D.A. Davidson & CO. Reduces Position in Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

D.A. Davidson & CO. decreased its stake in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AYGet Rating) by 7.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,450 shares of the utilities provider’s stock after selling 1,050 shares during the period. D.A. Davidson & CO.’s holdings in Atlantica Sustainable Infrastructure were worth $437,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AY. Clearstead Advisors LLC increased its position in Atlantica Sustainable Infrastructure by 1,330.2% during the fourth quarter. Clearstead Advisors LLC now owns 758 shares of the utilities provider’s stock worth $27,000 after buying an additional 705 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Atlantica Sustainable Infrastructure by 122.2% during the first quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 550 shares during the period. Quent Capital LLC purchased a new stake in Atlantica Sustainable Infrastructure during the fourth quarter valued at about $36,000. Credit Agricole S A grew its position in Atlantica Sustainable Infrastructure by 25.4% during the fourth quarter. Credit Agricole S A now owns 2,855 shares of the utilities provider’s stock valued at $102,000 after acquiring an additional 579 shares during the period. Finally, WASHINGTON TRUST Co purchased a new stake in Atlantica Sustainable Infrastructure during the first quarter valued at about $123,000. Hedge funds and other institutional investors own 40.05% of the company’s stock.

Atlantica Sustainable Infrastructure Trading Up 3.0 %

NASDAQ:AY opened at $32.96 on Thursday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 2.01 and a current ratio of 2.07. Atlantica Sustainable Infrastructure plc has a one year low of $28.82 and a one year high of $41.32. The business’s 50-day simple moving average is $33.91 and its 200 day simple moving average is $33.35. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of -206.00 and a beta of 0.74.

Atlantica Sustainable Infrastructure (NASDAQ:AYGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The utilities provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.17). The firm had revenue of $307.83 million during the quarter, compared to the consensus estimate of $338.04 million. Atlantica Sustainable Infrastructure had a negative net margin of 1.66% and a negative return on equity of 1.08%. During the same period in the prior year, the firm earned $0.11 earnings per share. As a group, sell-side analysts predict that Atlantica Sustainable Infrastructure plc will post 0.49 earnings per share for the current fiscal year.

Atlantica Sustainable Infrastructure Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be issued a $0.445 dividend. This is a positive change from Atlantica Sustainable Infrastructure’s previous quarterly dividend of $0.44. This represents a $1.78 annualized dividend and a yield of 5.40%. The ex-dividend date of this dividend is Tuesday, August 30th. Atlantica Sustainable Infrastructure’s payout ratio is currently -1,112.50%.

Analyst Ratings Changes

A number of research analysts have commented on AY shares. JPMorgan Chase & Co. boosted their price objective on Atlantica Sustainable Infrastructure from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, August 8th. Bank of America upgraded Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Thursday, May 12th. UBS Group boosted their price objective on Atlantica Sustainable Infrastructure from $33.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, August 4th. Finally, BMO Capital Markets boosted their price objective on Atlantica Sustainable Infrastructure from $33.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, August 4th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $38.75.

About Atlantica Sustainable Infrastructure

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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. It owns 39 assets comprising 2,044 megawatts (MW) of aggregate renewable energy installed generation capacity; 343 MW of natural gas-fired power generation capacity; 55 thermal megawatts of district heating capacity; 1,229 miles of electric transmission lines; and 17.5 million cubic feet per day of water desalination assets.

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Institutional Ownership by Quarter for Atlantica Sustainable Infrastructure (NASDAQ:AY)

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