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

Ormat Technologies, Inc. (NYSE:ORA) insider Jessica Woelfel sold 409 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total transaction of $29,509.35. Following the transaction, the insider now directly owns 6,094 shares of the company’s stock, valued at approximately $439,682.10. This trade represents a 6.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Ormat Technologies Stock Up 0.5 %

Shares of NYSE:ORA opened at $72.09 on Friday. The firm has a 50 day simple moving average of $67.11 and a 200 day simple moving average of $72.94. Ormat Technologies, Inc. has a 52 week low of $59.41 and a 52 week 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. The company has a market cap of $4.36 billion, a PE ratio of 36.78, a price-to-earnings-growth 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. Stockholders of record on Wednesday, March 12th will be given a $0.12 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.67%. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.53%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ORA. Norges Bank purchased a new position in Ormat Technologies during the 4th quarter valued at about $62,851,000. Vanguard Group Inc. grew its position in Ormat Technologies by 4.8% during the fourth 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. Erste Asset Management GmbH acquired a new position in Ormat Technologies in the 3rd quarter valued at approximately $19,096,000. Impax Asset Management Group plc lifted its position in Ormat Technologies by 7.3% in the 4th quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company’s stock worth $162,586,000 after buying an additional 163,505 shares in the last quarter. Finally, Soros Fund Management LLC purchased a new position in shares of Ormat Technologies during the 4th quarter valued at $10,158,000. 95.49% of the stock is owned by institutional investors and hedge funds.

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.