State Street Corp decreased its stake in Atlantica Yield PLC (NASDAQ:ABY) by 0.4% during the first quarter, Holdings Channel reports. The institutional investor owned 979,777 shares of the utilities provider’s stock after selling 4,329 shares during the period. State Street Corp’s holdings in Atlantica Yield PLC were worth $20,532,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in ABY. Renaissance Technologies LLC bought a new stake in shares of Atlantica Yield PLC during the first quarter valued at approximately $2,639,000. Morgan Stanley raised its stake in shares of Atlantica Yield PLC by 16.3% in the first quarter. Morgan Stanley now owns 3,873,520 shares of the utilities provider’s stock valued at $81,189,000 after buying an additional 541,651 shares in the last quarter. UBS Group AG raised its stake in shares of Atlantica Yield PLC by 10.0% in the first quarter. UBS Group AG now owns 35,166 shares of the utilities provider’s stock valued at $738,000 after buying an additional 3,184 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Atlantica Yield PLC during the first quarter valued at approximately $3,171,000. Finally, Geode Capital Management LLC raised its stake in shares of Atlantica Yield PLC by 13.9% in the first quarter. Geode Capital Management LLC now owns 150,890 shares of the utilities provider’s stock valued at $3,162,000 after buying an additional 18,451 shares in the last quarter. Hedge funds and other institutional investors own 51.73% of the company’s stock.
Atlantica Yield PLC (NASDAQ:ABY) traded up 0.24% on Monday, reaching $21.17. 39,596 shares of the company’s stock were exchanged. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 68.29 and a beta of 1.12. The stock’s 50 day moving average price is $21.04 and its 200 day moving average price is $20.89. Atlantica Yield PLC has a 1-year low of $16.55 and a 1-year high of $22.87.
Atlantica Yield PLC (NASDAQ:ABY) last issued its earnings results on Monday, May 15th. The utilities provider reported ($0.12) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.07. The company had revenue of $198.15 million for the quarter, compared to analysts’ expectations of $208 million. Atlantica Yield PLC had a net margin of 3.15% and a return on equity of 1.58%. On average, analysts expect that Atlantica Yield PLC will post $0.49 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.92%. This is a boost from Atlantica Yield PLC’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, August 29th. Atlantica Yield PLC’s dividend payout ratio is 333.33%.
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Several brokerages recently commented on ABY. BidaskClub lowered shares of Atlantica Yield PLC from a “hold” rating to a “sell” rating in a research note on Friday. Zacks Investment Research upgraded shares of Atlantica Yield PLC from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, July 11th. TheStreet upgraded shares of Atlantica Yield PLC from a “d” rating to a “c-” rating in a research note on Monday, June 12th. Finally, ValuEngine upgraded shares of Atlantica Yield PLC from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. Atlantica Yield PLC has a consensus rating of “Buy” and an average target price of $22.80.
Atlantica Yield PLC Company Profile
Atlantica Yield plc, formerly Abengoa Yield plc, is a total return company. The Company owns, manages, and acquires renewable energy, conventional power, electric transmission lines and water assets, focused on North America (the United States and Mexico), South America (Peru, Chile, Brazil and Uruguay) and Europe, Middle East and Africa (Spain, Algeria and South Africa).
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