Findlay Park Partners LLP Acquires New Position in Canadian Solar Inc. $CSIQ

Findlay Park Partners LLP acquired a new stake in shares of Canadian Solar Inc. (NASDAQ:CSIQFree Report) in the 2nd quarter, HoldingsChannel reports. The firm acquired 1,826,068 shares of the solar energy provider’s stock, valued at approximately $217,740,000. Canadian Solar accounts for approximately 2.9% of Findlay Park Partners LLP’s portfolio, making the stock its 8th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Varma Mutual Pension Insurance Co acquired a new stake in shares of Canadian Solar in the 2nd quarter valued at $15,967,000. Westpac Banking Corp acquired a new position in shares of Canadian Solar during the 2nd quarter worth $245,000. Sumitomo Life Insurance Co. acquired a new position in shares of Canadian Solar during the 2nd quarter worth $1,174,000. Korea Investment CORP bought a new stake in shares of Canadian Solar during the 2nd quarter worth $26,611,000. Finally, EP Wealth Advisors LLC bought a new stake in shares of Canadian Solar during the 2nd quarter worth $337,000. 52.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Canadian Solar news, Director Leslie Li Hsien Chang sold 1,767 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $19.45, for a total value of $34,368.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 21.50% of the company’s stock.

Canadian Solar Trading Down 1.2%

NASDAQ CSIQ opened at $14.55 on Friday. The company has a market cap of $987.95 million, a price-to-earnings ratio of -5.77 and a beta of 1.52. Canadian Solar Inc. has a twelve month low of $9.41 and a twelve month high of $34.59. The company has a quick ratio of 0.81, a current ratio of 1.06 and a debt-to-equity ratio of 0.99. The business’s fifty day moving average is $15.20 and its 200 day moving average is $16.29.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CSIQ shares. Freedom Capital cut Canadian Solar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Citigroup raised shares of Canadian Solar from a “sell” rating to a “neutral” rating and increased their target price for the stock from $11.00 to $18.00 in a report on Wednesday, July 22nd. Mizuho lifted their price target on shares of Canadian Solar from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, June 15th. Finally, Wall Street Zen upgraded shares of Canadian Solar from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $19.36.

View Our Latest Stock Analysis on CSIQ

About Canadian Solar

(Free Report)

Canadian Solar Inc (NASDAQ: CSIQ) is a global renewable energy company that specializes in the design, development and manufacturing of solar photovoltaic (PV) modules and system solutions. Founded in 2001 and headquartered in Guelph, Ontario, the company has grown to become one of the world’s largest solar module suppliers. Canadian Solar offers a comprehensive portfolio of products, including mono- and multi-crystalline solar cells and modules, as well as advanced energy storage and system integration solutions tailored for residential, commercial and utility-scale applications.

In addition to manufacturing solar components, Canadian Solar provides end-to-end services encompassing project development, engineering, procurement and construction (EPC), as well as operations and maintenance.

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Institutional Ownership by Quarter for Canadian Solar (NASDAQ:CSIQ)

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