Northwest & Ethical Investments L.P. Reduces Stock Position in ReNew Energy Global PLC $RNW

Key Points

• Northwest & Ethical Investments L.P. reduced its stake in ReNew Energy Global PLC by 40.7%, leaving it with approximately 1.36 million shares worth $8.02 million.
• ReNew Energy Global reported earnings of $0.16 per share for the last quarter, surpassing analysts' expectations of $0.11.
• Following a 1st-quarter acquisition, Invesco Ltd. increased its shares in ReNew Energy Global by 16.8%, now holding approximately 2.48 million shares valued at $14.58 million.

Northwest & Ethical Investments L.P. cut its position in ReNew Energy Global PLC (NASDAQ:RNW - Free Report) by 40.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,362,071 shares of the company's stock after selling 934,729 shares during the quarter. Northwest & Ethical Investments L.P. owned 0.38% of ReNew Energy Global worth $8,022,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Point72 Asset Management L.P. purchased a new position in ReNew Energy Global in the fourth quarter valued at $25,000. BNP Paribas Financial Markets purchased a new position in shares of ReNew Energy Global during the fourth quarter worth about $25,000. Hsbc Holdings PLC grew its holdings in shares of ReNew Energy Global by 40.3% during the fourth quarter. Hsbc Holdings PLC now owns 16,710 shares of the company's stock worth $115,000 after purchasing an additional 4,799 shares during the last quarter. Barclays PLC boosted its stake in shares of ReNew Energy Global by 21.8% during the fourth quarter. Barclays PLC now owns 32,123 shares of the company's stock worth $219,000 after buying an additional 5,742 shares during the period. Finally, Mariner LLC boosted its stake in shares of ReNew Energy Global by 22.7% during the fourth quarter. Mariner LLC now owns 31,340 shares of the company's stock worth $214,000 after buying an additional 5,801 shares during the period. 43.56% of the stock is owned by institutional investors and hedge funds.

ReNew Energy Global Stock Performance

Shares of RNW traded up $0.12 during mid-day trading on Friday, hitting $7.79. 1,918,638 shares of the company's stock were exchanged, compared to its average volume of 717,666. ReNew Energy Global PLC has a fifty-two week low of $5.15 and a fifty-two week high of $7.89. The firm has a market capitalization of $2.83 billion, a P/E ratio of 24.34 and a beta of 0.89. The business's 50 day moving average is $7.38 and its two-hundred day moving average is $6.74. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 4.42.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.05. The business had revenue of $480.35 million during the quarter, compared to the consensus estimate of $32.46 billion. ReNew Energy Global had a net margin of 5.77% and a return on equity of 8.34%. On average, equities analysts expect that ReNew Energy Global PLC will post 0.15 earnings per share for the current year.

About ReNew Energy Global

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.