Hannon Armstrong Sustainable Infrastructure Capital (NYSE:HASI) Shares Gap Up on Insider Buying Activity

Posted by Defense World Staff on Mar 18th, 2023

Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE:HASI – Get Rating) gapped up prior to trading on Friday following insider buying activity. The stock had previously closed at $23.91, but opened at $24.57. Hannon Armstrong Sustainable Infrastructure Capital shares last traded at $24.63, with a volume of 242,163 shares trading hands.

Specifically, CFO Marc T. Pangburn purchased 3,000 shares of Hannon Armstrong Sustainable Infrastructure Capital stock in a transaction on Thursday, March 16th. The stock was bought at an average cost of $24.12 per share, with a total value of $72,360.00. Following the transaction, the chief financial officer now owns 48,291 shares of the company’s stock, valued at approximately $1,164,778.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Jeffrey Eckel bought 2,087 shares of the business’s stock in a transaction dated Thursday, March 16th. The stock was purchased at an average cost of $23.92 per share, with a total value of $49,921.04. Following the acquisition, the insider now directly owns 549,894 shares in the company, valued at $13,153,464.48. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Marc T. Pangburn bought 3,000 shares of the business’s stock in a transaction dated Thursday, March 16th. The shares were purchased at an average cost of $24.12 per share, with a total value of $72,360.00. Following the completion of the acquisition, the chief financial officer now owns 48,291 shares in the company, valued at $1,164,778.92. The disclosure for this purchase can be found here. Insiders purchased 7,087 shares of company stock valued at $170,101 in the last three months. 3.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HASI. Oppenheimer cut their target price on shares of Hannon Armstrong Sustainable Infrastructure Capital from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, February 17th. Morgan Stanley dropped their price target on shares of Hannon Armstrong Sustainable Infrastructure Capital from $58.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 10th. TheStreet cut shares of Hannon Armstrong Sustainable Infrastructure Capital from a “b-” rating to a “c” rating in a research note on Thursday, February 16th. StockNews.com assumed coverage on shares of Hannon Armstrong Sustainable Infrastructure Capital in a research note on Thursday. They issued a “sell” rating on the stock. Finally, Bank of America raised shares of Hannon Armstrong Sustainable Infrastructure Capital from an “underperform” rating to a “neutral” rating and dropped their price target for the company from $39.00 to $34.00 in a research note on Tuesday, January 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.71.

Hannon Armstrong Sustainable Infrastructure Capital Stock Performance

The company has a debt-to-equity ratio of 1.79, a quick ratio of 18.57 and a current ratio of 18.57. The firm’s 50 day simple moving average is $32.92 and its 200-day simple moving average is $31.70. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 51.91, a PEG ratio of 1.33 and a beta of 1.67.

Hannon Armstrong Sustainable Infrastructure Capital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 10th. Shareholders of record on Monday, April 3rd will be paid a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a yield of 6.62%. The ex-dividend date is Friday, March 31st. This is a boost from Hannon Armstrong Sustainable Infrastructure Capital’s previous quarterly dividend of $0.38. Hannon Armstrong Sustainable Infrastructure Capital’s payout ratio is 343.48%.

Institutional Investors Weigh In On Hannon Armstrong Sustainable Infrastructure Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in HASI. Mackenzie Financial Corp boosted its position in shares of Hannon Armstrong Sustainable Infrastructure Capital by 10.3% during the 2nd quarter. Mackenzie Financial Corp now owns 48,272 shares of the real estate investment trust’s stock valued at $1,828,000 after acquiring an additional 4,509 shares during the last quarter. Edmond DE Rothschild Holding S.A. boosted its position in shares of Hannon Armstrong Sustainable Infrastructure Capital by 1.4% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 35,120 shares of the real estate investment trust’s stock valued at $1,330,000 after acquiring an additional 470 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of Hannon Armstrong Sustainable Infrastructure Capital by 52.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,481,996 shares of the real estate investment trust’s stock valued at $74,286,000 after acquiring an additional 853,936 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Hannon Armstrong Sustainable Infrastructure Capital by 2.1% during the 3rd quarter. Arizona State Retirement System now owns 23,621 shares of the real estate investment trust’s stock valued at $707,000 after acquiring an additional 497 shares during the last quarter. Finally, TCW Group Inc. acquired a new position in shares of Hannon Armstrong Sustainable Infrastructure Capital during the 3rd quarter valued at about $379,000. Institutional investors and hedge funds own 82.81% of the company’s stock.

About Hannon Armstrong Sustainable Infrastructure Capital

(Get Rating)

Hannon Armstrong Sustainable Infrastructure Capital, Inc engages in the business of investing in climate solutions and the provision of capital to assets developed by companies in energy efficiency, renewable energy, and other sustainable infrastructure markets. It focuses on generating attractive returns from a diversified portfolio of project company investments with long-term, predictable cash flows from proven technologies that reduce carbon emissions or increase resilience to climate change.