Migdal Insurance & Financial Holdings Ltd. Has $59.39 Million Stake in Ormat Technologies, Inc. (ORA)

Migdal Insurance & Financial Holdings Ltd. grew its position in Ormat Technologies, Inc. (NYSE:ORA) by 1.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,076,959 shares of the energy company’s stock after buying an additional 15,857 shares during the period. Ormat Technologies accounts for about 1.4% of Migdal Insurance & Financial Holdings Ltd.’s portfolio, making the stock its 17th largest position. Migdal Insurance & Financial Holdings Ltd. owned approximately 2.12% of Ormat Technologies worth $59,394,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Clean Yield Group purchased a new position in Ormat Technologies during the 4th quarter worth approximately $51,000. Strs Ohio purchased a new position in Ormat Technologies during the 4th quarter worth approximately $52,000. Private Capital Group LLC raised its position in Ormat Technologies by 28.2% during the 1st quarter. Private Capital Group LLC now owns 941 shares of the energy company’s stock worth $52,000 after buying an additional 207 shares during the last quarter. Psagot Investment House Ltd. increased its holdings in shares of Ormat Technologies by 16.5% during the 4th quarter. Psagot Investment House Ltd. now owns 2,303 shares of the energy company’s stock valued at $120,000 after purchasing an additional 326 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Ormat Technologies by 15.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,775 shares of the energy company’s stock valued at $197,000 after purchasing an additional 506 shares in the last quarter. Institutional investors and hedge funds own 74.87% of the company’s stock.

Several equities analysts have recently weighed in on ORA shares. ValuEngine lowered shares of Ormat Technologies from a “buy” rating to a “hold” rating in a report on Monday, February 4th. JPMorgan Chase & Co. lowered shares of Ormat Technologies from an “overweight” rating to a “neutral” rating and set a $60.00 target price for the company. in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $63.33.

Shares of NYSE ORA traded up $0.39 during trading on Friday, hitting $59.34. 103,300 shares of the company were exchanged, compared to its average volume of 141,605. Ormat Technologies, Inc. has a 12-month low of $45.79 and a 12-month high of $61.60. The company has a quick ratio of 1.41, a current ratio of 1.57 and a debt-to-equity ratio of 0.78. The firm has a market cap of $3.01 billion, a PE ratio of 28.53, a P/E/G ratio of 2.83 and a beta of 1.27.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Monday, May 6th. The energy company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. The firm had revenue of $199.04 million for the quarter, compared to analyst estimates of $183.62 million. Ormat Technologies had a net margin of 7.41% and a return on equity of 5.86%. Ormat Technologies’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 EPS. Research analysts expect that Ormat Technologies, Inc. will post 1.92 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, May 20th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $0.44 annualized dividend and a yield of 0.74%. Ormat Technologies’s dividend payout ratio (DPR) is currently 21.15%.

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Ormat Technologies Profile

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, New Zealand, and internationally. The company operates through three segments: Electricity, Product, and Other. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity.

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Institutional Ownership by Quarter for Ormat Technologies (NYSE:ORA)

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