Franklin Resources Inc. Boosts Stock Holdings in ReNew Energy Global Plc (NASDAQ:RNW)

Franklin Resources Inc. grew its stake in shares of ReNew Energy Global Plc (NASDAQ:RNW) by 191.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,693,312 shares of the company’s stock after buying an additional 3,739,645 shares during the period. Franklin Resources Inc.’s holdings in ReNew Energy Global were worth $38,885,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in RNW. Quantbot Technologies LP grew its holdings in shares of ReNew Energy Global by 454.7% during the 3rd quarter. Quantbot Technologies LP now owns 15,788 shares of the company’s stock worth $99,000 after purchasing an additional 12,942 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in ReNew Energy Global by 40.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 699,905 shares of the company’s stock valued at $4,402,000 after buying an additional 202,100 shares in the last quarter. Verition Fund Management LLC purchased a new stake in ReNew Energy Global during the third quarter worth approximately $426,000. Barclays PLC increased its position in shares of ReNew Energy Global by 382.5% in the third quarter. Barclays PLC now owns 26,381 shares of the company’s stock worth $166,000 after acquiring an additional 20,913 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of ReNew Energy Global by 26.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 148,777 shares of the company’s stock valued at $936,000 after acquiring an additional 31,125 shares during the period. 43.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Roth Mkm decreased their price target on shares of ReNew Energy Global from $8.00 to $7.50 and set a “buy” rating for the company in a research report on Friday, February 21st.

ReNew Energy Global Price Performance

RNW stock opened at $5.78 on Friday. The firm has a market cap of $2.10 billion, a P/E ratio of 115.60 and a beta of 0.89. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.64 and a current ratio of 0.60. ReNew Energy Global Plc has a 1 year low of $5.15 and a 1 year high of $7.49. The stock has a 50-day simple moving average of $6.31 and a 200-day simple moving average of $6.28.

ReNew Energy Global (NASDAQ:RNW) last issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.07). ReNew Energy Global had a net margin of 2.17% and a return on equity of 1.75%. The firm had revenue of $248.00 million during the quarter, compared to analyst estimates of $20.22 billion. On average, equities analysts predict that ReNew Energy Global Plc will post 0.15 earnings per share for the current fiscal year.

ReNew Energy Global Profile

ReNew Energy Global Plc generates power through non-conventional and renewable energy sources in India. The company operates through two segments: Wind Power and Solar Power. It develops, builds, owns, and operates utility scale wind and solar energy, hydro energy, and utility-scale firm power projects, as well as distributed solar energy projects that generate energy for commercial and industrial customers.