Ormat Technologies, Inc. (NYSE:ORA) Director Sells $94,924.68 in Stock

Ormat Technologies, Inc. (NYSE:ORA) Director Byron G. Wong sold 1,266 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the completion of the sale, the director now owns 6,906 shares of the company’s stock, valued at approximately $517,811.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Ormat Technologies Price Performance

ORA traded up $0.13 during midday trading on Monday, reaching $75.66. 303,222 shares of the company’s stock were exchanged, compared to its average volume of 444,731. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 34.02, a price-to-earnings-growth ratio of 3.68 and a beta of 0.53. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.72. Ormat Technologies, Inc. has a one year low of $58.73 and a one year high of $78.51. The business has a 50-day simple moving average of $74.36 and a two-hundred day simple moving average of $70.91.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The company had revenue of $212.96 million during the quarter, compared to analysts’ expectations of $214.07 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. Ormat Technologies’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, research analysts predict that Ormat Technologies, Inc. will post 2.04 EPS for the current year.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Tuesday, August 20th. Ormat Technologies’s dividend payout ratio (DPR) is currently 21.62%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ORA. Roth Mkm reiterated a “buy” rating and issued a $80.00 target price on shares of Ormat Technologies in a research note on Monday, August 12th. Oppenheimer raised their price target on shares of Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $81.67.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Ormat Technologies by 1.2% in the first quarter. Vanguard Group Inc. now owns 5,388,571 shares of the energy company’s stock valued at $356,670,000 after purchasing an additional 63,943 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Ormat Technologies by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company’s stock valued at $104,030,000 after purchasing an additional 86,291 shares in the last quarter. Van Berkom & Associates Inc. increased its holdings in shares of Ormat Technologies by 2.0% in the second quarter. Van Berkom & Associates Inc. now owns 1,322,936 shares of the energy company’s stock valued at $94,855,000 after purchasing an additional 25,799 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Ormat Technologies by 3.5% in the fourth quarter. Wellington Management Group LLP now owns 1,041,169 shares of the energy company’s stock valued at $78,910,000 after purchasing an additional 35,665 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Ormat Technologies by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 560,029 shares of the energy company’s stock valued at $40,154,000 after purchasing an additional 15,004 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

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.