter worth $41,880,000. Canada Pension Plan Investment Board raised its holdings in shares of Ormat Technologies by 62.6% during the second quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock worth $89,928,000 after acquiring an additional 413,384 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in Ormat Technologies in the 2nd quarter valued at $18,310,000. 95.49% of the stock is owned by institutional investors and hedge funds.
About Ormat Technologies
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.
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