Insider Selling: Ormat Technologies, Inc. (NYSE:ORA) Insider Sells $29,509.35 in Stock

Ormat Technologies, Inc. (NYSE:ORA) insider Jessica Woelfel sold 409 shares of Ormat Technologies stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total value of $29,509.35. Following the sale, the insider now owns 6,094 shares in the company, valued at $439,682.10. This represents a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ormat Technologies Stock Down 0.5 %

Ormat Technologies stock opened at $71.67 on Friday. Ormat Technologies, Inc. has a 12 month low of $59.41 and a 12 month high of $84.30. The stock has a fifty day simple moving average of $67.23 and a two-hundred day simple moving average of $72.93. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 36.57, a PEG ratio of 3.18 and a beta of 0.51.

Ormat Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Wednesday, March 12th. Ormat Technologies’s dividend payout ratio (DPR) is 23.53%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ORA. JPMorgan Chase & Co. boosted their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Piper Sandler assumed coverage on shares of Ormat Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price objective on the stock. Robert W. Baird started coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They set a “neutral” rating and a $81.00 target price for the company. Baird R W upgraded Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. Finally, Jefferies Financial Group raised Ormat Technologies from a “hold” rating to a “buy” rating and raised their price objective for the company from $73.00 to $78.00 in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Ormat Technologies presently has an average rating of “Hold” and an average price target of $82.67.

Institutional Trading of Ormat Technologies

A number of institutional investors have recently made changes to their positions in ORA. Principal Financial Group Inc. lifted its position in Ormat Technologies by 5.6% during the fourth quarter. Principal Financial Group Inc. now owns 131,906 shares of the energy company’s stock valued at $8,933,000 after purchasing an additional 7,025 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Ormat Technologies by 6.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 618,937 shares of the energy company’s stock valued at $41,914,000 after buying an additional 39,689 shares during the period. RWC Asset Management LLP boosted its stake in shares of Ormat Technologies by 348.9% in the 4th quarter. RWC Asset Management LLP now owns 165,599 shares of the energy company’s stock worth $11,214,000 after buying an additional 128,705 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Ormat Technologies in the fourth quarter worth $265,000. Finally, Daiwa Securities Group Inc. purchased a new stake in Ormat Technologies during the fourth quarter valued at $752,000. Hedge funds and other institutional investors own 95.49% 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, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.