SCHEDULE 13G: Migdal Insurance & Financial Holdings Discloses 4.37% Passive Stake in Ormat Technologies
Beneficial Ownership Report (Schedule 13G)
Migdal Insurance & Financial Holdings Ltd. and its subsidiaries have filed a Schedule 13G, reporting a passive beneficial ownership of 4.37% in Ormat Technologies, Inc. as of December 31, 2024.
Summary
- Migdal Insurance & Financial Holdings Ltd., an Israeli public company, along with its direct and indirect subsidiaries, has filed a Schedule 13G regarding its beneficial ownership in Ormat Technologies, Inc.
- As of December 31, 2024, the aggregate beneficial ownership by Migdal Insurance & Financial Holdings Ltd. and its subsidiaries amounts to 2,452,387 Ordinary Shares of Ormat Technologies, Inc.
- This aggregate amount represents 4.37% of the class of Ordinary Shares.
- The filing indicates that Migdal Insurance & Financial Holdings Ltd. holds its shares via its direct or indirect subsidiaries.
- Migdal Insurance Company Ltd. beneficially owns 9,750 shares, representing 0% of the class.
- Migdal Sal Domestic Equities beneficially owns 1,880,998 shares, representing 3.4% of the class, held for members of the public through provident funds, pension funds, and insurance policies.
- Migdal Mutual Funds Ltd. beneficially owns 561,639 shares, representing 1% of the class, held for members of the public through mutual funds.
- All reporting persons have sole voting and sole dispositive power over their respective beneficially owned shares, with no shared powers.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would inherently convey positive or negative sentiment regarding the issuer's performance or outlook. It is a neutral, compliance-driven filing.
Future Outlook
NA
Management Comments
- Migdal Insurance & Financial Holdings Ltd. states that all its holdings are via its direct or indirect subsidiaries.
- Migdal Sal Domestic Equities and Migdal Mutual Funds Ltd. clarify that the shares are held for members of the public through various funds and policies they manage, and the Schedule 13G should not be construed as an admission that they are the beneficial owners thereof.
Industry Context
This filing is a routine disclosure by a qualified institutional investor, Migdal Insurance & Financial Holdings Ltd., indicating a passive investment stake in Ormat Technologies, Inc. It reflects a standard portfolio allocation by a large financial institution.
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional investor's passive stake in the company, confirming a notable level of institutional interest.
Key Dates
| Date | Description |
|---|---|
| 12/31/2024 | Date of event which requires filing of this statement (reporting period end date). |
| 02/13/2025 | Signature date for Migdal Insurance & Financial Holdings Ltd., Migdal Insurance Company Ltd., and Migdal Sal Domestic Equities. |
| 02/13/2025 | Signature date for Migdal Mutual Funds Ltd. |
Keywords
Ormat Technologies, Migdal Insurance & Financial Holdings, Schedule 13G, Beneficial Ownership, SEC Filing, Ordinary Shares, Institutional Investor, Passive Investment
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