Insider Selling: Ormat Technologies, Inc. (NYSE:ORA) Director Sells $530,250.00 in Stock

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Ormat Technologies, Inc. (NYSE:ORA) Director David Granot sold 7,500 shares of Ormat Technologies stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $70.70, for a total value of $530,250.00. Following the transaction, the director now owns 8,861 shares in the company, valued at approximately $626,472.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

David Granot also recently made the following trade(s):

  • On Friday, June 7th, David Granot sold 7,500 shares of Ormat Technologies stock. The shares were sold at an average price of $61.69, for a total value of $462,675.00.

NYSE:ORA opened at $72.37 on Friday. Ormat Technologies, Inc. has a fifty-two week low of $49.01 and a fifty-two week high of $72.58. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.57 and a quick ratio of 1.41. The stock has a market capitalization of $3.60 billion, a PE ratio of 34.79, a price-to-earnings-growth ratio of 3.79 and a beta of 1.12. The business’s 50-day simple moving average is $64.98 and its 200-day simple moving average is $59.86.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Wednesday, August 7th. The energy company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.09. Ormat Technologies had a return on equity of 6.12% and a net margin of 11.98%. The business had revenue of $184.10 million for the quarter, compared to analysts’ expectations of $175.60 million. During the same quarter in the previous year, the business posted $0.32 EPS. Ormat Technologies’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, research analysts expect that Ormat Technologies, Inc. will post 1.73 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 20th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Monday, August 19th. Ormat Technologies’s dividend payout ratio (DPR) is presently 21.15%.

Separately, Roth Capital lifted their price objective on Ormat Technologies from $67.00 to $78.00 and gave the company a “buy” rating in a report on Monday.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. lifted its stake in Ormat Technologies by 3.8% in the 2nd quarter. Prudential Financial Inc. now owns 4,367 shares of the energy company’s stock valued at $277,000 after acquiring an additional 160 shares in the last quarter. Private Capital Group LLC lifted its stake in Ormat Technologies by 28.2% in the 1st quarter. Private Capital Group LLC now owns 941 shares of the energy company’s stock valued at $52,000 after acquiring an additional 207 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Ormat Technologies by 20.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,383 shares of the energy company’s stock valued at $88,000 after acquiring an additional 233 shares in the last quarter. Rhumbline Advisers lifted its stake in Ormat Technologies by 0.7% in the 1st quarter. Rhumbline Advisers now owns 59,172 shares of the energy company’s stock valued at $3,263,000 after acquiring an additional 429 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake in Ormat Technologies by 0.6% in the 1st quarter. Gamco Investors INC. ET AL now owns 83,000 shares of the energy company’s stock valued at $4,577,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 75.42% of the company’s stock.

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, New Zealand, and internationally. The company operates through three segments: Electricity, Product, and Other. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity.

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