Formidable Asset Management LLC lowered its position in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) by 74.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 6,598 shares of the utilities provider’s stock after selling 19,414 shares during the quarter. Formidable Asset Management LLC’s holdings in Atlantica Sustainable Infrastructure were worth $228,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of AY. FMR LLC purchased a new stake in shares of Atlantica Sustainable Infrastructure during the 1st quarter worth about $26,976,000. Amundi purchased a new position in Atlantica Sustainable Infrastructure in the 2nd quarter worth approximately $13,483,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Atlantica Sustainable Infrastructure by 74.4% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 712,300 shares of the utilities provider’s stock worth $26,512,000 after acquiring an additional 303,942 shares during the period. Morgan Stanley boosted its holdings in Atlantica Sustainable Infrastructure by 5.1% in the 2nd quarter. Morgan Stanley now owns 6,121,375 shares of the utilities provider’s stock worth $227,838,000 after acquiring an additional 296,154 shares during the period. Finally, BlackRock Inc. boosted its holdings in Atlantica Sustainable Infrastructure by 10.6% in the 3rd quarter. BlackRock Inc. now owns 2,299,385 shares of the utilities provider’s stock worth $79,352,000 after acquiring an additional 221,140 shares during the period. Institutional investors and hedge funds own 87.88% of the company’s stock.
A number of equities analysts have weighed in on the company. Jonestrading assumed coverage on Atlantica Sustainable Infrastructure in a report on Monday, October 11th. They issued a “buy” rating and a $46.00 price target for the company. Zacks Investment Research cut Atlantica Sustainable Infrastructure from a “hold” rating to a “strong sell” rating in a research note on Tuesday. KeyCorp started coverage on Atlantica Sustainable Infrastructure in a research note on Tuesday, September 21st. They set a “sector weight” rating for the company. Morgan Stanley cut Atlantica Sustainable Infrastructure from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $44.00 to $39.00 in a research note on Thursday. Finally, Raymond James set a $47.00 target price on Atlantica Sustainable Infrastructure and gave the company an “outperform” rating in a research note on Friday, November 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Atlantica Sustainable Infrastructure currently has an average rating of “Hold” and a consensus price target of $42.86.
Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its quarterly earnings results on Wednesday, November 10th. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.70). Atlantica Sustainable Infrastructure had a negative return on equity of 3.76% and a negative net margin of 5.69%. The business had revenue of $329.24 million during the quarter, compared to the consensus estimate of $333.20 million. During the same period in the previous year, the company posted $0.86 EPS. On average, equities research analysts predict that Atlantica Sustainable Infrastructure plc will post -0.03 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Investors of record on Tuesday, November 30th were paid a dividend of $0.435 per share. The ex-dividend date of this dividend was Monday, November 29th. This represents a $1.74 annualized dividend and a yield of 5.26%. This is a boost from Atlantica Sustainable Infrastructure’s previous quarterly dividend of $0.43. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is currently -276.19%.
Atlantica Sustainable Infrastructure Company Profile
Atlantica Sustainable Infrastructure Plc engages in the ownership, management, and acquisition of renewable energy. It specializes in the following businesses: Renewable Energy; Natural Gas; Electrical Transmission; and Water. The Renewable Energy business includes production of electricity from solar power and wind plants.
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