Migdal Insurance & Financial Holdings Ltd. Decreases Stock Position in Ormat Technologies, Inc. $ORA

Migdal Insurance & Financial Holdings Ltd. cut its stake in Ormat Technologies, Inc. (NYSE:ORA) by 30.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 346,526 shares of the energy company’s stock after selling 150,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Ormat Technologies were worth $33,353,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Curio Wealth LLC lifted its holdings in shares of Ormat Technologies by 29,200.0% in the 2nd quarter. Curio Wealth LLC now owns 293 shares of the energy company’s stock worth $25,000 after acquiring an additional 292 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Ormat Technologies by 251.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company’s stock worth $44,000 after purchasing an additional 374 shares during the period. GAMMA Investing LLC lifted its stake in Ormat Technologies by 57.4% in the second quarter. GAMMA Investing LLC now owns 886 shares of the energy company’s stock worth $74,000 after purchasing an additional 323 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Ormat Technologies by 20.3% during the second quarter. UMB Bank n.a. now owns 1,059 shares of the energy company’s stock valued at $89,000 after buying an additional 179 shares during the period. Finally, CWM LLC grew its stake in shares of Ormat Technologies by 17.1% during the third quarter. CWM LLC now owns 1,098 shares of the energy company’s stock valued at $106,000 after buying an additional 160 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Analyst Upgrades and Downgrades

ORA has been the subject of a number of research analyst reports. Roth Capital reissued a “buy” rating on shares of Ormat Technologies in a research note on Tuesday, January 13th. Cowen upgraded Ormat Technologies from a “hold” rating to a “buy” rating in a research note on Friday, January 9th. Oppenheimer reissued an “outperform” rating and set a $125.00 target price on shares of Ormat Technologies in a research note on Wednesday, November 5th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $125.00 price target on shares of Ormat Technologies in a research note on Monday, November 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Ormat Technologies from $99.00 to $111.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Ormat Technologies presently has an average rating of “Moderate Buy” and an average target price of $125.22.

Insiders Place Their Bets

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 transaction of $2,025,583.56. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jessica Woelfel sold 721 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $115.00, for a total value of $82,915.00. Following the completion of the sale, the insider owned 3,433 shares of the company’s stock, valued at approximately $394,795. This trade represents a 17.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 40,860 shares of company stock worth $4,601,530 over the last quarter. Company insiders own 0.56% of the company’s stock.

Ormat Technologies Stock Down 0.3%

Shares of Ormat Technologies stock opened at $117.58 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.77 and a debt-to-equity ratio of 0.79. The company has a market cap of $7.15 billion, a P/E ratio of 53.94, a PEG ratio of 4.71 and a beta of 0.71. The firm’s 50 day moving average price is $112.76 and its 200-day moving average price is $101.86. Ormat Technologies, Inc. has a 52-week low of $61.58 and a 52-week high of $124.11.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Monday, November 3rd. The energy company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The company had revenue of $249.73 million during the quarter, compared to analysts’ expectations of $235.03 million. Ormat Technologies had a net margin of 14.12% and a return on equity of 5.35%. Ormat Technologies’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 earnings per share. On average, sell-side analysts predict that Ormat Technologies, Inc. will post 1.94 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.4%. Ormat Technologies’s dividend payout ratio (DPR) is presently 22.02%.

Ormat Technologies 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.