Clal Insurance Enterprises Holdings Ltd Has $94.55 Million Stake in Ormat Technologies, Inc. (ORA)

Clal Insurance Enterprises Holdings Ltd lowered its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,548,783 shares of the energy company’s stock after selling 36,454 shares during the period. Ormat Technologies accounts for 2.3% of Clal Insurance Enterprises Holdings Ltd’s holdings, making the stock its 14th biggest position. Clal Insurance Enterprises Holdings Ltd owned about 3.10% of Ormat Technologies worth $94,553,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada raised its stake in Ormat Technologies by 1.7% in the 2nd quarter. Royal Bank of Canada now owns 2,008 shares of the energy company’s stock valued at $117,000 after acquiring an additional 34 shares during the period. Creative Planning raised its stake in Ormat Technologies by 12.0% in the 2nd quarter. Creative Planning now owns 2,099 shares of the energy company’s stock valued at $123,000 after acquiring an additional 225 shares during the period. Sei Investments Co. raised its stake in Ormat Technologies by 2.2% in the 2nd quarter. Sei Investments Co. now owns 2,266 shares of the energy company’s stock valued at $133,000 after acquiring an additional 49 shares during the period. Advisor Group Inc. raised its stake in Ormat Technologies by 153.2% in the 2nd quarter. Advisor Group Inc. now owns 2,302 shares of the energy company’s stock valued at $135,000 after acquiring an additional 1,393 shares during the period. Finally, Psagot Investment House Ltd. raised its stake in Ormat Technologies by 1.6% in the 2nd quarter. Psagot Investment House Ltd. now owns 2,661 shares of the energy company’s stock valued at $156,000 after acquiring an additional 43 shares during the period. Institutional investors own 45.82% of the company’s stock.

In other news, EVP Bob Sullivan sold 9,890 shares of the stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $62.89, for a total transaction of $621,982.10. Following the sale, the executive vice president now directly owns 9,890 shares of the company’s stock, valued at approximately $621,982.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Erez Klein sold 24,576 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $59.03, for a total value of $1,450,721.28. Following the sale, the vice president now owns 23,890 shares of the company’s stock, valued at $1,410,226.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,359 shares of company stock worth $5,013,332. 14.74% of the stock is currently owned by insiders.

A number of equities research analysts recently weighed in on ORA shares. Zacks Investment Research upgraded Ormat Technologies from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Tuesday, August 8th. TheStreet cut Ormat Technologies from a “b” rating to a “c+” rating in a research note on Monday, August 14th. Cowen and Company set a $67.00 price target on Ormat Technologies and gave the company a “buy” rating in a research note on Friday, August 18th. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $70.00 price target (up previously from $65.00) on shares of Ormat Technologies in a research note on Wednesday, September 27th. Finally, Roth Capital set a $70.00 price target on Ormat Technologies and gave the company a “buy” rating in a research note on Monday, November 13th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Ormat Technologies currently has a consensus rating of “Buy” and an average price target of $66.88.

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Shares of Ormat Technologies, Inc. (NYSE ORA) traded up $0.59 during midday trading on Thursday, reaching $63.39. The company’s stock had a trading volume of 154,200 shares, compared to its average volume of 181,254. The company has a current ratio of 1.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.65. Ormat Technologies, Inc. has a 52-week low of $46.40 and a 52-week high of $65.91. The firm has a market cap of $3,210.00, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Tuesday, November 7th. The energy company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.06). Ormat Technologies had a net margin of 16.99% and a return on equity of 9.41%. The firm had revenue of $157.20 million during the quarter, compared to analyst estimates of $159.02 million. During the same period in the prior year, the company earned $0.56 earnings per share. The business’s quarterly revenue was down 14.8% compared to the same quarter last year. research analysts expect that Ormat Technologies, Inc. will post 2.21 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.50%. The ex-dividend date is Monday, November 20th. Ormat Technologies’s dividend payout ratio (DPR) is currently 13.73%.

Ormat Technologies Company Profile

Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.

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Institutional Ownership by Quarter for Ormat Technologies (NYSE:ORA)

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