Insider Selling: Ormat Technologies, Inc. (NYSE:ORA) CEO Sells 250,000 Shares of Stock

Ormat Technologies, Inc. (NYSE:ORA) CEO Isaac Angel sold 250,000 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $57.00, for a total transaction of $14,250,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Isaac Angel also recently made the following trade(s):

• On Wednesday, July 26th, Isaac Angel sold 150,000 shares of Ormat Technologies stock. The stock was sold at an average price of $57.00, for a total transaction of $8,550,000.00.

Shares of Ormat Technologies, Inc. (NYSE:ORA) traded down 1.75% during trading on Thursday, hitting $56.66. 220,360 shares of the stock were exchanged. The stock’s 50 day moving average price is $58.43 and its 200 day moving average price is $57.67. The stock has a market cap of $2.82 billion, a PE ratio of 25.85 and a beta of 1.20. Ormat Technologies, Inc. has a one year low of $45.30 and a one year high of $61.49.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Thursday, August 3rd. The energy company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.03. Ormat Technologies had a return on equity of 10.39% and a net margin of 15.36%. The firm had revenue of $179.36 million for the quarter, compared to analyst estimates of $169.80 million. During the same period last year, the company earned $0.49 earnings per share. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. Equities research analysts predict that Ormat Technologies, Inc. will post $2.29 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Tuesday, August 15th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, August 11th. This represents a $0.32 annualized dividend and a yield of 0.56%. Ormat Technologies’s dividend payout ratio is currently 14.61%.

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Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday. Oppenheimer Holdings, Inc. set a $65.00 target price on shares of Ormat Technologies and gave the stock a “buy” rating in a research note on Thursday, May 4th. Barclays PLC raised shares of Ormat Technologies from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $54.00 to $59.00 in a research report on Friday, May 26th. BidaskClub raised shares of Ormat Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Finally, Cowen and Company set a $67.00 price target on shares of Ormat Technologies and gave the stock a “buy” rating in a research report on Monday, July 17th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Ormat Technologies presently has an average rating of “Buy” and a consensus target price of $65.38.

Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new stake in shares of Ormat Technologies during the fourth quarter valued at approximately $128,000. AQR Capital Management LLC increased its stake in shares of Ormat Technologies by 4.1% in the fourth quarter. AQR Capital Management LLC now owns 40,311 shares of the energy company’s stock valued at $2,161,000 after buying an additional 1,575 shares in the last quarter. Norges Bank acquired a new stake in shares of Ormat Technologies during the fourth quarter valued at about $20,143,000. Teachers Advisors LLC increased its stake in shares of Ormat Technologies by 250.2% in the fourth quarter. Teachers Advisors LLC now owns 222,435 shares of the energy company’s stock valued at $11,927,000 after buying an additional 158,913 shares in the last quarter. Finally, Creative Planning increased its stake in shares of Ormat Technologies by 43.9% in the first quarter. Creative Planning now owns 1,874 shares of the energy company’s stock valued at $107,000 after buying an additional 572 shares in the last quarter. 45.91% of the stock is owned by institutional investors and hedge funds.

About Ormat Technologies

Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.