181,665 Shares in Ormat Technologies, Inc. $ORA Acquired by Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management bought a new position in Ormat Technologies, Inc. (NYSE:ORA) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 181,665 shares of the energy company’s stock, valued at approximately $19,783,000. Ormat Technologies accounts for about 2.6% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management’s investment portfolio, making the stock its 11th largest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new position in Ormat Technologies during the 4th quarter valued at $26,000. Main Street Group LTD bought a new stake in shares of Ormat Technologies in the 1st quarter worth $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Ormat Technologies in the 4th quarter worth $31,000. Los Angeles Capital Management LLC acquired a new stake in shares of Ormat Technologies in the fourth quarter valued at $32,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Ormat Technologies by 245.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company’s stock valued at $33,000 after buying an additional 211 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Michal Marom sold 3,080 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $130.97, for a total value of $403,387.60. Following the completion of the sale, the director owned 1,766 shares in the company, valued at $231,293.02. This represents a 63.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stanley Stern sold 250 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $138.42, for a total value of $34,605.00. Following the completion of the sale, the director directly owned 5,800 shares of the company’s stock, valued at approximately $802,836. This trade represents a 4.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 6,849 shares of company stock worth $908,019 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $112.00 target price on shares of Ormat Technologies in a research note on Monday, August 10th. Barclays dropped their price target on shares of Ormat Technologies from $127.00 to $122.00 and set an “overweight” rating on the stock in a research report on Monday, August 10th. UBS Group upped their price target on shares of Ormat Technologies from $143.00 to $152.00 and gave the company a “buy” rating in a report on Friday, May 8th. Oppenheimer reduced their price objective on shares of Ormat Technologies from $144.00 to $141.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. Finally, Wolfe Research initiated coverage on shares of Ormat Technologies in a research note on Monday, June 8th. They issued a “peer perform” rating on the stock. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $130.83.

Ormat Technologies Stock Performance

Ormat Technologies stock opened at $114.83 on Friday. Ormat Technologies, Inc. has a fifty-two week low of $87.33 and a fifty-two week high of $146.39. The firm’s 50 day simple moving average is $113.62 and its 200-day simple moving average is $117.24. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.05 and a quick ratio of 1.00. The company has a market cap of $7.06 billion, a P/E ratio of 56.57, a price-to-earnings-growth ratio of 4.55 and a beta of 0.90.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.26 by $0.24. Ormat Technologies had a net margin of 10.66% and a return on equity of 6.61%. The business had revenue of $258.76 million during the quarter, compared to the consensus estimate of $240.03 million. During the same quarter in the prior year, the firm earned $0.48 EPS. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, equities research analysts predict that Ormat Technologies, Inc. will post 2.52 EPS for the current year.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, August 19th. Ormat Technologies’s payout ratio is 23.65%.

Ormat Technologies Company 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.