Clal Insurance Enterprises Holdings Ltd Has $213.87 Million Stock Position in Ormat Technologies, Inc. $ORA

Clal Insurance Enterprises Holdings Ltd trimmed its position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 10.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,936,890 shares of the energy company's stock after selling 234,609 shares during the quarter. Ormat Technologies makes up approximately 1.4% of Clal Insurance Enterprises Holdings Ltd's portfolio, making the stock its 14th largest position. Clal Insurance Enterprises Holdings Ltd owned approximately 3.19% of Ormat Technologies worth $213,873,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in shares of Ormat Technologies by 324.1% during the first quarter. AQR Capital Management LLC now owns 24,918 shares of the energy company's stock worth $1,740,000 after purchasing an additional 19,043 shares during the period. United Services Automobile Association purchased a new position in Ormat Technologies during the first quarter valued at approximately $243,000. Empowered Funds LLC grew its position in Ormat Technologies by 7.3% during the first quarter. Empowered Funds LLC now owns 4,201 shares of the energy company's stock valued at $297,000 after purchasing an additional 286 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Ormat Technologies by 22.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 234,467 shares of the energy company's stock valued at $16,593,000 after purchasing an additional 43,483 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in Ormat Technologies by 10.5% during the first quarter. Intech Investment Management LLC now owns 24,592 shares of the energy company's stock valued at $1,740,000 after purchasing an additional 2,329 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Price Performance

NYSE ORA opened at $138.43 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $8.51 billion, a PE ratio of 67.20, a price-to-earnings-growth ratio of 5.81 and a beta of 0.85. The company has a 50 day moving average price of $124.61 and a two-hundred day moving average price of $118.26. Ormat Technologies, Inc. has a 12-month low of $78.24 and a 12-month high of $146.39.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.38. The firm had revenue of $403.91 million during the quarter, compared to analysts' expectations of $349.17 million. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The company's revenue was up 75.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 earnings per share. As a group, equities analysts predict that Ormat Technologies, Inc. will post 2.35 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 20th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Wednesday, May 20th. Ormat Technologies's payout ratio is presently 23.30%.

Insiders Place Their Bets

In other news, Director Michal Marom sold 3,080 shares of the business's stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $130.97, for a total value of $403,387.60. Following the completion of the sale, the director directly owned 1,766 shares in the company, valued at approximately $231,293.02. The trade was a 63.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Granot sold 1,766 shares of the business's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $134.43, for a total transaction of $237,403.38. Following the completion of the sale, the director owned 1,766 shares of the company's stock, valued at $237,403.38. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 30,721 shares of company stock valued at $4,105,657 in the last three months. Company insiders own 0.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ORA. Royal Bank Of Canada began coverage on shares of Ormat Technologies in a research report on Tuesday, March 3rd. They set an "outperform" rating and a $130.00 price objective on the stock. Citigroup boosted their price objective on shares of Ormat Technologies from $110.00 to $128.00 and gave the company a "neutral" rating in a research report on Wednesday, February 18th. Roth Mkm reaffirmed a "buy" rating and set a $135.00 price objective on shares of Ormat Technologies in a research report on Monday, May 11th. Oppenheimer reaffirmed an "outperform" rating and set a $144.00 price objective on shares of Ormat Technologies in a research report on Friday, May 8th. Finally, UBS Group boosted their price objective on shares of Ormat Technologies from $143.00 to $152.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $133.18.

Ormat Technologies Company 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.

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