Handelsbanken Fonder AB Raises Stake in Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Handelsbanken Fonder AB raised its position in Atlantica Sustainable Infrastructure plc (NASDAQ:AY) by 9.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,676 shares of the utilities provider’s stock after acquiring an additional 1,537 shares during the quarter. Handelsbanken Fonder AB’s holdings in Atlantica Sustainable Infrastructure were worth $380,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AY. Lazard Asset Management LLC acquired a new stake in Atlantica Sustainable Infrastructure during the third quarter worth approximately $24,218,000. Advisors Capital Management LLC increased its holdings in shares of Atlantica Sustainable Infrastructure by 32.2% in the 3rd quarter. Advisors Capital Management LLC now owns 990,341 shares of the utilities provider’s stock valued at $18,916,000 after acquiring an additional 241,417 shares during the period. Tritonpoint Wealth LLC acquired a new position in shares of Atlantica Sustainable Infrastructure in the 4th quarter valued at $4,007,000. Rock Point Advisors LLC acquired a new position in shares of Atlantica Sustainable Infrastructure in the 3rd quarter valued at $1,492,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Atlantica Sustainable Infrastructure by 14.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 360,060 shares of the utilities provider’s stock valued at $6,877,000 after buying an additional 46,607 shares during the period. Institutional investors and hedge funds own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Price Performance

Shares of NASDAQ AY opened at $20.92 on Thursday. The firm has a market capitalization of $2.43 billion, a P/E ratio of 49.81, a PEG ratio of 1.02 and a beta of 0.97. Atlantica Sustainable Infrastructure plc has a one year low of $16.35 and a one year high of $26.95. The company’s fifty day moving average is $18.33 and its two-hundred day moving average is $19.05. The company has a debt-to-equity ratio of 3.14, a quick ratio of 1.57 and a current ratio of 1.62.

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 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 in the previous year, the firm earned $0.03 EPS. Analysts forecast that Atlantica Sustainable Infrastructure plc will post 0.53 EPS for the current fiscal year.

Atlantica Sustainable Infrastructure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 12th were given a $0.445 dividend. The ex-dividend date was Monday, March 11th. This represents a $1.78 annualized dividend and a dividend yield of 8.51%. Atlantica Sustainable Infrastructure’s dividend payout ratio is presently 423.82%.

Analyst Ratings Changes

Several brokerages have issued reports on AY. National Bank Financial cut shares of Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 3rd. StockNews.com cut shares of Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. BMO Capital Markets dropped their price objective on shares of 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 raised shares of Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $19.00 to $25.00 in a research note on Friday, March 22nd. Finally, Bank of America dropped their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Atlantica Sustainable Infrastructure currently has an average rating of “Hold” and a consensus target price of $23.67.

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.