Ormat Technologies, Inc. $ORA Position Reduced by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. lessened its position in Ormat Technologies, Inc. (NYSE:ORA) by 4.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,151,526 shares of the energy company’s stock after selling 50,000 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned about 1.87% of Ormat Technologies worth $105,353,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in Ormat Technologies by 0.5% during the third quarter. Russell Investments Group Ltd. now owns 115,600 shares of the energy company’s stock worth $10,576,000 after purchasing an additional 569 shares during the period. Van Berkom & Associates Inc. raised its stake in Ormat Technologies by 47.2% in the third quarter. Van Berkom & Associates Inc. now owns 706,446 shares of the energy company’s stock valued at $64,633,000 after buying an additional 226,654 shares during the period. M&G PLC raised its stake in Ormat Technologies by 35.9% in the third quarter. M&G PLC now owns 21,507 shares of the energy company’s stock valued at $1,957,000 after buying an additional 5,687 shares during the period. Fulcrum Asset Management LLP bought a new stake in Ormat Technologies in the third quarter valued at approximately $87,000. Finally, Ethic Inc. lifted its position in shares of Ormat Technologies by 22.8% in the third quarter. Ethic Inc. now owns 14,764 shares of the energy company’s stock valued at $1,351,000 after buying an additional 2,743 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ORA has been the topic of a number of recent analyst reports. Royal Bank Of Canada reissued an “outperform” rating and set a $130.00 target price on shares of Ormat Technologies in a report on Wednesday, September 9th. Jefferies Financial Group reaffirmed a “hold” rating and set a $117.00 price target on shares of Ormat Technologies in a report on Wednesday, September 9th. Morgan Stanley assumed coverage on Ormat Technologies in a report on Thursday, October 29th. They set an “overweight” rating and a $123.00 price target for the company. Wall Street Zen raised shares of Ormat Technologies from a “strong sell” rating to a “sell” rating in a research report on Sunday, October 11th. Finally, Zacks Research raised Ormat Technologies from a “strong sell” rating to a “hold” rating in a research report on Monday, November 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Ormat Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $124.15.

Ormat Technologies Stock Performance

NYSE ORA traded down $0.17 during trading on Friday, reaching $90.28. The company’s stock had a trading volume of 710,433 shares, compared to its average volume of 881,697. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 41.99, a price-to-earnings-growth ratio of 3.14 and a beta of 0.89. Ormat Technologies, Inc. has a 12 month low of $85.77 and a 12 month high of $146.39. The firm has a 50 day moving average price of $92.51 and a 200 day moving average price of $110.15.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Wednesday, November 4th. The energy company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.33 by $0.23. Ormat Technologies had a net margin of 11.07% and a return on equity of 6.90%. The company had revenue of $275.12 million for the quarter, compared to analysts’ expectations of $248.36 million. During the same period last year, the firm earned $0.41 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities analysts anticipate that Ormat Technologies, Inc. will post 2.88 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 18th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. Ormat Technologies’s dividend payout ratio is currently 22.33%.

Ormat Technologies Profile

Ormat Technologies is a renewable energy company that develops, owns and operates geothermal power plants and recovered energy generation facilities. It also provides equipment and services for geothermal projects, including its Ormat Energy Converter technology, which converts heat from geothermal resources and industrial processes into electricity. The company’s activities include project development and engineering, construction, plant operation and maintenance, and energy storage. Its geothermal and energy storage operations serve markets in the United States and internationally, including countries in Central America, the Caribbean, Africa and Asia.