Lazard Asset Management LLC Acquires New Shares in Enlight Renewable Energy Ltd. $ENLT

Lazard Asset Management LLC acquired a new position in shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 34,771 shares of the company’s stock, valued at approximately $2,305,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Amundi raised its position in Enlight Renewable Energy by 2.3% in the first quarter. Amundi now owns 74,681 shares of the company’s stock valued at $1,160,000 after purchasing an additional 1,647 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Enlight Renewable Energy by 0.7% during the second quarter. Geode Capital Management LLC now owns 108,157 shares of the company’s stock worth $2,458,000 after purchasing an additional 773 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Enlight Renewable Energy during the second quarter worth about $815,000. First Trust Advisors LP increased its stake in shares of Enlight Renewable Energy by 9.6% in the second quarter. First Trust Advisors LP now owns 70,516 shares of the company’s stock valued at $1,600,000 after buying an additional 6,201 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of 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 buying an additional 24,653 shares during the period. Institutional investors and hedge funds own 38.89% of the company’s stock.

Insider Transactions at Enlight Renewable Energy

In related news, Chairman Gilad Yavetz sold 100,000 shares of Enlight Renewable Energy stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $91.78, for a total transaction of $9,178,000.00. Following the completion of the transaction, the chairman owned 846,436 shares of the company’s stock, valued at $77,685,896.08. This trade represents a 10.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Yair Seroussi sold 22,505 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $90.63, for a total transaction of $2,039,628.15. Following the completion of the transaction, the insider owned 14,233 shares in the company, valued at approximately $1,289,936.79. The trade was a 61.26% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 313,597 shares of company stock worth $29,830,515.

Enlight Renewable Energy Price Performance

Enlight Renewable Energy stock opened at $84.46 on Monday. The stock’s 50 day moving average is $90.44 and its 200 day moving average is $78.80. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market cap of $10.01 billion, a P/E ratio of 196.42, a P/E/G ratio of 22.93 and a beta of 1.66. Enlight Renewable Energy Ltd. has a one year low of $22.95 and a one year high of $108.65.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its earnings results on Tuesday, March 31st. The company reported $0.16 EPS for the quarter. The business had revenue of $156.49 million for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%. As a group, research analysts expect that Enlight Renewable Energy Ltd. will post 0.28 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on ENLT shares. Barclays lifted their target price on shares of Enlight Renewable Energy from $83.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. Truist Financial assumed coverage on shares of Enlight Renewable Energy in a research report on Monday, July 13th. They issued a “buy” rating and a $106.00 price target for the company. Deutsche Bank Aktiengesellschaft set a $65.00 price target on shares of Enlight Renewable Energy and gave the company a “hold” rating in a research note on Thursday, April 9th. UBS Group cut their price target on shares of Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Finally, Wall Street Zen raised shares of Enlight Renewable Energy from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. One investment 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 given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $75.00.

About Enlight Renewable Energy

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.