Clal Insurance Enterprises Holdings Ltd Sells 234,609 Shares of Ormat Technologies, Inc. $ORA

Clal Insurance Enterprises Holdings Ltd lowered its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 10.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,936,890 shares of the energy company’s stock after selling 234,609 shares during the quarter. Ormat Technologies comprises approximately 1.4% of Clal Insurance Enterprises Holdings Ltd’s holdings, making the stock its 14th largest holding. Clal Insurance Enterprises Holdings Ltd’s holdings in Ormat Technologies were worth $213,873,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ORA. Norges Bank bought a new position in Ormat Technologies during the fourth quarter worth $86,545,000. Migdal Insurance & Financial Holdings Ltd. increased its position in Ormat Technologies by 155.8% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 886,526 shares of the energy company’s stock worth $97,935,000 after acquiring an additional 540,000 shares during the period. Canada Pension Plan Investment Board increased its position in Ormat Technologies by 62.6% during the second quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock worth $89,928,000 after acquiring an additional 413,384 shares during the period. Balyasny Asset Management L.P. bought a new position in Ormat Technologies during the second quarter worth $18,310,000. Finally, AEGON ASSET MANAGEMENT UK Plc increased its position in Ormat Technologies by 102.6% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 294,748 shares of the energy company’s stock worth $32,549,000 after acquiring an additional 149,271 shares during the period. Institutional investors own 95.49% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wolfe Research began coverage on shares of Ormat Technologies in a research report on Monday. They set a “peer perform” rating on the stock. UBS Group boosted their price target on shares of Ormat Technologies from $143.00 to $152.00 and gave the company a “buy” rating in a report on Friday, May 8th. Royal Bank Of Canada began coverage on shares of Ormat Technologies in a report on Tuesday, March 3rd. They issued an “outperform” rating and a $130.00 price target on the stock. Oppenheimer reissued an “outperform” rating and issued a $144.00 price target on shares of Ormat Technologies in a report on Friday, May 8th. Finally, Jefferies Financial Group lowered shares of Ormat Technologies from a “buy” rating to a “hold” rating and boosted their price target for the company from $125.00 to $130.00 in a report on Friday, February 13th. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $133.18.

Ormat Technologies Stock Up 1.5%

ORA opened at $138.43 on Friday. The firm’s 50-day simple moving average is $124.61 and its 200-day simple moving average is $118.26. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.07. Ormat Technologies, Inc. has a twelve month low of $78.24 and a twelve month high of $146.39. The firm has a market cap of $8.51 billion, a price-to-earnings ratio of 67.20, a PEG ratio of 5.81 and a beta of 0.85.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.38. The business had revenue of $403.91 million for the quarter, compared to analyst estimates of $349.17 million. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The firm’s quarterly revenue was up 75.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 EPS. Equities research analysts anticipate that Ormat Technologies, Inc. will post 2.35 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 20th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, May 20th. This represents a $0.48 annualized dividend and a yield of 0.3%. Ormat Technologies’s dividend payout ratio is 23.30%.

Insider Buying and Selling at Ormat Technologies

In related news, Director David Granot sold 1,766 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $134.43, for a total transaction of $237,403.38. Following the transaction, the director owned 1,766 shares in the company, valued at $237,403.38. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michal Marom sold 3,080 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $130.97, for a total transaction of $403,387.60. Following the transaction, the director owned 1,766 shares in the company, valued at approximately $231,293.02. This trade represents a 63.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,721 shares of company stock worth $4,105,657 over the last quarter. Corporate insiders own 0.56% of the company’s stock.

Ormat Technologies Profile

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.