Covestor Ltd Purchases 1,064 Shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Covestor Ltd lifted its position in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) by 12.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,385 shares of the utilities provider’s stock after buying an additional 1,064 shares during the quarter. Covestor Ltd’s holdings in Atlantica Sustainable Infrastructure were worth $173,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Private Advisor Group LLC lifted its holdings in Atlantica Sustainable Infrastructure by 4.3% during the first quarter. Private Advisor Group LLC now owns 20,918 shares of the utilities provider’s stock worth $387,000 after buying an additional 864 shares during the period. Rational Advisors LLC boosted its position in Atlantica Sustainable Infrastructure by 113.8% during the first quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 1,025 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in Atlantica Sustainable Infrastructure by 4.1% in the first quarter. Commonwealth Equity Services LLC now owns 28,801 shares of the utilities provider’s stock valued at $532,000 after purchasing an additional 1,132 shares during the last quarter. Sargent Investment Group LLC raised its holdings in Atlantica Sustainable Infrastructure by 2.9% in the fourth quarter. Sargent Investment Group LLC now owns 42,905 shares of the utilities provider’s stock worth $922,000 after purchasing an additional 1,205 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of Atlantica Sustainable Infrastructure by 9.5% during the fourth quarter. Handelsbanken Fonder AB now owns 17,676 shares of the utilities provider’s stock valued at $380,000 after buying an additional 1,537 shares during the last quarter. Hedge funds and other institutional investors own 40.53% of the company’s stock.

Analyst Ratings Changes

AY has been the subject of several recent analyst reports. BMO Capital Markets boosted their price objective on shares of Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the stock a “market perform” rating in a research note on Friday, May 10th. Bank of America lowered their price objective on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. National Bankshares increased their price target on Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 28th. National Bank Financial lowered Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 3rd. Finally, StockNews.com began coverage on shares of Atlantica Sustainable Infrastructure in a research report on Wednesday, July 17th. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Atlantica Sustainable Infrastructure presently has a consensus rating of “Hold” and a consensus price target of $22.67.

Atlantica Sustainable Infrastructure Stock Performance

Shares of Atlantica Sustainable Infrastructure stock traded down $0.08 during trading on Tuesday, hitting $22.12. 168,918 shares of the company’s stock were exchanged, compared to its average volume of 1,330,752. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 48.26, a PEG ratio of 1.32 and a beta of 1.02. The business has a 50-day simple moving average of $22.18 and a 200-day simple moving average of $20.16. Atlantica Sustainable Infrastructure plc has a 52-week low of $16.35 and a 52-week high of $25.22. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.50 and a current ratio of 1.55.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last issued its quarterly earnings data on Tuesday, May 14th. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.07. The business had revenue of $242.93 million during the quarter, compared to analysts’ expectations of $240.87 million. Atlantica Sustainable Infrastructure had a return on equity of 3.33% and a net margin of 4.94%. During the same quarter in the previous year, the firm posted ($0.09) EPS. On average, research analysts forecast that Atlantica Sustainable Infrastructure plc will post 0.46 EPS for the current year.

Atlantica Sustainable Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 8.05%. The ex-dividend date was Friday, May 31st. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 386.96%.

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 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.