Franklin Resources Inc. Makes New $11.59 Million Investment in ReNew Energy Global Plc (NASDAQ:RNW)

Franklin Resources Inc. acquired a new stake in ReNew Energy Global Plc (NASDAQ:RNW) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,953,667 shares of the company’s stock, valued at approximately $11,585,000. Franklin Resources Inc. owned approximately 0.54% of ReNew Energy Global at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Van ECK Associates Corp boosted its holdings in ReNew Energy Global by 58.1% in the third quarter. Van ECK Associates Corp now owns 12,278 shares of the company’s stock valued at $72,000 after purchasing an additional 4,513 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of ReNew Energy Global by 23.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 12,672 shares of the company’s stock valued at $80,000 after buying an additional 2,379 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of ReNew Energy Global by 12.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 15,187 shares of the company’s stock valued at $95,000 after buying an additional 1,709 shares during the last quarter. Quantbot Technologies LP grew its position in shares of ReNew Energy Global by 454.7% in the 3rd quarter. Quantbot Technologies LP now owns 15,788 shares of the company’s stock valued at $99,000 after buying an additional 12,942 shares during the last quarter. Finally, Barclays PLC lifted its position in ReNew Energy Global by 382.5% in the third quarter. Barclays PLC now owns 26,381 shares of the company’s stock valued at $166,000 after acquiring an additional 20,913 shares during the last quarter. 43.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley lowered ReNew Energy Global from an “overweight” rating to an “equal weight” rating in a report on Thursday, September 26th.

ReNew Energy Global Price Performance

RNW stock opened at $6.90 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 4.51. The company has a market capitalization of $2.50 billion, a P/E ratio of 115.02 and a beta of 0.96. The business has a 50 day simple moving average of $6.02 and a 200-day simple moving average of $6.01. ReNew Energy Global Plc has a twelve month low of $5.15 and a twelve month high of $7.79.

ReNew Energy Global Company 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.