Legal & General Group Plc Sells 815,059 Shares of Enlight Renewable Energy Ltd. $ENLT

Key Points

• Legal & General Group Plc cut its stake in Enlight Renewable Energy by 42.4% in the fourth quarter, selling 815,059 shares and leaving it with 1,105,829 shares valued at about $50.2 million.
• The company got a major boost when it signed a 200 MW solar power purchase agreement with Google for Oklahoma data center operations, which improves revenue visibility and expands its U.S. footprint.
• Analyst sentiment is mixed but improving, with UBS raising its price target to $123 from $105 and maintaining a buy rating, while the stock also faces some caution from recent insider selling.

Legal & General Group Plc decreased its position in Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Free Report) by 42.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,105,829 shares of the company's stock after selling 815,059 shares during the quarter. Legal & General Group Plc's holdings in Enlight Renewable Energy were worth $50,239,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd lifted its holdings in Enlight Renewable Energy by 2.1% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,247,031 shares of the company's stock valued at $253,986,000 after acquiring an additional 173,009 shares during the period. Y.D. More Investments Ltd lifted its holdings in Enlight Renewable Energy by 4.5% in the fourth quarter. Y.D. More Investments Ltd now owns 5,837,263 shares of the company's stock valued at $264,965,000 after acquiring an additional 252,446 shares during the period. Vanguard Group Inc. lifted its holdings in Enlight Renewable Energy by 11.3% in the fourth quarter. Vanguard Group Inc. now owns 4,950,674 shares of the company's stock valued at $225,058,000 after acquiring an additional 503,060 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Enlight Renewable Energy by 9.7% in the second quarter. Canada Pension Plan Investment Board now owns 279,789 shares of the company's stock valued at $6,348,000 after acquiring an additional 24,653 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Enlight Renewable Energy by 269.0% in the third quarter. First Trust Advisors LP now owns 260,192 shares of the company's stock valued at $8,006,000 after acquiring an additional 189,676 shares during the period. Institutional investors own 38.89% of the company's stock.

Key Stories Impacting Enlight Renewable Energy

Here are the key news stories impacting Enlight Renewable Energy this week:

• Positive Sentiment: UBS Group raised its price target on Enlight Renewable Energy (ENLT) to $123 from $105 and kept a buy rating, reinforcing bullish sentiment around the stock’s growth outlook. UBS Raises Price Target on Enlight Renewable Energy
• Positive Sentiment: The company recently signed a 200 MW solar power purchase agreement with Google for data center operations in Oklahoma, a high-profile contract that improves revenue visibility and expands its U.S. presence. Google PPA announcement
• Neutral Sentiment: Recent analyst commentary remains mixed overall, with some firms bullish and others cautious, but the higher target from UBS adds to the improving sentiment profile. Analyst coverage summary
• Negative Sentiment: Multiple insiders have sold shares in recent days, including Director Yitzhak Betzalel and SVP Meron Carr, which may make some investors cautious even as the stock price has risen sharply. Insider sales report

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Weiss Ratings reissued a "hold (c)" rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. JPMorgan Chase & Co. increased their target price on Enlight Renewable Energy from $57.00 to $68.00 and gave the company an "underweight" rating in a report on Wednesday, May 6th. Mizuho set a $37.00 target price on Enlight Renewable Energy in a report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft set a $65.00 target price on Enlight Renewable Energy and gave the company a "hold" rating in a report on Thursday, April 9th. Finally, Barclays reissued an "overweight" rating on shares of Enlight Renewable Energy in a report on Wednesday, February 18th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Enlight Renewable Energy presently has a consensus rating of "Hold" and an average target price of $63.17.

Insider Transactions at Enlight Renewable Energy

In other news, insider Marko Liposcak sold 6,402 shares of the firm's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $92.53, for a total value of $592,377.06. Following the transaction, the insider owned 32,539 shares of the company's stock, valued at $3,010,833.67. This trade represents a 16.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Yair Seroussi sold 22,505 shares of the firm's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $90.63, for a total value of $2,039,628.15. Following the completion of the transaction, the insider directly owned 14,233 shares in the company, valued at $1,289,936.79. This trade represents a 61.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 285,792 shares of company stock valued at $26,913,850.

Enlight Renewable Energy Stock Up 4.6%

NASDAQ ENLT opened at $107.42 on Friday. The stock's 50-day moving average price is $82.97 and its 200-day moving average price is $63.64. 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 Ltd. has a 52 week low of $18.22 and a 52 week high of $108.65. The company has a market capitalization of $12.74 billion, a P/E ratio of 249.82, a price-to-earnings-growth ratio of 37.21 and a beta of 1.51.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.16 EPS for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The firm had revenue of $156.49 million for the quarter. On average, equities research analysts predict that Enlight Renewable Energy Ltd. will post 0.29 earnings per share for the current year.

Enlight Renewable Energy 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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