Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management Makes New $19.78 Million Investment in Ormat Technologies, Inc. $ORA

Key Points

• Mivtachim The Workers Social Insurance Fund acquired 181,665 shares of Ormat Technologies valued at approximately $19.78 million, giving it a 0.30% stake and making ORA its 11th-largest holding.
• Ormat reported quarterly EPS of $0.50, beating estimates of $0.26, while revenue rose 10.6% year over year to $258.76 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $130.83.
• Two directors recently sold shares, contributing to $908,019 in insider sales over 90 days. The company also declared a quarterly dividend of $0.12 per share, equivalent to a 0.4% annual yield.

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management bought a new stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 181,665 shares of the energy company's stock, valued at approximately $19,783,000. Ormat Technologies accounts for about 2.6% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management's portfolio, making the stock its 11th largest holding. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management owned 0.30% of Ormat Technologies as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd acquired a new stake in shares of Ormat Technologies during the 4th quarter worth approximately $26,000. Main Street Group LTD bought a new stake in shares of Ormat Technologies in the 1st quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new position in Ormat Technologies during the 4th quarter valued at approximately $31,000. Los Angeles Capital Management LLC acquired a new position in Ormat Technologies during the 4th quarter valued at approximately $32,000. Finally, Smartleaf Asset Management LLC grew its stake in Ormat Technologies by 245.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company's stock worth $33,000 after buying an additional 211 shares during the last quarter. 95.49% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Michal Marom sold 3,080 shares of the company's stock in a transaction dated 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 owned 1,766 shares of the company's stock, valued at $231,293.02. This represents a 63.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David Granot sold 1,766 shares of the 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 completion of the transaction, the director owned 1,766 shares of the company's stock, valued at $237,403.38. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 6,849 shares of company stock valued at $908,019. Company insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on ORA. UBS Group increased their target price on Ormat Technologies from $143.00 to $152.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Weiss Ratings reissued a "hold (c)" rating on shares of Ormat Technologies in a report on Friday, July 17th. Sanford C. Bernstein restated an "underperform" rating and set a $112.00 price target on shares of Ormat Technologies in a research report on Monday, August 10th. Wall Street Zen cut shares of Ormat Technologies from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Finally, Roth Capital reaffirmed a "buy" rating and issued a $135.00 price objective on shares of Ormat Technologies in a report on Monday, May 11th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $130.83.

Ormat Technologies Stock Performance

Shares of ORA stock opened at $114.83 on Friday. Ormat Technologies, Inc. has a 12-month low of $87.33 and a 12-month high of $146.39. The firm has a market capitalization of $7.06 billion, a price-to-earnings ratio of 56.57, a price-to-earnings-growth ratio of 4.55 and a beta of 0.90. The business has a 50 day simple moving average of $113.62 and a 200 day simple moving average of $117.24. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.05 and a quick ratio of 1.00.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its earnings results on Wednesday, August 5th. The energy company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.26 by $0.24. The firm had revenue of $258.76 million for the quarter, compared to analysts' expectations of $240.03 million. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.66%.The firm's revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm earned $0.48 EPS. On average, equities research analysts anticipate that Ormat Technologies, Inc. will post 2.52 EPS for the current year.

Ormat Technologies Dividend Announcement

The firm also recently declared 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, August 19th. Ormat Technologies's dividend payout ratio (DPR) is 23.65%.

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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