Clal Insurance Enterprises Holdings Ltd Has $181.58 Million Stake in Ormat Technologies, Inc. $ORA

Clal Insurance Enterprises Holdings Ltd reduced its stake in Ormat Technologies, Inc. (NYSE:ORA) by 3.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,171,499 shares of the energy company’s stock after selling 77,000 shares during the period. Ormat Technologies makes up approximately 1.8% of Clal Insurance Enterprises Holdings Ltd’s investment portfolio, making the stock its 15th biggest position. Clal Insurance Enterprises Holdings Ltd’s holdings in Ormat Technologies were worth $181,576,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Duff & Phelps Investment Management Co. bought a new stake in shares of Ormat Technologies during the 2nd quarter valued at $757,000. Intech Investment Management LLC lifted its position in Ormat Technologies by 28.6% during the second quarter. Intech Investment Management LLC now owns 31,616 shares of the energy company’s stock worth $2,648,000 after purchasing an additional 7,024 shares during the period. Creative Planning grew its stake in Ormat Technologies by 1.2% during the second quarter. Creative Planning now owns 13,526 shares of the energy company’s stock worth $1,133,000 after buying an additional 159 shares in the last quarter. SG Americas Securities LLC increased its holdings in Ormat Technologies by 231.9% in the 2nd quarter. SG Americas Securities LLC now owns 5,376 shares of the energy company’s stock valued at $450,000 after buying an additional 3,756 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Ormat Technologies by 7.8% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,807 shares of the energy company’s stock valued at $1,240,000 after buying an additional 1,069 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director Ravit Barniv sold 1,753 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $112.54, for a total transaction of $197,282.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Assi Ginzburg sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $112.72, for a total transaction of $2,254,400.00. Following the completion of the transaction, the chief financial officer owned 4,482 shares of the company’s stock, valued at approximately $505,211.04. This trade represents a 81.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 81,251 shares of company stock worth $8,413,932 over the last quarter. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ORA. Weiss Ratings reiterated a “hold (c)” rating on shares of Ormat Technologies in a research report on Wednesday, October 8th. Piper Sandler raised Ormat Technologies from a “neutral” rating to an “overweight” rating and raised their target price for the company from $90.00 to $102.00 in a report on Wednesday, September 17th. Cowen reissued a “hold” rating on shares of Ormat Technologies in a report on Wednesday, November 5th. Baird R W raised Ormat Technologies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 30th. Finally, UBS Group boosted their target price on Ormat Technologies from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Ormat Technologies presently has an average rating of “Moderate Buy” and an average target price of $115.44.

Ormat Technologies Stock Up 0.1%

Shares of ORA opened at $107.70 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.64 and a current ratio of 0.70. Ormat Technologies, Inc. has a 52 week low of $61.58 and a 52 week high of $115.72. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 50.09, a PEG ratio of 4.84 and a beta of 0.77. The stock has a fifty day moving average of $103.17 and a 200-day moving average of $90.66.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Monday, November 3rd. The energy company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $249.73 million during the quarter, compared to analysts’ expectations of $235.03 million. Ormat Technologies had a return on equity of 5.47% and a net margin of 14.49%.During the same quarter in the prior year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. Ormat Technologies has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, November 17th. Ormat Technologies’s dividend payout ratio (DPR) is 22.02%.

Ormat Technologies Profile

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.