Migdal Insurance & Financial Holdings Ltd. Buys 540,000 Shares of Ormat Technologies, Inc. $ORA

Key Points

• Migdal Insurance & Financial Holdings increased its stake in Ormat by 155.8%, buying 540,000 shares to hold 886,526 shares — about 1.46% ownership valued at roughly $97.94 million.
• Ormat's latest quarter delivered $0.67 EPS (in line with estimates) and revenue of $276.04M versus $257.75M expected, a 19.6% year‑over‑year revenue increase.
• Shares trade near $108.30 with a market cap of $6.59B and a PE of ~53.9; the company pays a quarterly dividend of $0.12 (annual yield ~0.4%) and has a “Moderate Buy” analyst consensus with an average price target of $128.64.

Migdal Insurance & Financial Holdings Ltd. lifted its stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 155.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 886,526 shares of the energy company's stock after acquiring an additional 540,000 shares during the period. Ormat Technologies accounts for 0.8% of Migdal Insurance & Financial Holdings Ltd.'s portfolio, making the stock its 28th largest position. Migdal Insurance & Financial Holdings Ltd. owned 1.46% of Ormat Technologies worth $97,935,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. RWC Asset Management LLP raised its position in shares of Ormat Technologies by 8.8% in the 3rd quarter. RWC Asset Management LLP now owns 136,101 shares of the energy company's stock worth $13,100,000 after acquiring an additional 11,063 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of Ormat Technologies by 169.7% in the 3rd quarter. Retirement Systems of Alabama now owns 189,988 shares of the energy company's stock worth $18,286,000 after acquiring an additional 119,552 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Ormat Technologies in the 3rd quarter worth $3,738,000. AGF Management Ltd. bought a new position in shares of Ormat Technologies in the 3rd quarter worth $9,527,000. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Ormat Technologies in the 3rd quarter worth $14,005,000. 95.49% of the stock is owned by institutional investors.

Ormat Technologies Trading Down 3.0%

Ormat Technologies stock opened at $108.30 on Wednesday. The stock has a 50-day moving average of $112.29 and a two-hundred day moving average of $112.98. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.75 and a current ratio of 0.81. Ormat Technologies, Inc. has a one year low of $70.42 and a one year high of $132.58. The stock has a market cap of $6.59 billion, a PE ratio of 53.88, a price-to-earnings-growth ratio of 4.89 and a beta of 0.80.

Ormat Technologies (NYSE:ORA - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The energy company reported $0.67 EPS for the quarter, meeting analysts' consensus estimates of $0.67. Ormat Technologies had a return on equity of 5.21% and a net margin of 12.52%.The company had revenue of $276.04 million during the quarter, compared to analysts' expectations of $257.75 million. During the same period last year, the business posted $0.67 earnings per share. The firm's revenue was up 19.6% compared to the same quarter last year. On average, research analysts anticipate that Ormat Technologies, Inc. will post 2.28 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th were paid a $0.12 dividend. The ex-dividend date was Tuesday, March 10th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. Ormat Technologies's dividend payout ratio (DPR) is 23.88%.

Analysts Set New Price Targets

Several research analysts have recently commented on ORA shares. TD Cowen reduced their price target on Ormat Technologies from $131.00 to $125.00 and set a "buy" rating for the company in a research report on Friday, February 27th. Jefferies Financial Group lowered Ormat Technologies from a "buy" rating to a "hold" rating and boosted their price target for the stock from $125.00 to $130.00 in a research report on Friday, February 13th. Citigroup upped their target price on 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 set a $139.00 price target on Ormat Technologies in a research note on Wednesday, January 28th. Finally, Robert W. Baird decreased their price target on Ormat Technologies from $143.00 to $130.00 and set an "outperform" rating for the company in a research note on Friday, February 27th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Ormat Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $128.64.

Insider Buying and Selling

In other Ormat Technologies news, insider Jessica Woelfel sold 2,359 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $105.16, for a total value of $248,072.44. Following the completion of the sale, the insider directly owned 3,433 shares in the company, valued at approximately $361,014.28. This trade represents a 40.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 3,364 shares of company stock valued at $353,621 in the last three months. Company insiders own 0.56% of the company's stock.

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.

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