JinkoSolar Holding Company Limited $JKS Position Boosted by Invesco Ltd.

Key Points

• Invesco Ltd. increased its holdings in JinkoSolar by 15.3% during the first quarter, owning approximately 1.42 million shares valued at $26.4 million.
• The company recently announced a quarterly dividend of $0.325 per share, resulting in an annualized yield of 5.6%.
• Analysts have downgraded JinkoSolar from a "buy" to a "sell" rating, with a consensus price target of $27.19.

Invesco Ltd. lifted its position in shares of JinkoSolar Holding Company Limited (NYSE:JKS - Free Report) by 15.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,418,425 shares of the semiconductor company's stock after purchasing an additional 187,930 shares during the period. Invesco Ltd. owned about 2.76% of JinkoSolar worth $26,439,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new stake in JinkoSolar in the 1st quarter valued at approximately $36,000. CANADA LIFE ASSURANCE Co purchased a new stake in shares of JinkoSolar during the 4th quarter worth approximately $55,000. Jump Financial LLC purchased a new stake in shares of JinkoSolar during the 4th quarter worth approximately $200,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of JinkoSolar by 85.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,697 shares of the semiconductor company's stock worth $217,000 after acquiring an additional 3,998 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of JinkoSolar during the 4th quarter worth approximately $258,000. Institutional investors and hedge funds own 35.82% of the company's stock.

JinkoSolar Trading Up 1.0%

JKS traded up $0.2380 during trading on Monday, hitting $23.7380. The company's stock had a trading volume of 568,898 shares, compared to its average volume of 425,084. The firm's 50 day moving average price is $22.53 and its 200-day moving average price is $20.49. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.07. The stock has a market cap of $1.22 billion, a PE ratio of -4.73 and a beta of 0.21. JinkoSolar Holding Company Limited has a twelve month low of $13.42 and a twelve month high of $37.36.

JinkoSolar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 2nd were issued a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Wednesday, July 2nd. JinkoSolar's dividend payout ratio is presently -25.50%.

Analyst Ratings Changes

Separately, Citigroup lowered JinkoSolar from a "buy" rating to a "sell" rating in a research note on Monday, May 5th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $27.19.

JinkoSolar Profile

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.