Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management Grows Stake in Ormat Technologies, Inc. (NYSE:ORA)

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management increased its stake in Ormat Technologies, Inc. (NYSE:ORA - Free Report) by 57.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,937 shares of the energy company's stock after acquiring an additional 81,547 shares during the period. Ormat Technologies makes up about 2.5% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management's holdings, making the stock its 15th largest holding. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management owned about 0.37% of Ormat Technologies worth $15,165,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ORA. Inspire Investing LLC grew its stake in shares of Ormat Technologies by 11.0% during the fourth quarter. Inspire Investing LLC now owns 5,914 shares of the energy company's stock worth $400,000 after purchasing an additional 586 shares in the last quarter. Mendota Financial Group LLC purchased a new position in shares of Ormat Technologies in the 4th quarter valued at about $98,000. Versant Capital Management Inc raised its position in shares of 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 acquiring an additional 229 shares in the last quarter. Tidal Investments LLC lifted its stake in Ormat Technologies by 36.8% during the third quarter. Tidal Investments LLC now owns 45,642 shares of the energy company's stock worth $3,512,000 after purchasing an additional 12,272 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Ormat Technologies by 1.8% in the third quarter. Geode Capital Management LLC now owns 1,301,291 shares of the energy company's stock valued at $100,140,000 after purchasing an additional 22,714 shares in the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ormat Technologies

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ORA shares. Oppenheimer boosted their target price on Ormat Technologies from $86.00 to $91.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Jefferies Financial Group began coverage on shares of Ormat Technologies in a research report on Friday, January 10th. They issued a "hold" rating and a $73.00 price target for the company. Piper Sandler started coverage on shares of Ormat Technologies in a research report on Thursday, December 19th. They set a "neutral" rating and a $78.00 price objective on the stock. Finally, Roth Mkm restated a "buy" rating and issued a $92.00 price objective (up from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $82.25.

Ormat Technologies Price Performance

Shares of Ormat Technologies stock traded down $0.27 on Friday, hitting $65.25. The company's stock had a trading volume of 466,617 shares, compared to its average volume of 574,748. The company has a market capitalization of $3.95 billion, a P/E ratio of 33.29, a price-to-earnings-growth ratio of 3.01 and a beta of 0.57. Ormat Technologies, Inc. has a 52-week low of $59.41 and a 52-week high of $84.30. The firm has a fifty day moving average price of $72.85 and a 200-day moving average price of $74.87. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73.

Ormat Technologies (NYSE:ORA - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The energy company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.31 by $0.05. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The business had revenue of $211.80 million for the quarter, compared to analyst estimates of $215.53 million. During the same period in the prior year, the business earned $0.47 earnings per share. The company's quarterly revenue was up 1.8% on a year-over-year basis. On average, equities research analysts expect that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th were given a $0.12 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.74%. Ormat Technologies's dividend payout ratio is currently 24.49%.

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.