Mirae Asset Global Investments Co. Ltd. Cuts Stock Holdings in Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Mirae Asset Global Investments Co. Ltd. lowered its stake in Atlantica Sustainable Infrastructure plc (NASDAQ:AY) by 12.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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.

Several other hedge funds and other institutional investors have also made changes to their positions in AY. IFP Advisors Inc raised its holdings in shares of Atlantica Sustainable Infrastructure by 37.1% during the 3rd quarter. IFP Advisors Inc now owns 2,578 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 698 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Atlantica Sustainable Infrastructure during the third quarter valued at $280,000. Riverview Trust Co bought a new position in Atlantica Sustainable Infrastructure during the third quarter valued at $43,000. Mission Wealth Management LP grew its stake in shares of Atlantica Sustainable Infrastructure by 12.0% in the 3rd quarter. Mission Wealth Management LP now owns 26,175 shares of the utilities provider’s stock worth $500,000 after buying an additional 2,809 shares in the last quarter. Finally, Ceredex Value Advisors LLC increased its holdings in shares of Atlantica Sustainable Infrastructure by 0.6% in the 3rd quarter. Ceredex Value Advisors LLC now owns 463,350 shares of the utilities provider’s stock worth $8,850,000 after buying an additional 2,550 shares during the last quarter. Institutional investors own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Stock Up 7.6 %

Shares of AY opened at $19.91 on Wednesday. The firm has a fifty day moving average price of $18.21 and a 200-day moving average price of $18.97. The company has a current ratio of 1.62, a quick ratio of 1.57 and a debt-to-equity ratio of 3.14. The firm has a market capitalization of $2.31 billion, a P/E ratio of 47.41, a P/E/G ratio of 1.01 and a beta of 0.97. Atlantica Sustainable Infrastructure plc has a 12-month low of $16.35 and a 12-month high of $28.25.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its quarterly earnings data on Friday, March 1st. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.25. The company had revenue of $241.31 million during the quarter, compared to analysts’ expectations of $243.81 million. Atlantica Sustainable Infrastructure had a net margin of 4.43% and a return on equity of 2.91%. During the same period in the previous year, the company earned $0.03 EPS. Equities 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 disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 12th were issued a dividend of $0.445 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.78 annualized dividend and a yield of 8.94%. Atlantica Sustainable Infrastructure’s payout ratio is currently 423.82%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. StockNews.com downgraded shares of Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a report on Tuesday. Bank of America cut their target price on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. Royal Bank of Canada decreased their price target on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating on the stock in a report on Monday, March 4th. UBS Group raised shares of Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $19.00 to $25.00 in a research note on Friday, March 22nd. Finally, National Bank Financial downgraded shares of Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Atlantica Sustainable Infrastructure has a consensus rating of “Hold” and an average target price of $23.67.

Atlantica Sustainable Infrastructure 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.