Neo Ivy Capital Management Trims Position in Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Neo Ivy Capital Management reduced its stake in Atlantica Sustainable Infrastructure plc (NASDAQ:AYFree Report) by 52.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,224 shares of the utilities provider’s stock after selling 2,459 shares during the period. Neo Ivy Capital Management’s holdings in Atlantica Sustainable Infrastructure were worth $42,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AY. FMR LLC lifted its stake in shares of Atlantica Sustainable Infrastructure by 63.6% during the 2nd quarter. FMR LLC now owns 954 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 371 shares during the last quarter. Virtu Financial LLC lifted its position in shares of Atlantica Sustainable Infrastructure by 4.0% in the fourth quarter. Virtu Financial LLC now owns 10,241 shares of the utilities provider’s stock valued at $265,000 after acquiring an additional 395 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Atlantica Sustainable Infrastructure by 122.2% in the first quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 550 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Atlantica Sustainable Infrastructure by 0.3% in the second quarter. Northern Trust Corp now owns 181,592 shares of the utilities provider’s stock valued at $5,858,000 after purchasing an additional 576 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in Atlantica Sustainable Infrastructure by 37.1% during the third quarter. IFP Advisors Inc now owns 2,578 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 698 shares during the last quarter. 41.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on AY shares. Royal Bank of Canada decreased their target price on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, March 4th. BMO Capital Markets cut 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 report on Tuesday, March 5th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.75.

Get Our Latest Report on AY

Atlantica Sustainable Infrastructure Stock Performance

NASDAQ:AY opened at $17.65 on Friday. 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’s 50-day moving average is $18.96 and its 200-day moving average is $19.55. Atlantica Sustainable Infrastructure plc has a 52-week low of $16.35 and a 52-week high of $29.81. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 42.02 and a beta of 0.97.

Atlantica Sustainable Infrastructure (NASDAQ:AYGet Free Report) last posted its earnings results on Friday, March 1st. The utilities provider reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.25. Atlantica Sustainable Infrastructure had a net margin of 4.43% and a return on equity of 2.91%. The company had revenue of $241.31 million for the quarter, compared to analyst estimates of $243.81 million. During the same period last year, the business posted $0.03 earnings per share. Equities research analysts anticipate that Atlantica Sustainable Infrastructure plc will post 0.33 earnings per share for the current year.

Atlantica Sustainable Infrastructure Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Tuesday, March 12th will be given a dividend of $0.445 per share. The ex-dividend date is Monday, March 11th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 10.08%. Atlantica Sustainable Infrastructure’s payout ratio is presently 423.82%.

Atlantica Sustainable Infrastructure Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Atlantica Sustainable Infrastructure (NASDAQ:AY)

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