Ormat Technologies, Inc. (ORA) VP Sells $174,096.00 in Stock
Ormat Technologies, Inc. (NYSE:ORA) VP Shimon Hatzir sold 2,976 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $58.50, for a total transaction of $174,096.00. Following the completion of the transaction, the vice president now directly owns 2,976 shares in the company, valued at approximately $174,096. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Ormat Technologies, Inc. (NYSE:ORA) traded up 0.69% during trading on Tuesday, hitting $58.49. 39,628 shares of the stock traded hands. Ormat Technologies, Inc. has a 52-week low of $45.30 and a 52-week high of $61.49. The stock has a market cap of $2.92 billion, a P/E ratio of 26.68 and a beta of 1.20. The stock has a 50 day moving average price of $57.23 and a 200-day moving average price of $58.00.
Ormat Technologies (NYSE:ORA) last released its quarterly earnings results on Thursday, August 3rd. The energy company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. Ormat Technologies had a net margin of 15.36% and a return on equity of 10.25%. The firm had revenue of $179.36 million for the quarter, compared to analysts’ expectations of $169.80 million. During the same quarter last year, the company earned $0.49 EPS. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, analysts anticipate that Ormat Technologies, Inc. will post $2.29 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 15th were issued a $0.08 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.32 dividend on an annualized basis and a yield of 0.55%. Ormat Technologies’s payout ratio is currently 14.61%.
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Several research firms have recently commented on ORA. Cowen and Company set a $67.00 target price on shares of Ormat Technologies and gave the stock a “buy” rating in a report on Friday, August 18th. TheStreet downgraded shares of Ormat Technologies from a “b” rating to a “c+” rating in a report on Monday, August 14th. Zacks Investment Research downgraded shares of Ormat Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. BidaskClub downgraded shares of Ormat Technologies from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Finally, J P Morgan Chase & Co raised shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $65.00 to $71.00 in a report on Wednesday, June 7th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $65.38.
A number of hedge funds have recently made changes to their positions in the business. Royal Bank of Canada lifted its holdings in Ormat Technologies by 1.7% in the 2nd quarter. Royal Bank of Canada now owns 2,008 shares of the energy company’s stock valued at $117,000 after purchasing an additional 34 shares in the last quarter. Psagot Investment House Ltd. lifted its holdings in Ormat Technologies by 1.6% in the 2nd quarter. Psagot Investment House Ltd. now owns 2,661 shares of the energy company’s stock valued at $156,000 after purchasing an additional 43 shares in the last quarter. Hanseatic Management Services Inc. lifted its holdings in Ormat Technologies by 1.0% in the 2nd quarter. Hanseatic Management Services Inc. now owns 4,940 shares of the energy company’s stock valued at $290,000 after purchasing an additional 48 shares in the last quarter. Sei Investments Co. lifted its holdings in Ormat Technologies by 2.2% in the 2nd quarter. Sei Investments Co. now owns 2,266 shares of the energy company’s stock valued at $133,000 after purchasing an additional 49 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. lifted its holdings in Ormat Technologies by 0.5% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 11,131 shares of the energy company’s stock valued at $633,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 46.41% of the company’s stock.
About Ormat Technologies
Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.
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