Raymond James Financial Services Advisors Inc. Lowers Stock Holdings in Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Raymond James Financial Services Advisors Inc. trimmed its position in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) by 74.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,431 shares of the utilities provider’s stock after selling 110,560 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Atlantica Sustainable Infrastructure were worth $826,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AY. Lazard Asset Management LLC purchased a new position in shares of Atlantica Sustainable Infrastructure in the 3rd quarter valued at about $24,218,000. Invesco Ltd. boosted its stake in shares of Atlantica Sustainable Infrastructure by 23.9% in the 1st 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 during the period. Norges Bank purchased a new position in shares of Atlantica Sustainable Infrastructure in the 4th quarter valued at about $15,149,000. Millennium Management LLC boosted its stake in shares of Atlantica Sustainable Infrastructure by 200.4% in the 4th quarter. Millennium Management LLC now owns 744,018 shares of the utilities provider’s stock valued at $19,270,000 after buying an additional 496,383 shares during the period. Finally, Amundi boosted its stake in shares of Atlantica Sustainable Infrastructure by 18.4% in the 4th quarter. Amundi now owns 2,228,509 shares of the utilities provider’s stock valued at $58,381,000 after buying an additional 345,550 shares during the period. 40.53% of the stock is currently owned by hedge funds and other institutional investors.

Atlantica Sustainable Infrastructure Trading Down 1.5 %

AY opened at $17.15 on Wednesday. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 40.83, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. Atlantica Sustainable Infrastructure plc has a 52 week low of $16.35 and a 52 week high of $28.54. The business’s 50 day moving average is $18.21 and its two-hundred day moving average is $18.93. The company has a quick ratio of 1.57, a current ratio of 1.62 and a debt-to-equity ratio of 3.14.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last announced its earnings results on Friday, March 1st. The utilities provider reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.25. Atlantica Sustainable Infrastructure had a return on equity of 2.91% and a net margin of 4.43%. The company had revenue of $241.31 million for the quarter, compared to the consensus estimate of $243.81 million. During the same period last year, the business posted $0.03 EPS. On average, research analysts predict that Atlantica Sustainable Infrastructure plc will post 0.49 EPS for the current year.

Atlantica Sustainable Infrastructure Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 12th were paid a $0.445 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 10.38%. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is presently 423.82%.

Analyst Ratings Changes

Several brokerages have recently issued reports on AY. UBS Group upgraded Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $19.00 to $25.00 in a research note on Friday, March 22nd. Royal Bank of Canada cut their target price on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. National Bank Financial lowered Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, April 3rd. Bank of America cut their target price on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. Finally, StockNews.com lowered Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.