WASHINGTON TRUST Co Sells 1,500 Shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

WASHINGTON TRUST Co decreased its holdings in Atlantica Sustainable Infrastructure plc (NASDAQ:AY) by 42.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,000 shares of the utilities provider’s stock after selling 1,500 shares during the period. WASHINGTON TRUST Co’s holdings in Atlantica Sustainable Infrastructure were worth $43,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Lazard Asset Management LLC purchased a new position in Atlantica Sustainable Infrastructure in the 3rd quarter worth $24,218,000. Invesco Ltd. increased its holdings in Atlantica Sustainable Infrastructure by 23.9% in the first quarter. Invesco Ltd. now owns 3,124,558 shares of the utilities provider’s stock valued at $109,577,000 after buying an additional 601,826 shares in the last quarter. Norges Bank acquired a new position in shares of Atlantica Sustainable Infrastructure in the fourth quarter worth about $15,149,000. Millennium Management LLC boosted its stake in shares of Atlantica Sustainable Infrastructure by 200.4% during the 4th quarter. Millennium Management LLC now owns 744,018 shares of the utilities provider’s stock worth $19,270,000 after acquiring an additional 496,383 shares in the last quarter. Finally, Amundi grew its position in shares of Atlantica Sustainable Infrastructure by 18.4% during the 4th quarter. Amundi now owns 2,228,509 shares of the utilities provider’s stock valued at $58,381,000 after acquiring an additional 345,550 shares during the period. 40.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. BMO Capital Markets lowered their price target 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. UBS Group raised shares of Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and lifted their price target for the company from $19.00 to $25.00 in a research note on Friday, March 22nd. Bank of America reduced their price objective on shares of Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Royal Bank of Canada cut their target price on shares of Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating for the company in a research note on Monday, March 4th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $23.67.

Atlantica Sustainable Infrastructure Stock Up 1.7 %

Shares of AY opened at $18.48 on Friday. The stock has a fifty day simple moving average of $18.45 and a two-hundred day simple moving average of $19.23. The company has a quick ratio of 1.57, a current ratio of 1.62 and a debt-to-equity ratio of 3.14. The company has a market capitalization of $2.14 billion, a PE ratio of 44.00 and a beta of 0.97. Atlantica Sustainable Infrastructure plc has a 52-week low of $16.35 and a 52-week high of $29.81.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last issued its earnings results on Friday, March 1st. The utilities provider reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.25. The company had revenue of $241.31 million for the quarter, compared to the consensus estimate of $243.81 million. Atlantica Sustainable Infrastructure had a net margin of 4.43% and a return on equity of 2.91%. During the same period in the previous year, the firm earned $0.03 earnings per share. As a group, equities analysts forecast that Atlantica Sustainable Infrastructure plc will post 0.4 EPS for the current year.

Atlantica Sustainable Infrastructure Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 12th were paid a dividend of $0.445 per share. The ex-dividend date was Monday, March 11th. This represents a $1.78 annualized dividend and a yield of 9.63%. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is 423.82%.

About Atlantica Sustainable Infrastructure

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.