Ormat Technologies, Inc. (NYSE:ORA) Shares Sold by Clal Insurance Enterprises Holdings Ltd

Clal Insurance Enterprises Holdings Ltd lowered its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 0.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,282,199 shares of the energy company’s stock after selling 9,315 shares during the period. Ormat Technologies makes up 1.6% of Clal Insurance Enterprises Holdings Ltd’s holdings, making the stock its 20th largest position. Clal Insurance Enterprises Holdings Ltd owned approximately 3.78% of Ormat Technologies worth $175,605,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Sei Investments Co. lifted its holdings in Ormat Technologies by 10.4% in the first quarter. Sei Investments Co. now owns 17,197 shares of the energy company’s stock worth $1,138,000 after purchasing an additional 1,615 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Ormat Technologies by 1.2% during the first quarter. Vanguard Group Inc. now owns 5,388,571 shares of the energy company’s stock valued at $356,670,000 after acquiring an additional 63,943 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in shares of Ormat Technologies by 1.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 55,555 shares of the energy company’s stock valued at $3,676,000 after purchasing an additional 1,007 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of Ormat Technologies in the 1st quarter worth about $50,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Ormat Technologies during the 1st quarter worth about $309,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Insiders Place Their Bets

In related news, Director Byron G. Wong sold 1,266 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.98, for a total transaction of $94,924.68. Following the transaction, the director now directly owns 6,906 shares of the company’s stock, valued at approximately $517,811.88. The trade was a 15.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

ORA has been the topic of several research analyst reports. Oppenheimer increased their target price on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Roth Mkm reaffirmed a “buy” rating and issued a $92.00 price objective (up from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $84.50.

Ormat Technologies Price Performance

Ormat Technologies stock opened at $80.74 on Friday. The firm has a market capitalization of $4.88 billion, a P/E ratio of 41.19, a PEG ratio of 4.14 and a beta of 0.53. The business has a 50-day moving average of $78.16 and a 200-day moving average of $75.01. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. Ormat Technologies, Inc. has a 1 year low of $59.41 and a 1 year high of $84.30.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The firm had revenue of $211.80 million during the quarter, compared to analyst estimates of $215.53 million. During the same period in the prior year, the business earned $0.47 EPS. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities analysts anticipate that Ormat Technologies, Inc. will post 1.93 EPS for the current year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Wednesday, November 20th. Ormat Technologies’s payout ratio is presently 24.49%.

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.