Clal Insurance Enterprises Holdings Ltd Sells 77,000 Shares of Ormat Technologies, Inc. $ORA

Clal Insurance Enterprises Holdings Ltd reduced its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 3.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,171,499 shares of the energy company’s stock after selling 77,000 shares during the quarter. Ormat Technologies makes up approximately 1.8% of Clal Insurance Enterprises Holdings Ltd’s holdings, making the stock its 15th biggest position. Clal Insurance Enterprises Holdings Ltd owned approximately 3.58% of Ormat Technologies worth $181,576,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ORA. New York State Common Retirement Fund grew its position in Ormat Technologies by 9.5% in the first quarter. New York State Common Retirement Fund now owns 18,356 shares of the energy company’s stock valued at $1,299,000 after purchasing an additional 1,600 shares in the last quarter. CWM LLC increased its position in shares of Ormat Technologies by 294.2% in the first quarter. CWM LLC now owns 887 shares of the energy company’s stock valued at $63,000 after acquiring an additional 662 shares during the last quarter. Signaturefd LLC increased its position in shares of Ormat Technologies by 60.6% in the first quarter. Signaturefd LLC now owns 890 shares of the energy company’s stock valued at $63,000 after acquiring an additional 336 shares during the last quarter. Victory Capital Management Inc. boosted its position in Ormat Technologies by 1.8% during the first quarter. Victory Capital Management Inc. now owns 19,245 shares of the energy company’s stock valued at $1,362,000 after purchasing an additional 349 shares during the last quarter. Finally, KLP Kapitalforvaltning AS boosted its position in Ormat Technologies by 3.6% during the first quarter. KLP Kapitalforvaltning AS now owns 91,100 shares of the energy company’s stock valued at $6,447,000 after purchasing an additional 3,200 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ormat Technologies

In related news, Director Isaac Angel sold 18,018 shares of the business’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $112.42, for a total value of $2,025,583.56. Following the completion of the sale, the director directly owned 29,650 shares in the company, valued at $3,333,253. The trade was a 37.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Dafna Sharir sold 981 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $96.70, for a total value of $94,862.70. Following the completion of the transaction, the director directly owned 2,257 shares in the company, valued at approximately $218,251.90. This represents a 30.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 81,251 shares of company stock worth $8,413,932 in the last 90 days. Company insiders own 0.56% of the company’s stock.

Ormat Technologies Price Performance

NYSE:ORA opened at $107.70 on Wednesday. The company has a market cap of $6.55 billion, a P/E ratio of 50.09, a P/E/G ratio of 4.84 and a beta of 0.77. The firm’s fifty day moving average price is $103.17 and its two-hundred day moving average price is $90.66. Ormat Technologies, Inc. has a one year low of $61.58 and a one year high of $115.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.70 and a quick ratio of 0.64.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Monday, November 3rd. The energy company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.37 by $0.04. Ormat Technologies had a net margin of 14.49% and a return on equity of 5.47%. The business had revenue of $249.73 million during the quarter, compared to the consensus estimate of $235.03 million. During the same quarter in the previous year, the firm posted $0.36 EPS. Ormat Technologies’s revenue was up 17.9% compared to the same quarter last year. Ormat Technologies has set its FY 2025 guidance at EPS. Equities analysts expect that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a $0.12 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. Ormat Technologies’s dividend payout ratio is presently 22.02%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ORA shares. Oppenheimer reiterated an “outperform” rating and set a $125.00 price objective on shares of Ormat Technologies in a research note on Wednesday, November 5th. Jefferies Financial Group upped their price target on shares of Ormat Technologies from $97.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. TD Cowen increased their price target on shares of Ormat Technologies from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Wednesday, November 5th. JPMorgan Chase & Co. boosted their price objective on shares of Ormat Technologies from $99.00 to $111.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Finally, Barclays upped their target price on shares of Ormat Technologies from $89.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Ormat Technologies has an average rating of “Moderate Buy” and a consensus target price of $115.44.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.