Insider Selling: Ormat Technologies, Inc. (NYSE:ORA) CEO Sells 250,000 Shares of Stock

Ormat Technologies, Inc. (NYSE:ORA) CEO Isaac Angel sold 250,000 shares of Ormat Technologies stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $57.00, for a total value of $14,250,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Isaac Angel also recently made the following trade(s):

  • On Wednesday, July 26th, Isaac Angel sold 150,000 shares of Ormat Technologies stock. The stock was sold at an average price of $57.00, for a total value of $8,550,000.00.

Shares of Ormat Technologies, Inc. (NYSE ORA) traded down 0.80% during midday trading on Friday, hitting $56.13. The company’s stock had a trading volume of 147,994 shares. The firm has a 50-day moving average of $58.24 and a 200 day moving average of $57.68. Ormat Technologies, Inc. has a 12-month low of $45.30 and a 12-month high of $61.49. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 25.61 and a beta of 1.20.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Thursday, August 3rd. The energy company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The firm had revenue of $179.36 million for the quarter, compared to analysts’ expectations of $169.80 million. Ormat Technologies had a return on equity of 10.25% and a net margin of 15.36%. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 EPS. On average, equities research analysts predict that Ormat Technologies, Inc. will post $2.28 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Tuesday, August 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.57%. The ex-dividend date is Friday, August 11th. Ormat Technologies’s dividend payout ratio (DPR) is presently 14.61%.

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ORA has been the topic of several analyst reports. BidaskClub raised Ormat Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Zacks Investment Research downgraded Ormat Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, May 4th. J P Morgan Chase & Co raised Ormat Technologies from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $65.00 to $71.00 in a research report on Wednesday, June 7th. Barclays PLC raised Ormat Technologies from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $54.00 to $59.00 in a research report on Friday, May 26th. Finally, Cowen and Company set a $67.00 price objective on Ormat Technologies and gave the company a “buy” rating in a research report on Monday, July 17th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Ormat Technologies currently has a consensus rating of “Buy” and an average target price of $65.38.

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Ormat Technologies by 4.4% in the second quarter. Vanguard Group Inc. now owns 3,366,355 shares of the energy company’s stock valued at $197,538,000 after buying an additional 142,724 shares during the period. BlackRock Inc. boosted its position in shares of Ormat Technologies by 6,068.3% in the first quarter. BlackRock Inc. now owns 2,473,872 shares of the energy company’s stock valued at $141,210,000 after buying an additional 2,433,766 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Ormat Technologies by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,526,801 shares of the energy company’s stock valued at $89,594,000 after buying an additional 96,288 shares during the period. Renaissance Technologies LLC boosted its position in shares of Ormat Technologies by 17.8% in the second quarter. Renaissance Technologies LLC now owns 1,085,257 shares of the energy company’s stock valued at $63,683,000 after buying an additional 164,100 shares during the period. Finally, State Street Corp boosted its position in shares of Ormat Technologies by 4.9% in the first quarter. State Street Corp now owns 724,132 shares of the energy company’s stock valued at $41,332,000 after buying an additional 34,005 shares during the period. Hedge funds and other institutional investors own 45.91% 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.

Insider Buying and Selling by Quarter for Ormat Technologies (NYSE:ORA)

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