Clal Insurance Enterprises Holdings Ltd Lowers stake in Ormat Technologies (ORA)

Ormat Technologies (ORA) : Clal Insurance Enterprises Holdings Ltd reduced its stake in Ormat Technologies by 3.01% during the most recent quarter end. The investment management company now holds a total of 2,266,398 shares of Ormat Technologies which is valued at $108,265,832 after selling 70,356 shares in Ormat Technologies , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Ormat Technologies makes up approximately 2.65% of Clal Insurance Enterprises Holdings Ltd’s portfolio.

Other Hedge Funds, Including , State Board Of Administration Of Florida Retirement System reduced its stake in ORA by selling 1,578 shares or 3.49% in the most recent quarter. The Hedge Fund company now holds 43,594 shares of ORA which is valued at $2,085,101. Ormat Technologies makes up approx 0.01% of State Board Of Administration Of Florida Retirement System’s portfolio.California Public Employees Retirement System boosted its stake in ORA in the latest quarter, The investment management firm added 2,700 additional shares and now holds a total of 95,300 shares of Ormat Technologies which is valued at $4,612,520. Ormat Technologies makes up approx 0.01% of California Public Employees Retirement System’s portfolio.

Ormat Technologies opened for trading at $47.67 and hit $48.31 on the upside on Monday, eventually ending the session at $47.9, with a gain of 0.61% or 0.29 points. The heightened volatility saw the trading volume jump to 1,70,599 shares. Company has a market cap of $2,374 M.

On the company’s financial health, Ormat Technologies reported $0.49 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.42. The company had revenue of $159.86 million for the quarter, compared to analysts expectations of $152.88 million. The company’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.

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 various countries including the United States of America Kenya and Guatemala. The company’s equipment manufacturing operations are located in Israel. The Company conducts its business activities in two business segments: Electricity Segment and Product Segment. The Product Segment designs manufactures and sells equipment for geothermal and recovered energy-based electricity generation remote power units and other power generating units and provide services relating to the engineering procurement construction operation and maintenance of geothermal and recovered energy-based power plants. The Company’s customers include Southern California Edison Sierra Pacific Power Company Nevada Power Company HELCO and SCPPA.

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