Private Trust Co. NA Increases Stake in Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Private Trust Co. NA increased its position in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) by 362.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,546 shares of the utilities provider’s stock after purchasing an additional 1,995 shares during the period. Private Trust Co. NA’s holdings in Atlantica Sustainable Infrastructure were worth $56,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AY. Manning & Napier Advisors LLC bought a new position in Atlantica Sustainable Infrastructure in the 2nd quarter valued at $2,195,000. Swedbank AB bought a new position in shares of Atlantica Sustainable Infrastructure in the first quarter worth about $4,103,000. Water Island Capital LLC purchased a new position in Atlantica Sustainable Infrastructure in the 2nd quarter worth about $13,438,000. Alpine Associates Management Inc. lifted its holdings in Atlantica Sustainable Infrastructure by 54.0% during the 3rd quarter. Alpine Associates Management Inc. now owns 1,662,509 shares of the utilities provider’s stock valued at $36,542,000 after buying an additional 582,821 shares in the last quarter. Finally, Trium Capital LLP purchased a new stake in Atlantica Sustainable Infrastructure in the 2nd quarter valued at about $2,010,000. 40.53% of the stock is currently owned by institutional investors.

Atlantica Sustainable Infrastructure Price Performance

Shares of Atlantica Sustainable Infrastructure stock opened at $21.94 on Friday. The company has a debt-to-equity ratio of 3.36, a current ratio of 1.25 and a quick ratio of 1.20. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 75.66, a PEG ratio of 2.16 and a beta of 1.03. The firm’s 50-day moving average is $22.03 and its two-hundred day moving average is $22.09. Atlantica Sustainable Infrastructure plc has a 1 year low of $16.82 and a 1 year high of $23.47.

Atlantica Sustainable Infrastructure Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 29th will be issued a dividend of $0.2225 per share. This represents a $0.89 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Friday, November 29th. Atlantica Sustainable Infrastructure’s payout ratio is 306.90%.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Atlantica Sustainable Infrastructure in a research report on Saturday. They set a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.20.

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.