Altshuler Shaham Ltd lifted its position in Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Free Report) by 705.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,712,641 shares of the company's stock after purchasing an additional 4,127,573 shares during the quarter. Enlight Renewable Energy comprises 5.0% of Altshuler Shaham Ltd's holdings, making the stock its 5th largest position. Altshuler Shaham Ltd owned approximately 3.97% of Enlight Renewable Energy worth $311,645,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Enlight Renewable Energy by 18.2% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 11,688,077 shares of the company's stock worth $774,113,000 after acquiring an additional 1,797,936 shares during the period. Y.D. More Investments Ltd grew its position in Enlight Renewable Energy by 4.5% during the 4th quarter. Y.D. More Investments Ltd now owns 5,837,263 shares of the company's stock worth $264,965,000 after purchasing an additional 252,446 shares during the period. Vanguard Group Inc. grew its position in Enlight Renewable Energy by 11.3% during 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 lifted its holdings in shares of Enlight Renewable Energy by 2.8% in the 3rd quarter. Legal & General Group Plc now owns 1,920,888 shares of the company's stock valued at $59,253,000 after buying an additional 53,103 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Enlight Renewable Energy by 19.0% in the fourth quarter. Invesco Ltd. now owns 1,468,914 shares of the company's stock worth $66,777,000 after buying an additional 234,306 shares during the last quarter. Institutional investors and hedge funds own 38.89% of the company's stock.
Insider Activity
In related news, Director Michal Tzuk sold 2,400 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $105.86, for a total value of $254,064.00. Following the completion of the transaction, the director directly owned 2,712 shares of the company's stock, valued at approximately $287,092.32. This represents a 46.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Israeli Ayelet Cohen sold 10,123 shares of the stock in a transaction dated 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 owned 20,974 shares of the company's stock, valued at $2,275,679. This trade represents a 32.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 313,597 shares of company stock valued at $29,830,515 in the last three months.
Enlight Renewable Energy Stock Down 4.9%
ENLT opened at $86.83 on Wednesday. The company has a market cap of $10.30 billion, a PE ratio of 201.93, a price-to-earnings-growth ratio of 24.80 and a beta of 1.66. Enlight Renewable Energy Ltd. has a twelve month low of $22.95 and a twelve month high of $108.65. The company has a 50-day moving average price of $90.88 and a 200 day moving average price of $78.12. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.68.
Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The company had revenue of $156.49 million for the quarter. Sell-side analysts expect that Enlight Renewable Energy Ltd. will post 0.28 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on ENLT shares. Barclays increased their price target on shares of Enlight Renewable Energy from $83.00 to $89.00 and gave the stock an "overweight" rating in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft set a $65.00 target price on shares of Enlight Renewable Energy and gave the stock a "hold" rating in a research note on Thursday, April 9th. Wall Street Zen upgraded Enlight Renewable Energy from a "sell" rating to a "hold" rating in a research report on Monday, July 20th. UBS Group cut 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. Finally, Truist Financial assumed coverage on Enlight Renewable Energy in a report on Monday, July 13th. They issued a "buy" rating and a $106.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $75.00.
Get Our Latest Stock Analysis on ENLT
Enlight Renewable Energy Profile
(
Free Report)
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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