BNP PARIBAS ASSET MANAGEMENT Holding S.A. Reduces Position in Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its stake in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) by 5.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,051 shares of the utilities provider’s stock after selling 5,199 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Atlantica Sustainable Infrastructure were worth $1,590,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AY. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Atlantica Sustainable Infrastructure during the fourth quarter valued at $27,000. Rational Advisors LLC grew its holdings in shares of Atlantica Sustainable Infrastructure by 113.8% during the first quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock valued at $36,000 after buying an additional 1,025 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of Atlantica Sustainable Infrastructure during the first quarter valued at $42,000. Clean Yield Group grew its holdings in shares of Atlantica Sustainable Infrastructure by 71.4% during the fourth quarter. Clean Yield Group now owns 6,000 shares of the utilities provider’s stock valued at $129,000 after buying an additional 2,500 shares during the last quarter. Finally, American Institute for Advanced Investment Management LLP purchased a new stake in shares of Atlantica Sustainable Infrastructure during the first quarter valued at $203,000. 40.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on AY shares. Seaport Res Ptn downgraded shares of Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 29th. BMO Capital Markets boosted their target price on shares of Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Friday, May 10th. Bank of America decreased their target price on shares of 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. UBS Group downgraded shares of Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and decreased their target price for the company from $25.00 to $22.00 in a research report on Thursday, May 30th. Finally, National Bank Financial downgraded shares of Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Atlantica Sustainable Infrastructure has a consensus rating of “Hold” and an average target price of $22.67.

Atlantica Sustainable Infrastructure Stock Performance

Atlantica Sustainable Infrastructure stock opened at $22.06 on Friday. The firm has a 50 day simple moving average of $22.20 and a 200-day simple moving average of $20.17. Atlantica Sustainable Infrastructure plc has a 1-year low of $16.35 and a 1-year high of $25.22. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.55 and a quick ratio of 1.50. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 47.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.02.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its quarterly earnings results on Tuesday, May 14th. The utilities provider reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.07. Atlantica Sustainable Infrastructure had a net margin of 4.94% and a return on equity of 3.33%. The business had revenue of $242.93 million during the quarter, compared to analysts’ expectations of $240.87 million. During the same quarter in the prior year, the company posted ($0.09) EPS. On average, analysts expect that Atlantica Sustainable Infrastructure plc will post 0.46 EPS for the current year.

Atlantica Sustainable Infrastructure Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.445 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.78 annualized dividend and a dividend yield of 8.07%. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 386.96%.

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.