Nuveen LLC Invests $598,000 in JinkoSolar Holding Company Limited $JKS

Key Points

• Nuveen LLC recently invested approximately $598,000 in JinkoSolar, acquiring 32,100 shares, which represents a 0.06% stake in the company.
• Institutional investors now hold 35.82% of JinkoSolar's stock, with notable increases in holdings from firms like Invesco Ltd. and Balyasny Asset Management.
• JinkoSolar announced a quarterly dividend of $0.325 per share, which translates to an annualized dividend yield of 5.4%.

Nuveen LLC acquired a new position in shares of JinkoSolar Holding Company Limited (NYSE:JKS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 32,100 shares of the semiconductor company's stock, valued at approximately $598,000. Nuveen LLC owned approximately 0.06% of JinkoSolar at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Banque Cantonale Vaudoise bought a new stake in shares of JinkoSolar in the first quarter valued at about $36,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in 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 purchasing an additional 3,998 shares in the last quarter. Barclays PLC lifted its holdings in JinkoSolar by 425.4% in the fourth quarter. Barclays PLC now owns 12,179 shares of the semiconductor company's stock valued at $303,000 after buying an additional 9,861 shares during the period. Twinbeech Capital LP grew its position in JinkoSolar by 219.9% in the 4th quarter. Twinbeech Capital LP now owns 25,960 shares of the semiconductor company's stock worth $646,000 after purchasing an additional 17,846 shares in the last quarter. Finally, Stifel Financial Corp purchased a new stake in JinkoSolar in the 4th quarter worth approximately $1,197,000. Hedge funds and other institutional investors own 35.82% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of JinkoSolar from a "sell" rating to a "hold" rating in a research report on Sunday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $28.99.

JinkoSolar Price Performance

Shares of JKS stock traded down $0.27 during mid-day trading on Monday, reaching $25.21. The stock had a trading volume of 222,074 shares, compared to its average volume of 752,847. The company has a market cap of $1.30 billion, a P/E ratio of -5.00 and a beta of 0.13. JinkoSolar Holding Company Limited has a 12-month low of $13.42 and a 12-month high of $37.36. The company has a current ratio of 1.33, a quick ratio of 1.07 and a debt-to-equity ratio of 1.11. The business has a 50-day simple moving average of $23.13 and a 200 day simple moving average of $20.57.

JinkoSolar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 2nd were issued a $0.325 dividend. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a $1.30 dividend on an annualized basis and a dividend yield of 5.2%. JinkoSolar's dividend payout ratio is presently -25.50%.

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.