M&G PLC Has $13.63 Million Stock Position in ReNew Energy Global PLC $RNW

M&G PLC lowered its stake in ReNew Energy Global PLC (NASDAQ:RNW) by 22.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,703,330 shares of the company’s stock after selling 485,168 shares during the period. M&G PLC’s holdings in ReNew Energy Global were worth $13,627,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of RNW. Franklin Resources Inc. grew its stake in ReNew Energy Global by 21.8% during the second quarter. Franklin Resources Inc. now owns 14,187,989 shares of the company’s stock worth $98,039,000 after buying an additional 2,540,442 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of ReNew Energy Global by 9.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 699,905 shares of the company’s stock worth $5,389,000 after acquiring an additional 57,508 shares during the period. Norges Bank acquired a new stake in shares of ReNew Energy Global during the 2nd quarter worth approximately $3,129,000. GAM Holding AG increased its stake in ReNew Energy Global by 94.7% in the third quarter. GAM Holding AG now owns 370,000 shares of the company’s stock valued at $2,849,000 after acquiring an additional 180,000 shares during the last quarter. Finally, Carrera Capital Advisors increased its stake in ReNew Energy Global by 6.7% in the third quarter. Carrera Capital Advisors now owns 353,213 shares of the company’s stock valued at $2,720,000 after acquiring an additional 22,332 shares during the last quarter. Institutional investors and hedge funds own 43.56% of the company’s stock.

ReNew Energy Global Price Performance

Shares of RNW opened at $5.35 on Tuesday. The company has a debt-to-equity ratio of 4.34, a quick ratio of 0.74 and a current ratio of 0.77. ReNew Energy Global PLC has a 52 week low of $5.05 and a 52 week high of $8.24. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 17.26 and a beta of 0.91. The stock has a fifty day moving average of $5.62 and a 200-day moving average of $6.93.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RNW. Weiss Ratings cut ReNew Energy Global from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, February 11th. Mizuho lowered their price target on ReNew Energy Global from $8.15 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, December 16th. Finally, Morgan Stanley set a $6.03 price objective on ReNew Energy Global in a research note on Monday, February 2nd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.84.

About ReNew Energy Global

ReNew Energy Global PLC is an independent power producer specializing in the development, construction, ownership and operation of utility-scale renewable energy projects. Headquartered in Gurugram, India, the company focuses on onshore wind farms, solar photovoltaic plants and hybrid energy systems, often paired with battery energy storage to enhance grid stability and dispatch flexibility. ReNew Energy Global markets electricity under long-term power purchase agreements, serving utilities, distribution companies and corporate offtakers.

The company’s core business activities encompass site identification, project design, procurement, construction management and ongoing asset management.