Ormat Technologies, Inc. (NYSE:ORA) CEO Isaac Angel Sells 250,000 Shares

Ormat Technologies, Inc. (NYSE:ORA) CEO Isaac Angel sold 250,000 shares of the company’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, July 26th, Isaac Angel sold 150,000 shares of Ormat Technologies stock. The shares were 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 up 0.04% during trading on Friday, reaching $55.63. 122,416 shares of the company’s stock were exchanged. The stock has a market capitalization of $2.78 billion, a PE ratio of 25.38 and a beta of 1.20. The company’s 50-day moving average is $57.86 and its 200 day moving average is $57.76. Ormat Technologies, Inc. has a 52 week low of $45.30 and a 52 week high of $61.49.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Thursday, August 3rd. The energy company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.03. Ormat Technologies had a net margin of 15.36% and a return on equity of 10.25%. The company had revenue of $179.36 million during the quarter, compared to the consensus estimate of $169.80 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, analysts forecast that Ormat Technologies, Inc. will post $2.28 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Friday, August 11th. Ormat Technologies’s dividend payout ratio (DPR) is 14.61%.

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Institutional investors have recently made changes to their positions in the stock. Creative Planning increased its position 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 during the period. Royal Bank of Canada increased its position in shares of Ormat Technologies by 1.7% in the second quarter. Royal Bank of Canada now owns 2,008 shares of the energy company’s stock valued at $117,000 after buying an additional 34 shares during the period. US Bancorp DE increased its position in shares of Ormat Technologies by 33.6% in the first quarter. US Bancorp DE now owns 2,169 shares of the energy company’s stock valued at $124,000 after buying an additional 545 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Ormat Technologies during the fourth quarter valued at about $128,000. Finally, SG Americas Securities LLC increased its position in shares of Ormat Technologies by 16.6% in the first quarter. SG Americas Securities LLC now owns 2,285 shares of the energy company’s stock valued at $130,000 after buying an additional 326 shares during the period. 45.33% of the stock is owned by institutional investors.

A number of analysts recently weighed in on ORA shares. TheStreet cut shares of Ormat Technologies from a “b” rating to a “c+” rating in a research note on Monday. Zacks Investment Research cut shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Cowen and Company set a $67.00 price target on shares of Ormat Technologies and gave the stock a “buy” rating in a research note on Monday, July 17th. BidaskClub cut shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Finally, J P Morgan Chase & Co upgraded shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $65.00 to $71.00 in a research note on Wednesday, June 7th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $65.38.

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.