Raymond James Financial Services Advisors Inc. Trims Holdings in Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Raymond James Financial Services Advisors Inc. lowered its position in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY - Free Report) by 74.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. FMR LLC raised its holdings in Atlantica Sustainable Infrastructure by 63.6% during the second quarter. FMR LLC now owns 954 shares of the utilities provider's stock worth $31,000 after acquiring an additional 371 shares in the last quarter. Virtu Financial LLC raised its stake in shares of Atlantica Sustainable Infrastructure by 4.0% during the 4th quarter. Virtu Financial LLC now owns 10,241 shares of the utilities provider's stock worth $265,000 after purchasing an additional 395 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Atlantica Sustainable Infrastructure by 122.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the utilities provider's stock valued at $35,000 after buying an additional 550 shares during the last quarter. Insight Folios Inc grew its stake in shares of Atlantica Sustainable Infrastructure by 2.5% in the fourth quarter. Insight Folios Inc now owns 23,000 shares of the utilities provider's stock valued at $494,000 after buying an additional 566 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Atlantica Sustainable Infrastructure by 0.3% during the second quarter. Northern Trust Corp now owns 181,592 shares of the utilities provider's stock worth $5,858,000 after buying an additional 576 shares during the last quarter. 40.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports 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. StockNews.com cut shares of Atlantica Sustainable Infrastructure from a "hold" rating to a "sell" rating in a research report on Friday, April 12th. National Bank Financial lowered shares of Atlantica Sustainable Infrastructure from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, April 3rd. Royal Bank of Canada cut their target price on shares of Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an "outperform" rating for the company in a research note on Monday, March 4th. Finally, BMO Capital Markets decreased their price target on shares of Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a "market perform" rating on the stock in a research note on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $23.67.

Atlantica Sustainable Infrastructure Price Performance

Shares of NASDAQ AY traded up $0.52 during midday trading on Wednesday, reaching $17.67. 1,264,990 shares of the company were exchanged, compared to its average volume of 876,985. The stock's 50-day moving average price is $18.21 and its 200-day moving average price is $18.93. The stock has a market cap of $2.05 billion, a P/E ratio of 40.83, a PEG ratio of 0.97 and a beta of 0.97. The company has a quick ratio of 1.57, a current ratio of 1.62 and a debt-to-equity ratio of 3.14. Atlantica Sustainable Infrastructure plc has a one year low of $16.35 and a one year high of $28.54.

Atlantica Sustainable Infrastructure (NASDAQ:AY - Get Free Report) last posted its earnings results on Friday, March 1st. The utilities provider reported $0.02 earnings per share for the quarter, topping analysts' consensus estimates of ($0.23) by $0.25. Atlantica Sustainable Infrastructure had a net margin of 4.43% and a return on equity of 2.91%. The firm had revenue of $241.31 million for the quarter, compared to analyst estimates of $243.81 million. During the same period in the previous year, the firm posted $0.03 EPS. On average, sell-side analysts anticipate that Atlantica Sustainable Infrastructure plc will post 0.49 earnings per share for the current fiscal 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 dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 10.07%. The ex-dividend date of this dividend was Monday, March 11th. Atlantica Sustainable Infrastructure's dividend payout ratio is presently 423.82%.

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.