Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) major shareholder Corp Orix sold 3,700,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $75.38, for a total transaction of $278,906,000.00. Following the transaction, the insider now directly owns 2,976,077 shares in the company, valued at approximately $224,336,684.26. This represents a 55.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.
Ormat Technologies Trading Down 2.3 %
Shares of ORA opened at $72.50 on Friday. The stock has a market capitalization of $4.38 billion, a P/E ratio of 36.99, a PEG ratio of 4.15 and a beta of 0.53. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The firm has a fifty day simple moving average of $79.25 and a two-hundred day simple moving average of $75.91. Ormat Technologies, Inc. has a twelve month low of $59.41 and a twelve month high of $84.30.
Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.05. The business had revenue of $211.80 million during the quarter, compared to analysts' expectations of $215.53 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The firm's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.47 EPS. On average, research analysts anticipate that Ormat Technologies, Inc. will post 1.93 EPS for the current year.
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The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, November 20th. This represents a $0.48 annualized dividend and a yield of 0.66%. Ormat Technologies's payout ratio is currently 24.49%.
Institutional Investors Weigh In On Ormat Technologies
Several institutional investors and hedge funds have recently modified their holdings of the stock. Tidal Investments LLC lifted its position in shares of Ormat Technologies by 36.8% in the 3rd quarter. Tidal Investments LLC now owns 45,642 shares of the energy company's stock worth $3,512,000 after purchasing an additional 12,272 shares during the period. Geode Capital Management LLC lifted its position in shares of Ormat Technologies by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,301,291 shares of the energy company's stock worth $100,140,000 after purchasing an additional 22,714 shares during the period. Holocene Advisors LP lifted its position in shares of Ormat Technologies by 28.7% in the 3rd quarter. Holocene Advisors LP now owns 48,121 shares of the energy company's stock worth $3,702,000 after purchasing an additional 10,718 shares during the period. Erste Asset Management GmbH purchased a new stake in shares of Ormat Technologies in the 3rd quarter worth about $19,096,000. Finally, Summit Partners Public Asset Management LLC lifted its position in shares of Ormat Technologies by 16.7% in the 3rd quarter. Summit Partners Public Asset Management LLC now owns 350,000 shares of the energy company's stock worth $26,929,000 after purchasing an additional 50,000 shares during the period. 95.49% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
ORA has been the topic of several recent research reports. Roth Mkm reaffirmed a "buy" rating and set a $92.00 target price (up previously from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Oppenheimer increased their target price on shares of Ormat Technologies from $86.00 to $91.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $84.50.
View Our Latest Stock Report on Ormat Technologies
About Ormat Technologies
(
Get Free Report)
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.
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