Ormat Technologies, Inc. (NYSE:ORA) EVP Sells $874,896.75 in Stock

Ormat Technologies, Inc. (NYSE:ORA) EVP Shlomi Argas sold 12,819 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $68.25, for a total value of $874,896.75. Following the completion of the sale, the executive vice president now directly owns 13,153 shares in the company, valued at $897,692.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of NYSE ORA traded down $0.42 during midday trading on Monday, hitting $70.81. The stock had a trading volume of 163,600 shares, compared to its average volume of 153,112. The company has a market cap of $3.64 billion, a P/E ratio of 34.04, a price-to-earnings-growth ratio of 3.85 and a beta of 1.12. Ormat Technologies, Inc. has a 1-year low of $49.01 and a 1-year high of $71.77. The company has a quick ratio of 1.41, a current ratio of 1.57 and a debt-to-equity ratio of 0.78. The business has a fifty day moving average of $64.38.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Wednesday, August 7th. The energy company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.31 by $0.09. The business had revenue of $184.10 million for the quarter, compared to the consensus estimate of $175.60 million. Ormat Technologies had a return on equity of 6.12% and a net margin of 11.98%. The company’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the business posted $0.32 EPS. On average, sell-side analysts anticipate that Ormat Technologies, Inc. will post 1.69 earnings per share for the current fiscal year.



The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 20th will be issued a dividend of $0.11 per share. The ex-dividend date is Monday, August 19th. This represents a $0.44 annualized dividend and a dividend yield of 0.62%. Ormat Technologies’s payout ratio is currently 21.15%.

Separately, Roth Capital lifted their price objective on Ormat Technologies from $67.00 to $78.00 and gave the company a “buy” rating in a research note on Monday.

Several large investors have recently made changes to their positions in the stock. Prudential Financial Inc. increased its holdings in Ormat Technologies by 3.8% during the 2nd quarter. Prudential Financial Inc. now owns 4,367 shares of the energy company’s stock worth $277,000 after purchasing an additional 160 shares during the last quarter. Private Capital Group LLC grew its position in shares of Ormat Technologies by 28.2% in the 1st quarter. Private Capital Group LLC now owns 941 shares of the energy company’s stock worth $52,000 after acquiring an additional 207 shares in the last quarter. Rhumbline Advisers grew its position in shares of Ormat Technologies by 0.7% in the 1st quarter. Rhumbline Advisers now owns 59,172 shares of the energy company’s stock worth $3,263,000 after acquiring an additional 429 shares in the last quarter. Gamco Investors INC. ET AL grew its position in shares of Ormat Technologies by 0.6% in the 1st quarter. Gamco Investors INC. ET AL now owns 83,000 shares of the energy company’s stock worth $4,577,000 after acquiring an additional 500 shares in the last quarter. Finally, Clearbridge Investments LLC grew its position in shares of Ormat Technologies by 0.8% in the 1st quarter. Clearbridge Investments LLC now owns 79,226 shares of the energy company’s stock worth $4,369,000 after acquiring an additional 660 shares in the last quarter. Institutional investors and hedge funds own 75.34% 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, New Zealand, and internationally. The company operates through three segments: Electricity, Product, and Other. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity.

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