Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lessened its position in Atlantica Sustainable Infrastructure plc (NASDAQ:AY) by 12.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,561 shares of the utilities provider’s stock after selling 6,152 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Atlantica Sustainable Infrastructure were worth $958,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Riverview Trust Co acquired a new position in shares of Atlantica Sustainable Infrastructure during the 3rd quarter worth approximately $43,000. Rational Advisors LLC grew its holdings in Atlantica Sustainable Infrastructure by 740.8% in the 3rd quarter. Rational Advisors LLC now owns 2,186 shares of the utilities provider’s stock valued at $43,000 after buying an additional 1,926 shares in the last quarter. IFP Advisors Inc grew its holdings in Atlantica Sustainable Infrastructure by 37.1% in the 3rd quarter. IFP Advisors Inc now owns 2,578 shares of the utilities provider’s stock valued at $49,000 after buying an additional 698 shares in the last quarter. Clear Street Markets LLC acquired a new stake in shares of Atlantica Sustainable Infrastructure in the 3rd quarter worth $50,000. Finally, Clean Yield Group raised its holdings in shares of Atlantica Sustainable Infrastructure by 71.4% during the 4th quarter. Clean Yield Group now owns 6,000 shares of the utilities provider’s stock worth $129,000 after acquiring an additional 2,500 shares during the period. 40.53% of the stock is owned by institutional investors and hedge funds.

Atlantica Sustainable Infrastructure Stock Up 7.6 %

Atlantica Sustainable Infrastructure stock opened at $19.91 on Wednesday. The company has a market capitalization of $2.31 billion, a PE ratio of 47.41, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97. The company has a debt-to-equity ratio of 3.14, a quick ratio of 1.57 and a current ratio of 1.62. Atlantica Sustainable Infrastructure plc has a fifty-two week low of $16.35 and a fifty-two week high of $28.25. The firm has a 50 day moving average price of $18.21 and a 200 day moving average price of $18.97.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its quarterly earnings results on Friday, March 1st. The utilities provider reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.23) by $0.25. The business had revenue of $241.31 million during the quarter, compared to analyst estimates of $243.81 million. Atlantica Sustainable Infrastructure had a return on equity of 2.91% and a net margin of 4.43%. During the same period last year, the business posted $0.03 earnings per share. Research analysts expect that Atlantica Sustainable Infrastructure plc will post 0.5 earnings per share for the current year.

Atlantica Sustainable Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 12th were given a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 8.94%. The ex-dividend date of this dividend was Monday, March 11th. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 423.82%.

Wall Street Analyst Weigh In

AY has been the subject of several recent analyst reports. BMO Capital Markets cut their price objective on shares of Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating for the company in a research report on Tuesday, March 5th. National Bank Financial downgraded shares of Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a report on Wednesday, April 3rd. StockNews.com lowered shares of Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a research report on Tuesday. Royal Bank of Canada lowered 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, Bank of America cut their target price on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.67.

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.