Jefferies Begins Coverage of Canadian Solar: A Positive Outlook for Investors
On November 22, 2024, Jefferies initiated coverage of Canadian Solar (LSE:0XGH) with a strong Buy recommendation.
Fund Sentiment: A Shift in Ownership
Currently, 192 funds and institutions hold positions in Canadian Solar, marking a decrease of 24 owners, or 11.11%, from the previous quarter. The average portfolio weight for these funds in 0XGH has risen slightly to 0.17%, increasing by 2.26%. Additionally, total shares owned by institutions grew by 2.75% over the past three months, amounting to 34,160K shares.
Among the notable shareholders, BlackRock holds 5,228K shares, which accounts for 7.90% of the company’s ownership. Mackenzie Financial has increased its stake to 5,166K shares (7.81% ownership), up by 0.97% compared to its previous filing and reflecting a 7.45% increase in portfolio allocation this quarter.
Invesco, on the other hand, now owns 2,049K shares (3.10% ownership), having seen a significant increase of 9.63% from 1,852K shares last quarter. Notably, Invesco reduced its total allocation in 0XGH by 90.13% during the same period.
Legal & General Group’s ownership saw a small rise as well, with 1,590K shares (2.40% ownership), an increase of 0.39% from 1,584K shares previously. The firm has, however, decreased its allocation in 0XGH by 46.38%.
Furthermore, the TAN – Invesco Solar ETF now holds 1,364K shares (2.06% ownership), which is an increase of 17.39% from last filing’s 1,127K shares. Yet, it, too, reduced its portfolio allocation in 0XGH by 9.33%.
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This story originally appeared on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
