Invesco Ltd. Acquires 187,930 Shares of JinkoSolar Holding Company Limited $JKS

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% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,418,425 shares of the semiconductor company's stock after acquiring an additional 187,930 shares during the period. Invesco Ltd. owned approximately 2.76% of JinkoSolar worth $26,439,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new stake in shares of JinkoSolar during the first quarter valued at approximately $36,000. CANADA LIFE ASSURANCE Co bought a new stake in shares of JinkoSolar during the fourth quarter valued at approximately $55,000. Jump Financial LLC bought a new stake in shares of JinkoSolar during the fourth quarter valued at approximately $200,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of JinkoSolar by 85.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,697 shares of the semiconductor company's stock valued at $217,000 after acquiring an additional 3,998 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of JinkoSolar during the fourth quarter valued at approximately $258,000. Institutional investors own 35.82% of the company's stock.

JinkoSolar Stock Performance

JinkoSolar stock traded up $0.9350 during midday trading on Friday, reaching $23.5350. 690,033 shares of the company traded hands, compared to its average volume of 420,187. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -4.69 and a beta of 0.21. The business has a 50 day moving average of $22.45 and a two-hundred day moving average of $20.49. JinkoSolar Holding Company Limited has a 12 month low of $13.42 and a 12 month high of $37.36. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.07.

JinkoSolar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 2nd were given a $0.325 dividend. The ex-dividend date was Wednesday, July 2nd. This represents a $1.30 annualized dividend and a yield of 5.5%. JinkoSolar's dividend payout ratio (DPR) is presently -25.50%.

Analyst Ratings Changes

Separately, Citigroup downgraded shares of JinkoSolar from a "buy" rating to a "sell" rating in a research report on Monday, May 5th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average price target 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.