Clal Insurance Enterprises Holdings Ltd Cuts Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

Clal Insurance Enterprises Holdings Ltd lessened its stake in Ormat Technologies, Inc. (NYSE:ORA) by 1.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,248,499 shares of the energy company’s stock after selling 33,700 shares during the quarter. Ormat Technologies makes up about 1.4% of Clal Insurance Enterprises Holdings Ltd’s portfolio, making the stock its 21st biggest holding. Clal Insurance Enterprises Holdings Ltd owned 3.72% of Ormat Technologies worth $152,546,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ORA. Blue Trust Inc. increased its holdings in Ormat Technologies by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock worth $26,000 after acquiring an additional 229 shares in the last quarter. Versant Capital Management Inc boosted its stake in Ormat Technologies by 132.4% during the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock worth $27,000 after purchasing an additional 229 shares during the last quarter. Mendota Financial Group LLC acquired a new stake in Ormat Technologies during the 4th quarter worth $98,000. Perigon Wealth Management LLC boosted its stake in Ormat Technologies by 16.4% during the 4th quarter. Perigon Wealth Management LLC now owns 3,162 shares of the energy company’s stock worth $214,000 after purchasing an additional 446 shares during the last quarter. Finally, Empowered Funds LLC acquired a new stake in Ormat Technologies during the 4th quarter worth $265,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director David Granot sold 1,256 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $82.00, for a total value of $102,992.00. Following the transaction, the director now owns 3,576 shares of the company’s stock, valued at $293,232. This represents a 25.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Corp Orix sold 3,700,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $75.38, for a total transaction of $278,906,000.00. Following the completion of the transaction, the insider now directly owns 2,976,077 shares in the company, valued at $224,336,684.26. The trade was a 55.42 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Ormat Technologies Trading Up 1.3 %

Shares of ORA stock opened at $69.85 on Friday. The company’s 50-day moving average price is $66.49 and its 200-day moving average price is $73.20. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 35.64, a PEG ratio of 3.18 and a beta of 0.57. Ormat Technologies, Inc. has a twelve month low of $59.41 and a twelve month high of $84.30.

Ormat Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be given a $0.12 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.69%. Ormat Technologies’s payout ratio is currently 23.53%.

Wall Street Analysts Forecast Growth

ORA has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday. Piper Sandler initiated coverage on shares of Ormat Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $78.00 target price on the stock. Jefferies Financial Group raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $73.00 to $78.00 in a research note on Thursday, February 20th. Roth Mkm reaffirmed a “buy” rating and set a $92.00 target price (up previously from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Finally, Oppenheimer lifted their target price on shares of Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.88.

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.