Water Island Capital LLC Invests $13.44 Million in Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Water Island Capital LLC purchased a new stake in Atlantica Sustainable Infrastructure plc (NASDAQ:AY) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 612,216 shares of the utilities provider’s stock, valued at approximately $13,438,000. Atlantica Sustainable Infrastructure comprises about 1.4% of Water Island Capital LLC’s investment portfolio, making the stock its 22nd biggest position. Water Island Capital LLC owned about 0.53% of Atlantica Sustainable Infrastructure at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AY. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Atlantica Sustainable Infrastructure during the 2nd quarter worth approximately $30,000. Riverview Trust Co purchased a new position in Atlantica Sustainable Infrastructure in the 1st quarter valued at $42,000. Headlands Technologies LLC grew its position in Atlantica Sustainable Infrastructure by 499.4% in the 2nd quarter. Headlands Technologies LLC now owns 4,094 shares of the utilities provider’s stock valued at $90,000 after buying an additional 3,411 shares during the last quarter. Covestor Ltd increased its stake in Atlantica Sustainable Infrastructure by 12.8% in the 1st quarter. Covestor Ltd now owns 9,385 shares of the utilities provider’s stock valued at $173,000 after buying an additional 1,064 shares during the period. Finally, Virtu Financial LLC purchased a new position in Atlantica Sustainable Infrastructure during the 1st quarter worth $196,000. Institutional investors and hedge funds own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Stock Performance

Shares of AY opened at $22.03 on Monday. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 3.26. Atlantica Sustainable Infrastructure plc has a 52-week low of $16.35 and a 52-week high of $23.47. The company has a 50-day simple moving average of $22.04 and a 200-day simple moving average of $21.19. The company has a market capitalization of $2.56 billion, a PE ratio of 47.89, a P/E/G ratio of 2.14 and a beta of 1.03.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). The company had revenue of $328.26 million during the quarter, compared to analysts’ expectations of $315.07 million. Atlantica Sustainable Infrastructure had a net margin of 3.59% and a return on equity of 2.54%. Equities research analysts predict that Atlantica Sustainable Infrastructure plc will post 0.28 earnings per share for the current fiscal year.

Atlantica Sustainable Infrastructure Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.445 per share. The ex-dividend date was Friday, August 30th. This represents a $1.78 annualized dividend and a yield of 8.08%. Atlantica Sustainable Infrastructure’s dividend payout ratio is presently 386.96%.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Atlantica Sustainable Infrastructure in a research note on Friday. They set a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $22.67.

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.