Ormat Technologies, Inc. (NYSE:ORA) Insider Sells $11,963.88 in Stock

Ormat Technologies, Inc. (NYSE:ORA) insider Jessica Woelfel sold 167 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $71.64, for a total transaction of $11,963.88. Following the completion of the sale, the insider now owns 6,490 shares in the company, valued at $464,943.60. This represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Jessica Woelfel also recently made the following trade(s):

• On Tuesday, March 18th, Jessica Woelfel sold 409 shares of Ormat Technologies stock. The stock was sold at an average price of $72.15, for a total transaction of $29,509.35.

Ormat Technologies Stock Up 0.4 %

Shares of NYSE:ORA opened at $70.10 on Friday. The stock has a 50-day simple moving average of $67.52 and a 200-day simple moving average of $72.85. The stock has a market capitalization of $4.24 billion, a P/E ratio of 35.76, a PEG ratio of 3.18 and a beta of 0.51. Ormat Technologies, Inc. has a 1 year low of $59.41 and a 1 year high of $84.30. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95.

Ormat Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Wednesday, March 12th. Ormat Technologies’s payout ratio is currently 23.53%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ORA. Robert W. Baird began coverage on Ormat Technologies in a report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price target for the company. JPMorgan Chase & Co. raised their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Jefferies Financial Group boosted their price target on Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday. Baird R W raised Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. Finally, Piper Sandler assumed coverage on Ormat Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price objective for the company. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Ormat Technologies currently has an average rating of “Hold” and an average price target of $83.56.

Hedge Funds Weigh In On Ormat Technologies

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Ormat Technologies by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company’s stock valued at $409,305,000 after purchasing an additional 274,540 shares in the last quarter. Impax Asset Management Group plc grew its stake in shares of Ormat Technologies by 7.3% in the fourth quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company’s stock valued at $162,586,000 after buying an additional 163,505 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ormat Technologies by 6.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,586,479 shares of the energy company’s stock valued at $107,440,000 after buying an additional 93,418 shares during the period. Geode Capital Management LLC raised its holdings in shares of Ormat Technologies by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 1,373,426 shares of the energy company’s stock valued at $93,029,000 after buying an additional 72,135 shares during the period. Finally, Norges Bank acquired a new position in Ormat Technologies during the 4th quarter worth approximately $62,851,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

About Ormat Technologies

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.