Raymond James & Associates trimmed its holdings in Atlantica Sustainable Infrastructure plc (NASDAQ:AY – Free Report) by 13.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 192,424 shares of the utilities provider’s stock after selling 30,701 shares during the period. Raymond James & Associates’ holdings in Atlantica Sustainable Infrastructure were worth $4,137,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in AY. FMR LLC increased its stake in shares of Atlantica Sustainable Infrastructure by 63.6% during the second quarter. FMR LLC now owns 954 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 371 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Atlantica Sustainable Infrastructure by 122.2% during the first quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 550 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Atlantica Sustainable Infrastructure during the second quarter worth approximately $27,000. Lazard Asset Management LLC increased its stake in shares of Atlantica Sustainable Infrastructure by 200.0% during the first quarter. Lazard Asset Management LLC now owns 1,383 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 922 shares during the period. Finally, Creative Planning bought a new position in shares of Atlantica Sustainable Infrastructure during the third quarter worth approximately $27,000. 40.53% of the stock is owned by institutional investors and hedge funds.
Atlantica Sustainable Infrastructure Trading Up 3.3 %
Shares of AY opened at $19.22 on Friday. Atlantica Sustainable Infrastructure plc has a 52-week low of $16.35 and a 52-week high of $28.54. The business’s fifty day moving average is $18.29 and its 200-day moving average is $18.98. The company has a debt-to-equity ratio of 3.14, a quick ratio of 1.57 and a current ratio of 1.62. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 45.76 and a beta of 0.97.
Atlantica Sustainable Infrastructure (NASDAQ:AY – Get Free Report) last issued its quarterly earnings results on Friday, March 1st. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.25. Atlantica Sustainable Infrastructure had a return on equity of 2.91% and a net margin of 4.43%. The company had revenue of $241.31 million for the quarter, compared to analyst estimates of $243.81 million. During the same quarter last year, the company posted $0.03 EPS. Equities analysts anticipate that Atlantica Sustainable Infrastructure plc will post 0.49 EPS for the current fiscal year.
Atlantica Sustainable Infrastructure Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Tuesday, March 12th were paid a $0.445 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.78 annualized dividend and a dividend yield of 9.26%. Atlantica Sustainable Infrastructure’s payout ratio is 423.81%.
Analysts Set New Price Targets
AY has been the topic of a number of recent research reports. BMO Capital Markets lowered their target price on Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 5th. UBS Group upgraded Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $19.00 to $25.00 in a research note on Friday, March 22nd. National Bank Financial lowered Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 3rd. Bank of America lowered their price objective on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th. Finally, Royal Bank of Canada lowered their price objective on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating on the stock in a research note on Monday, March 4th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $23.67.
Check Out Our Latest Research Report on AY
Atlantica Sustainable Infrastructure Company Profile
Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in North America, South America, Europe, the Middle East, and Africa. The company was formerly known as Atlantica Yield plc and changed its name to Atlantica Sustainable Infrastructure plc in May 2020.
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