Clal Insurance Enterprises Holdings Ltd Acquires Shares of 2,382,484 Ormat Technologies, Inc. $ORA

Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Ormat Technologies, Inc. (NYSE:ORA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,382,484 shares of the energy company’s stock, valued at approximately $259,568,000. Ormat Technologies accounts for approximately 1.2% of Clal Insurance Enterprises Holdings Ltd’s portfolio, making the stock its 18th biggest holding. Clal Insurance Enterprises Holdings Ltd owned approximately 3.87% of Ormat Technologies at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of ORA. Aster Capital Management DIFC Ltd purchased a new position in Ormat Technologies during the 4th quarter worth $26,000. Main Street Group LTD bought a new stake in shares of Ormat Technologies in the first quarter valued at about $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in Ormat Technologies in the fourth quarter worth about $31,000. Los Angeles Capital Management LLC bought a new position in Ormat Technologies during the 4th quarter worth about $32,000. Finally, Quantbot Technologies LP bought a new position in Ormat Technologies during the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Analyst Ratings Changes

ORA has been the subject of several recent research reports. Roth Capital restated a “buy” rating and issued a $135.00 price target on shares of Ormat Technologies in a report on Monday, May 11th. Piper Sandler lifted their price objective on shares of Ormat Technologies from $125.00 to $142.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Wolfe Research started coverage on shares of Ormat Technologies in a research note on Monday, June 8th. They issued a “peer perform” rating for the company. Weiss Ratings restated a “hold (c)” rating on shares of Ormat Technologies in a report on Friday, July 17th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and set a $112.00 target price on shares of Ormat Technologies in a research report on Monday, August 10th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $130.83.

Insider Activity at Ormat Technologies

In related news, Director Stanley Stern sold 250 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $138.42, for a total value of $34,605.00. Following the completion of the transaction, the director directly owned 5,800 shares of the company’s stock, valued at $802,836. This trade represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by insiders.

Ormat Technologies Stock Performance

Shares of ORA stock opened at $108.62 on Monday. Ormat Technologies, Inc. has a 12-month low of $89.08 and a 12-month high of $146.39. The business’s fifty day simple moving average is $110.90 and its 200-day simple moving average is $116.62. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.87. The company has a market cap of $6.68 billion, a PE ratio of 53.51, a PEG ratio of 4.38 and a beta of 0.90.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.24. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.66%.The firm had revenue of $258.76 million during the quarter, compared to analysts’ expectations of $240.03 million. During the same quarter last year, the firm earned $0.48 EPS. The business’s quarterly revenue was up 10.6% on a year-over-year basis. Analysts expect that Ormat Technologies, Inc. will post 2.47 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. Ormat Technologies’s dividend payout ratio is 23.65%.

About Ormat Technologies

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.