Raymond James Financial Services Advisors Inc. Has $826,000 Stock Holdings in Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Raymond James Financial Services Advisors Inc. lessened its holdings in Atlantica Sustainable Infrastructure plc (NASDAQ:AY) by 74.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC boosted its position in Atlantica Sustainable Infrastructure by 63.6% during the second quarter. FMR LLC now owns 954 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 371 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Atlantica Sustainable Infrastructure by 122.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 550 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Atlantica Sustainable Infrastructure during the 2nd quarter worth about $27,000. Lazard Asset Management LLC lifted its position in shares of Atlantica Sustainable Infrastructure by 200.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,383 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 922 shares during the last quarter. Finally, Creative Planning acquired a new position in shares of Atlantica Sustainable Infrastructure during the 3rd quarter worth about $27,000. Institutional investors and hedge funds own 40.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AY shares. Bank of America cut 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 Bank Financial cut Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, April 3rd. StockNews.com cut Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a research report on Friday, April 12th. Royal Bank of Canada cut their price objective on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating for the company in a research report on Monday, March 4th. Finally, UBS Group upgraded Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and boosted their price target for the company from $19.00 to $25.00 in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $23.67.

Atlantica Sustainable Infrastructure Trading Down 1.5 %

Shares of AY opened at $17.15 on Wednesday. Atlantica Sustainable Infrastructure plc has a 12-month low of $16.35 and a 12-month high of $28.54. The company has a quick ratio of 1.57, a current ratio of 1.62 and a debt-to-equity ratio of 3.14. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 40.83, a P/E/G ratio of 1.02 and a beta of 0.97. The stock’s 50-day moving average price is $18.21 and its 200 day moving average price is $18.93.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its quarterly earnings data 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 analyst estimates of $243.81 million. During the same period in the prior year, the company posted $0.03 EPS. As a group, research analysts predict that Atlantica Sustainable Infrastructure plc will post 0.49 earnings per share for the current year.

Atlantica Sustainable Infrastructure Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders 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 annualized dividend and a dividend yield of 10.38%. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 423.82%.

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.