Ormat Technologies, Inc. (NYSE:ORA) Director Robert Eugene Joyal sold 7,500 shares of Ormat Technologies stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $57.75, for a total value of $433,125.00. Following the sale, the director now owns 7,500 shares of the company’s stock, valued at approximately $433,125. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Robert Eugene Joyal also recently made the following trade(s):
- On Tuesday, May 16th, Robert Eugene Joyal sold 7,500 shares of Ormat Technologies stock. The stock was sold at an average price of $57.00, for a total value of $427,500.00.
Ormat Technologies, Inc. (NYSE ORA) traded up 0.18% during trading on Friday, hitting $55.71. The stock had a trading volume of 105,884 shares. Ormat Technologies, Inc. has a 12-month low of $45.30 and a 12-month high of $61.49. The company has a market cap of $2.78 billion, a P/E ratio of 25.42 and a beta of 1.20. The company has a 50 day moving average of $57.86 and a 200-day moving average of $57.76.
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 consensus estimate of $0.55 by $0.03. Ormat Technologies had a return on equity of 10.25% and a net margin of 15.36%. The company had revenue of $179.36 million for the quarter, compared to analyst estimates of $169.80 million. During the same period in the prior year, the firm posted $0.49 EPS. The business’s revenue was up 12.2% compared to the same quarter last year. On average, equities analysts predict that Ormat Technologies, Inc. will post $2.28 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Friday, August 11th. Ormat Technologies’s payout ratio is currently 14.61%.
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Several research firms have commented on ORA. BidaskClub upgraded Ormat Technologies from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Zacks Investment Research cut Ormat Technologies from a “buy” rating to a “hold” rating in a report on Thursday, May 4th. J P Morgan Chase & Co upgraded Ormat Technologies from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $65.00 to $71.00 in a report on Wednesday, June 7th. Barclays PLC upgraded Ormat Technologies from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $54.00 to $59.00 in a report on Friday, May 26th. Finally, Cowen and Company set a $67.00 price target on Ormat Technologies and gave the company a “buy” rating in a report on Monday, July 17th. Three 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 price target of $65.38.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning raised 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 worth $107,000 after buying an additional 572 shares in the last quarter. Royal Bank of Canada raised 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 worth $117,000 after buying an additional 34 shares in the last quarter. US Bancorp DE raised 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 worth $124,000 after buying an additional 545 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Ormat Technologies during the fourth quarter worth approximately $128,000. Finally, SG Americas Securities LLC raised 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 worth $130,000 after buying an additional 326 shares in the last quarter. 45.33% of the stock is currently owned by institutional investors.
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.
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