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

Clal Insurance Enterprises Holdings Ltd acquired a new stake in Ormat Technologies, Inc. (NYSE:ORA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 investment portfolio, making the stock its 18th largest position.

Other institutional investors have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of Ormat Technologies during the fourth quarter worth about $26,000. Main Street Group LTD acquired a new position in Ormat Technologies in the 1st quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new position in Ormat Technologies in the 4th quarter worth approximately $31,000. Los Angeles Capital Management LLC purchased a new position in Ormat Technologies during the 4th quarter worth approximately $32,000. Finally, Quantbot Technologies LP acquired a new stake in Ormat Technologies during the 2nd quarter valued at approximately $33,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Ormat Technologies Stock Performance

Shares of NYSE ORA opened at $108.62 on Monday. The company has a market capitalization of $6.68 billion, a PE ratio of 53.51, a price-to-earnings-growth ratio of 4.38 and a beta of 0.90. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.00 and a current ratio of 1.05. The company’s fifty day moving average price is $110.90 and its 200 day moving average price is $116.62. Ormat Technologies, Inc. has a 1 year low of $89.08 and a 1 year high of $146.39.

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

Ormat Technologies Announces Dividend

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

Insider Buying and Selling at Ormat Technologies

In related news, Director Stanley Stern sold 250 shares of Ormat Technologies stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $138.42, for a total value of $34,605.00. Following the completion of the transaction, the director owned 5,800 shares in the company, valued at $802,836. The trade was a 4.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ORA has been the topic of several recent research reports. Barclays dropped their price objective on shares of Ormat Technologies from $127.00 to $122.00 and set an “overweight” rating on the stock in a report on Monday, August 10th. Oppenheimer decreased their target price on shares of Ormat Technologies from $144.00 to $141.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. Wolfe Research initiated coverage on shares of Ormat Technologies in a report on Monday, June 8th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $112.00 price target on shares of Ormat Technologies in a research report on Monday, August 10th. Finally, Wall Street Zen cut Ormat Technologies from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $130.83.

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.