Quantbot Technologies LP Sells 40,899 Shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Quantbot Technologies LP reduced its position in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) by 43.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,161 shares of the utilities provider’s stock after selling 40,899 shares during the period. Quantbot Technologies LP’s holdings in Atlantica Sustainable Infrastructure were worth $1,168,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AY. Manning & Napier Advisors LLC acquired a new position in Atlantica Sustainable Infrastructure during the 2nd quarter worth about $2,195,000. Swedbank AB bought a new position in shares of Atlantica Sustainable Infrastructure in the first quarter worth about $4,103,000. Water Island Capital LLC acquired a new position in shares of Atlantica Sustainable Infrastructure during the second quarter worth approximately $13,438,000. Alpine Associates Management Inc. grew its stake in shares of Atlantica Sustainable Infrastructure by 54.0% during the third quarter. Alpine Associates Management Inc. now owns 1,662,509 shares of the utilities provider’s stock valued at $36,542,000 after purchasing an additional 582,821 shares during the last quarter. Finally, Trium Capital LLP acquired a new stake in shares of Atlantica Sustainable Infrastructure in the second quarter valued at approximately $2,010,000. 40.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Atlantica Sustainable Infrastructure in a report on Saturday. They set a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $22.20.

Atlantica Sustainable Infrastructure Price Performance

Shares of AY stock opened at $21.94 on Friday. The firm’s 50 day moving average price is $22.03 and its two-hundred day moving average price is $22.09. The company has a debt-to-equity ratio of 3.36, a quick ratio of 1.20 and a current ratio of 1.25. Atlantica Sustainable Infrastructure plc has a 52-week low of $16.82 and a 52-week high of $23.47. The stock has a market cap of $2.55 billion, a PE ratio of 75.66, a PEG ratio of 2.16 and a beta of 1.03.

Atlantica Sustainable Infrastructure Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 29th will be given a $0.2225 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.89 annualized dividend and a dividend yield of 4.06%. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 306.90%.

Atlantica Sustainable Infrastructure Company 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.