Amundi Grows Position in Enlight Renewable Energy Ltd. $ENLT

Key Points

• Institutional ownership increased: Amundi raised its Enlight Renewable Energy stake by 13.8% to 248,834 shares, while several other institutions also added shares. Institutional investors now own 38.89% of the company.
• Insiders have been selling: Company insiders sold 313,597 shares worth approximately $29.8 million over the past three months, including sales by Chairman Gilad Yavetz and Vice President Ayelet Cohen.
• Analyst sentiment is mixed: Ratings range from Strong Buy to Sell, resulting in a consensus “Hold” rating and an average price target of $75. The stock recently traded at $90.54, with quarterly revenue of $166 million and earnings of $0.20 per share.

Amundi lifted its holdings in Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Free Report) by 13.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 248,834 shares of the company's stock after buying an additional 30,126 shares during the period. Amundi owned about 0.21% of Enlight Renewable Energy worth $16,985,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Enlight Renewable Energy by 18.2% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 11,688,077 shares of the company's stock valued at $774,113,000 after buying an additional 1,797,936 shares during the period. Vanguard Group Inc. lifted its position in shares of Enlight Renewable Energy by 11.3% in the 4th quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company's stock worth $225,058,000 after purchasing an additional 503,060 shares during the period. Legal & General Group Plc boosted its position in Enlight Renewable Energy by 2.8% during the 3rd quarter. Legal & General Group Plc now owns 1,920,888 shares of the company's stock valued at $59,253,000 after acquiring an additional 53,103 shares in the last quarter. Invesco Ltd. grew its stake in Enlight Renewable Energy by 19.0% in the fourth quarter. Invesco Ltd. now owns 1,468,914 shares of the company's stock valued at $66,777,000 after purchasing an additional 234,306 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Enlight Renewable Energy by 68.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 995,347 shares of the company's stock worth $66,126,000 after buying an additional 404,304 shares during the last quarter. 38.89% of the stock is currently owned by institutional investors.

Insider Activity

In other Enlight Renewable Energy news, Chairman Gilad Yavetz sold 100,000 shares of the company's stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $91.78, for a total transaction of $9,178,000.00. Following the sale, the chairman owned 846,436 shares in the company, valued at $77,685,896.08. This represents a 10.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Israeli Ayelet Cohen sold 10,123 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $108.50, for a total transaction of $1,098,345.50. Following the completion of the sale, the vice president directly owned 20,974 shares in the company, valued at approximately $2,275,679. This trade represents a 32.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 313,597 shares of company stock worth $29,830,515 over the last three months.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ENLT. UBS Group decreased their price target on Enlight Renewable Energy from $123.00 to $115.00 and set a "buy" rating for the company in a research note on Tuesday, July 7th. JPMorgan Chase & Co. increased their price target on Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an "underweight" rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of Enlight Renewable Energy from a "sell" rating to a "hold" rating in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft set a $65.00 price target on shares of Enlight Renewable Energy and gave the stock a "hold" rating in a report on Thursday, April 9th. Finally, Truist Financial started coverage on shares of Enlight Renewable Energy in a research report on Monday, July 13th. They issued a "buy" rating and a $106.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Enlight Renewable Energy currently has a consensus rating of "Hold" and an average target price of $75.00.

Enlight Renewable Energy Stock Performance

NASDAQ ENLT opened at $90.54 on Wednesday. The stock has a market cap of $10.74 billion, a PE ratio of 210.56, a P/E/G ratio of 22.45 and a beta of 1.68. Enlight Renewable Energy Ltd. has a twelve month low of $22.95 and a twelve month high of $108.65. The stock has a fifty day simple moving average of $89.99 and a 200-day simple moving average of $79.30. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.68.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The company reported $0.20 EPS for the quarter. The business had revenue of $165.99 million during the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%. Equities analysts anticipate that Enlight Renewable Energy Ltd. will post 0.28 earnings per share for the current year.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd. NASDAQ: ENLT is an independent power producer specializing in the development, financing, construction and operation of renewable energy assets. The company's portfolio encompasses utility-scale solar photovoltaic (PV) farms, onshore wind farms and energy storage facilities. By providing end-to-end project management—from site identification and feasibility studies through engineering procurement and construction (EPC) to long-term operations and maintenance—Enlight seeks to deliver reliable clean power under long-term power purchase agreements (PPAs).

Founded in 2008 and headquartered in Tel Aviv, Enlight has pursued an international growth strategy with operational and development projects in Israel and Western Europe.

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