Ormat Technologies, Inc. (NYSE:ORA) Director David Granot sold 7,500 shares of Ormat Technologies stock in a transaction on Friday, June 7th. The stock was sold at an average price of $61.69, for a total value of $462,675.00. Following the sale, the director now owns 7,500 shares of the company’s stock, valued at $462,675. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
NYSE:ORA opened at $61.80 on Wednesday. Ormat Technologies, Inc. has a twelve month low of $45.79 and a twelve month high of $63.26. The firm has a market cap of $3.14 billion, a PE ratio of 29.71, a price-to-earnings-growth ratio of 2.94 and a beta of 1.15. The company has a quick ratio of 1.41, a current ratio of 1.57 and a debt-to-equity ratio of 0.78.
Ormat Technologies (NYSE:ORA) last released its earnings results on Monday, May 6th. The energy company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. The business had revenue of $199.04 million during the quarter, compared to the consensus estimate of $183.62 million. Ormat Technologies had a return on equity of 5.86% and a net margin of 7.41%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the company earned $0.48 earnings per share. On average, sell-side analysts anticipate that Ormat Technologies, Inc. will post 1.92 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Monday, May 20th were issued a $0.11 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $0.44 annualized dividend and a dividend yield of 0.71%. Ormat Technologies’s payout ratio is currently 21.15%.
Several research firms have recently weighed in on ORA. ValuEngine upgraded Ormat Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. downgraded Ormat Technologies from an “overweight” rating to a “neutral” rating and set a $60.00 target price for the company. in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $63.33.
Several hedge funds have recently added to or reduced their stakes in ORA. Strs Ohio bought a new stake in shares of Ormat Technologies in the fourth quarter valued at about $52,000. Private Capital Group LLC raised its holdings in shares of Ormat Technologies by 28.2% in the first 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. Psagot Investment House Ltd. raised its holdings in shares of Ormat Technologies by 16.5% in the fourth quarter. Psagot Investment House Ltd. now owns 2,303 shares of the energy company’s stock valued at $120,000 after acquiring an additional 326 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Ormat Technologies by 15.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,775 shares of the energy company’s stock valued at $197,000 after acquiring an additional 506 shares in the last quarter. Finally, Man Group plc bought a new stake in shares of Ormat Technologies in the first quarter valued at about $234,000. Hedge funds and other institutional investors own 75.09% of the company’s stock.
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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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