First Trust Advisors LP Lowers Stock Holdings in Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

First Trust Advisors LP cut its stake in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY – Get Rating) by 4.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 723,956 shares of the utilities provider’s stock after selling 37,690 shares during the period. First Trust Advisors LP’s holdings in Atlantica Sustainable Infrastructure were worth $18,754,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. grew its position in Atlantica Sustainable Infrastructure by 39.4% in the 1st quarter. Advisor Group Holdings Inc. now owns 13,014 shares of the utilities provider’s stock valued at $415,000 after buying an additional 3,676 shares during the last quarter. Citigroup Inc. boosted its holdings in Atlantica Sustainable Infrastructure by 37.4% in the 1st quarter. Citigroup Inc. now owns 111,622 shares of the utilities provider’s stock valued at $3,915,000 after purchasing an additional 30,406 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Atlantica Sustainable Infrastructure by 122.2% during the 1st 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. Bank of Montreal Can raised its stake in shares of Atlantica Sustainable Infrastructure by 50.1% during the 1st quarter. Bank of Montreal Can now owns 53,967 shares of the utilities provider’s stock worth $1,881,000 after buying an additional 18,014 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Atlantica Sustainable Infrastructure by 5.3% in the 1st quarter. BlackRock Inc. now owns 2,097,975 shares of the utilities provider’s stock valued at $73,575,000 after buying an additional 105,043 shares during the period. 39.37% of the stock is owned by institutional investors and hedge funds.

Atlantica Sustainable Infrastructure Stock Performance

NASDAQ AY opened at $25.02 on Monday. The company has a quick ratio of 1.94, a current ratio of 2.00 and a debt-to-equity ratio of 3.10. Atlantica Sustainable Infrastructure plc has a fifty-two week low of $24.42 and a fifty-two week high of $36.35. The business has a fifty day moving average of $27.17 and a 200-day moving average of $27.11. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of -833.72, a price-to-earnings-growth ratio of 3.27 and a beta of 0.84.

Atlantica Sustainable Infrastructure (NASDAQ:AY – Get Rating) last announced its earnings results on Wednesday, March 1st. The utilities provider reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.23. Atlantica Sustainable Infrastructure had a negative net margin of 0.40% and a negative return on equity of 0.25%. The firm had revenue of $243.62 million during the quarter, compared to the consensus estimate of $250.09 million. As a group, analysts predict that Atlantica Sustainable Infrastructure plc will post 0.16 earnings per share for the current fiscal year.

Atlantica Sustainable Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be given a dividend of $0.445 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $1.78 dividend on an annualized basis and a yield of 7.11%. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is currently -5,931.36%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price objective on Atlantica Sustainable Infrastructure from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, March 2nd. Morgan Stanley decreased their price objective on shares of Atlantica Sustainable Infrastructure from $36.00 to $33.00 and set an “equal weight” rating on the stock in a report on Monday, January 30th. StockNews.com assumed coverage on shares of Atlantica Sustainable Infrastructure in a report on Thursday. They issued a “hold” rating for the company. National Bank Financial raised Atlantica Sustainable Infrastructure from a “sector perform” rating to an “outperform” rating and set a $31.00 price target on the stock in a research note on Monday, May 8th. Finally, National Bankshares raised Atlantica Sustainable Infrastructure from a “sector perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a research note on Monday, May 8th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $31.75.

About Atlantica Sustainable Infrastructure

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Atlantica Sustainable Infrastructure Plc engages in the ownership, management, and acquisition of renewable energy. It specializes in the following businesses: Renewable Energy; Natural Gas; Electrical Transmission; and Water. The Renewable Energy business includes production of electricity from solar power and wind plants.