Bank of New York Mellon Corp decreased its stake in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY – Free Report) by 4.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 262,460 shares of the utilities provider’s stock after selling 12,887 shares during the quarter. Bank of New York Mellon Corp’s holdings in Atlantica Sustainable Infrastructure were worth $6,152,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in AY. Invesco Ltd. boosted its position 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 stake in Atlantica Sustainable Infrastructure in the fourth quarter worth $15,149,000. Millennium Management LLC raised its holdings in Atlantica Sustainable Infrastructure by 200.4% in the fourth quarter. Millennium Management LLC now owns 744,018 shares of the utilities provider’s stock worth $19,270,000 after purchasing an additional 496,383 shares during the period. Amundi raised its holdings in Atlantica Sustainable Infrastructure by 18.4% in the fourth quarter. Amundi now owns 2,228,509 shares of the utilities provider’s stock worth $58,381,000 after purchasing an additional 345,550 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Atlantica Sustainable Infrastructure in the first quarter worth $6,701,000. Institutional investors own 41.06% of the company’s stock.
Wall Street Analysts Forecast Growth
AY has been the topic of several analyst reports. StockNews.com initiated coverage on shares of Atlantica Sustainable Infrastructure in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Royal Bank of Canada cut their target price on shares of Atlantica Sustainable Infrastructure from $34.00 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, November 9th. JPMorgan Chase & Co. dropped their price objective on shares of Atlantica Sustainable Infrastructure from $27.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, October 19th. Morgan Stanley dropped their price objective on shares of Atlantica Sustainable Infrastructure from $26.00 to $22.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 3rd. Finally, BMO Capital Markets dropped their price objective on shares of Atlantica Sustainable Infrastructure from $27.00 to $25.00 and set a “market perform” rating on the stock in a report on Friday, September 22nd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $24.63.
Atlantica Sustainable Infrastructure Stock Performance
NASDAQ AY opened at $18.90 on Tuesday. The company has a quick ratio of 1.70, a current ratio of 1.75 and a debt-to-equity ratio of 2.96. The company has a market capitalization of $2.12 billion, a P/E ratio of 43.95 and a beta of 0.88. Atlantica Sustainable Infrastructure plc has a 12-month low of $16.35 and a 12-month high of $29.81. The firm has a 50-day moving average price of $18.94 and a two-hundred day moving average price of $22.06.
Atlantica Sustainable Infrastructure Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 9.42%. The ex-dividend date is Wednesday, November 29th. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 413.95%.
Atlantica Sustainable Infrastructure Profile
Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in the United States, Canada, Mexico, Peru, Chile, Colombia, Uruguay, Spain, Italy, Algeria, and South 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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