Key Points
- Ormat Technologies director Stanley Stern sold 250 shares on May 27 at an average price of $138.42, totaling $34,605. After the sale, he still owned 5,800 shares, a 4.13% reduction in his stake.
- This was not his only recent sale: Stern also sold 577 shares on May 15 at an average price of $130.17, for proceeds of $75,108.09.
- Ormat recently reported strong quarterly results, with EPS of $1.30 beating estimates and revenue of $403.91 million topping forecasts. The company also announced a quarterly dividend of $0.12 per share, yielding 0.4% annually.
Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) Director Stanley Stern sold 250 shares of the business's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $138.42, for a total value of $34,605.00. Following the completion of the transaction, the director owned 5,800 shares of the company's stock, valued at $802,836. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Stanley Stern also recently made the following trade(s):
- On Friday, May 15th, Stanley Stern sold 577 shares of Ormat Technologies stock. The shares were sold at an average price of $130.17, for a total value of $75,108.09.
Ormat Technologies Trading Down 0.6%
Shares of ORA opened at $136.88 on Friday. The stock has a fifty day moving average of $118.80 and a two-hundred day moving average of $116.15. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.07. The company has a market capitalization of $8.41 billion, a PE ratio of 66.45, a price-to-earnings-growth ratio of 5.87 and a beta of 0.80. Ormat Technologies, Inc. has a fifty-two week low of $73.05 and a fifty-two week high of $141.62.
Ormat Technologies (NYSE:ORA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.38. The company had revenue of $403.91 million during the quarter, compared to the consensus estimate of $349.17 million. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.97%.Ormat Technologies's revenue was up 75.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 EPS. As a group, analysts forecast that Ormat Technologies, Inc. will post 2.35 EPS for the current year.
Ormat Technologies Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 20th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. Ormat Technologies's payout ratio is currently 23.30%.
Institutional Trading of Ormat Technologies
A number of institutional investors have recently added to or reduced their stakes in ORA. AQR Capital Management LLC boosted its position in Ormat Technologies by 324.1% during the 1st quarter. AQR Capital Management LLC now owns 24,918 shares of the energy company's stock worth $1,740,000 after purchasing an additional 19,043 shares during the period. United Services Automobile Association purchased a new stake in Ormat Technologies during the 1st quarter worth $243,000. Empowered Funds LLC boosted its position in Ormat Technologies by 7.3% during the 1st quarter. Empowered Funds LLC now owns 4,201 shares of the energy company's stock worth $297,000 after purchasing an additional 286 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Ormat Technologies by 22.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 234,467 shares of the energy company's stock worth $16,593,000 after purchasing an additional 43,483 shares during the period. Finally, Intech Investment Management LLC boosted its position in Ormat Technologies by 10.5% during the 1st quarter. Intech Investment Management LLC now owns 24,592 shares of the energy company's stock worth $1,740,000 after purchasing an additional 2,329 shares during the period. 95.49% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on ORA shares. Jefferies Financial Group cut shares of Ormat Technologies from a "buy" rating to a "hold" rating and boosted their price objective for the company from $125.00 to $130.00 in a research note on Friday, February 13th. JPMorgan Chase & Co. boosted their price objective on shares of Ormat Technologies from $106.00 to $123.00 and gave the company a "neutral" rating in a research note on Friday, May 8th. Oppenheimer reissued an "outperform" rating and set a $144.00 price objective on shares of Ormat Technologies in a research note on Friday, May 8th. Weiss Ratings reissued a "hold (c)" rating on shares of Ormat Technologies in a research note on Tuesday, April 21st. Finally, Citigroup boosted their price objective on shares of Ormat Technologies from $110.00 to $128.00 and gave the company a "neutral" rating in a research note on Wednesday, February 18th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Ormat Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $133.18.
Read Our Latest Stock Report on Ormat Technologies
About Ormat Technologies
(
Get Free Report)
Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company's core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.
Ormat's offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.
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