PFG Investments LLC Sells 22,688 Shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

PFG Investments LLC lessened its position in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) by 49.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,810 shares of the utilities provider’s stock after selling 22,688 shares during the quarter. PFG Investments LLC’s holdings in Atlantica Sustainable Infrastructure were worth $501,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC grew its holdings in Atlantica Sustainable Infrastructure by 110.8% in the first quarter. Lazard Asset Management LLC now owns 9,826,614 shares of the utilities provider’s stock worth $181,595,000 after purchasing an additional 5,164,084 shares during the last quarter. Norges Bank purchased a new stake in shares of Atlantica Sustainable Infrastructure during the 4th quarter valued at $15,487,000. Picton Mahoney Asset Management acquired a new stake in shares of Atlantica Sustainable Infrastructure in the 2nd quarter worth $13,719,000. Beck Bode LLC grew its stake in Atlantica Sustainable Infrastructure by 30.9% during the 1st quarter. Beck Bode LLC now owns 609,940 shares of the utilities provider’s stock worth $11,272,000 after buying an additional 143,996 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its position in Atlantica Sustainable Infrastructure by 140.3% during the 4th quarter. Westwood Holdings Group Inc. now owns 448,473 shares of the utilities provider’s stock valued at $9,642,000 after buying an additional 261,825 shares in the last quarter. Hedge funds and other institutional investors own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Price Performance

Shares of AY opened at $21.89 on Thursday. The business’s 50-day moving average is $22.06 and its two-hundred day moving average is $20.85. The company has a market capitalization of $2.54 billion, a P/E ratio of 47.59, a P/E/G ratio of 1.39 and a beta of 1.03. Atlantica Sustainable Infrastructure plc has a fifty-two week low of $16.35 and a fifty-two week high of $23.47. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.30 and a current ratio of 1.35.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its earnings results on Thursday, August 1st. The utilities provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.06). Atlantica Sustainable Infrastructure had a return on equity of 2.54% and a net margin of 3.59%. The company had revenue of $328.26 million for the quarter, compared to analyst estimates of $315.07 million. Research analysts predict that Atlantica Sustainable Infrastructure plc will post 0.43 earnings per share for the current year.

Atlantica Sustainable Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 8.13%. The ex-dividend date is Friday, August 30th. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 386.96%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AY shares. Seaport Res Ptn downgraded Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. National Bankshares lifted their target price on shares of Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 28th. UBS Group lowered shares of Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and cut their price target for the company from $25.00 to $22.00 in a research note on Thursday, May 30th. Finally, StockNews.com began coverage on shares of Atlantica Sustainable Infrastructure in a research note on Wednesday. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.67.

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.