Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management Trims Stock Holdings in Ormat Technologies, Inc. $ORA

Key Points

• Mivtachim trimmed its stake in Ormat by 18.9% in Q4, selling 42,272 shares and now holds 181,665 shares (~$20.07M), equal to ~0.30% of Ormat and about 2.8% of Mivtachim's portfolio (its 12th largest position).
• Ormat carries a consensus analyst rating of "Moderate Buy" with an average price target of $128.64; the company reported Q4 revenue of $276.0M (beat estimates) and EPS of $0.67 (in line), while ORA trades near $113 with a ~$6.97B market cap.
• Insider selling continued—Jessica Woelfel sold 2,359 shares on March 3 (a 40.7% reduction), insiders now own 0.56% of the stock, and institutional investors hold roughly 95.5%.

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management reduced its stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 18.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 181,665 shares of the energy company's stock after selling 42,272 shares during the period. Ormat Technologies makes up approximately 2.8% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management's portfolio, making the stock its 12th biggest position. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management owned about 0.30% of Ormat Technologies worth $20,069,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wolff Wiese Magana LLC purchased a new stake in Ormat Technologies in the 4th quarter valued at about $33,000. Jones Financial Companies Lllp raised its holdings in Ormat Technologies by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company's stock valued at $35,000 after buying an additional 113 shares during the period. Ameriflex Group Inc. raised its holdings in Ormat Technologies by 1,100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 360 shares of the energy company's stock valued at $35,000 after buying an additional 330 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Ormat Technologies by 251.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company's stock valued at $44,000 after buying an additional 374 shares during the period. Finally, USA Financial Formulas purchased a new stake in Ormat Technologies in the 4th quarter valued at about $51,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ORA shares. Citigroup lifted 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. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Ormat Technologies in a research report on Tuesday. TD Cowen dropped their target price 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. Robert W. Baird dropped their target price on Ormat Technologies from $143.00 to $130.00 and set an "outperform" rating for the company in a research report on Friday, February 27th. Finally, Barclays lifted their target price on Ormat Technologies from $108.00 to $123.00 and gave the company an "overweight" rating in a research report on Monday, March 2nd. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Ormat Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $128.64.

Insiders Place Their Bets

In related news, insider Jessica Woelfel sold 2,359 shares of the business's stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $105.16, for a total transaction of $248,072.44. Following the completion of the sale, the insider owned 3,433 shares in the company, valued at $361,014.28. The trade was a 40.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 3,364 shares of company stock worth $353,621 in the last three months. 0.56% of the stock is owned by insiders.

Ormat Technologies Price Performance

ORA stock opened at $113.41 on Friday. The business has a 50 day moving average price of $111.74 and a 200 day moving average price of $113.01. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 56.42, a PEG ratio of 4.98 and a beta of 0.80. Ormat Technologies, Inc. has a fifty-two week low of $70.42 and a fifty-two week high of $132.58. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 0.79.

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

Ormat Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, March 10th. This represents a $0.48 annualized dividend and a yield of 0.4%. Ormat Technologies's payout ratio is presently 23.88%.

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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