Ormat Technologies, Inc. (NYSE:ORA) Insider Jessica Woelfel Sells 167 Shares

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

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

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

Ormat Technologies Stock Up 0.4 %

Shares of Ormat Technologies stock opened at $70.10 on Friday. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 35.76, a PEG ratio of 3.18 and a beta of 0.51. Ormat Technologies, Inc. has a twelve month low of $59.41 and a twelve month high of $84.30. 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 business’s 50 day simple moving average is $67.52 and its 200-day simple moving average is $72.85.

Ormat Technologies Announces Dividend

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

Institutional Investors Weigh In On Ormat Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Pathstone Holdings LLC increased its holdings in shares of Ormat Technologies by 2.4% in the 3rd quarter. Pathstone Holdings LLC now owns 17,729 shares of the energy company’s stock worth $1,364,000 after acquiring an additional 422 shares during the period. Advisors Asset Management Inc. grew its position 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 during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Ormat Technologies in the third quarter valued at approximately $895,000. Cerity Partners LLC increased its stake in shares of Ormat Technologies by 62.5% in the third quarter. Cerity Partners LLC now owns 5,496 shares of the energy company’s stock valued at $423,000 after purchasing an additional 2,114 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Ormat Technologies by 2.6% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 182,939 shares of the energy company’s stock valued at $14,075,000 after buying an additional 4,722 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ORA has been the subject of several research analyst reports. Robert W. Baird initiated coverage on Ormat Technologies in a research note on Thursday, March 13th. They set a “neutral” rating and a $81.00 target price for the company. Jefferies Financial Group raised their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday. Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. JPMorgan Chase & Co. lifted their price target on Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Finally, Piper Sandler initiated coverage on Ormat Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $78.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $83.56.

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.