Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management lowered its position in Ormat Technologies, Inc. (NYSE:ORA) by 6.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 679,326 shares of the energy company’s stock after selling 49,000 shares during the period. Ormat Technologies makes up 2.6% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management’s investment portfolio, making the stock its 4th largest position. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management owned about 1.37% of Ormat Technologies worth $39,863,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. increased its stake in Ormat Technologies by 2.2% in the second quarter. Sei Investments Co. now owns 2,266 shares of the energy company’s stock valued at $133,000 after buying an additional 49 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its stake in Ormat Technologies by 0.5% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 11,131 shares of the energy company’s stock valued at $633,000 after buying an additional 60 shares during the last quarter. Capital One National Association increased its stake in Ormat Technologies by 1.0% in the first quarter. Capital One National Association now owns 11,777 shares of the energy company’s stock valued at $672,000 after buying an additional 117 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Ormat Technologies by 1.3% in the second quarter. Nisa Investment Advisors LLC now owns 11,350 shares of the energy company’s stock valued at $670,000 after buying an additional 150 shares during the last quarter. Finally, Navellier & Associates Inc increased its stake in Ormat Technologies by 2.3% in the first quarter. Navellier & Associates Inc now owns 8,090 shares of the energy company’s stock valued at $462,000 after buying an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 45.96% of the company’s stock.

Ormat Technologies, Inc. (NYSE ORA) opened at 57.97 on Friday. The company has a 50-day moving average price of $58.85 and a 200 day moving average price of $57.52. Ormat Technologies, Inc. has a 52-week low of $45.30 and a 52-week high of $61.49. The company has a market capitalization of $2.88 billion, a PE ratio of 29.25 and a beta of 1.20.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data on Thursday, August 3rd. The energy company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The firm had revenue of $179.36 million for the quarter, compared to analyst estimates of $169.80 million. Ormat Technologies had a net margin of 15.36% and a return on equity of 10.39%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 earnings per share. Equities research analysts anticipate that Ormat Technologies, Inc. will post $2.32 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Friday, August 11th. Ormat Technologies’s dividend payout ratio (DPR) is presently 14.61%.

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Several research firms recently weighed in on ORA. Cowen and Company set a $67.00 price target on Ormat Technologies and gave the stock a “buy” rating in a research note on Monday, July 17th. J P Morgan Chase & Co upgraded Ormat Technologies from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $65.00 to $71.00 in a research note on Wednesday, June 7th. BidaskClub upgraded Ormat Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Barclays PLC upgraded Ormat Technologies from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $54.00 to $59.00 in a research note on Friday, May 26th. Finally, Zacks Investment Research upgraded Ormat Technologies from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Friday, May 12th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $65.25.

In other news, SVP Etty Rosner sold 879 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $56.39, for a total transaction of $49,566.81. Following the sale, the senior vice president now directly owns 879 shares of the company’s stock, valued at $49,566.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Iv 2007 Ltd. Fimi sold 7,202,646 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $57.00, for a total transaction of $410,550,822.00. The disclosure for this sale can be found here. Insiders have sold 11,083,033 shares of company stock worth $631,792,760 over the last three months. Corporate insiders own 22.97% of the company’s stock.

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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