Jessica Woelfel Sells 409 Shares of Ormat Technologies, Inc. (NYSE:ORA) Stock

Ormat Technologies, Inc. (NYSE:ORA) insider Jessica Woelfel sold 409 shares of Ormat Technologies stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total value of $29,509.35. Following the completion of the sale, the insider now owns 6,094 shares of the company’s stock, valued at $439,682.10. The trade was a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Ormat Technologies Trading Down 0.5 %

Shares of NYSE:ORA opened at $71.67 on Friday. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 36.57, a PEG ratio of 3.18 and a beta of 0.51. 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 stock’s 50-day simple moving average is $67.23 and its two-hundred day simple moving average is $72.92. Ormat Technologies, Inc. has a 52-week low of $59.41 and a 52-week high of $84.30.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.67%. Ormat Technologies’s payout ratio is currently 23.53%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ORA. Pathstone Holdings LLC lifted its position in shares of Ormat Technologies by 2.4% during the 3rd quarter. Pathstone Holdings LLC now owns 17,729 shares of the energy company’s stock valued at $1,364,000 after buying an additional 422 shares in the last quarter. Caprock Group LLC purchased a new position in shares of Ormat Technologies during the 3rd quarter valued at about $450,000. Banque Cantonale Vaudoise lifted its position in shares of Ormat Technologies by 9.2% during the 3rd quarter. Banque Cantonale Vaudoise now owns 19,063 shares of the energy company’s stock valued at $1,467,000 after buying an additional 1,612 shares in the last quarter. Global Alpha Capital Management Ltd. lifted its holdings in Ormat Technologies by 6.1% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 2,446,624 shares of the energy company’s stock worth $188,125,000 after purchasing an additional 140,882 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in Ormat Technologies by 10.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 11,227 shares of the energy company’s stock worth $864,000 after purchasing an additional 1,070 shares in the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on ORA shares. JPMorgan Chase & Co. lifted their price objective on Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Baird R W upgraded Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. Robert W. Baird started coverage on Ormat Technologies in a report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price objective for the company. Jefferies Financial Group upgraded Ormat Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $73.00 to $78.00 in a report on Thursday, February 20th. Finally, 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. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $82.67.

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.