Citigroup Inc. Purchases 18,314 Shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Posted by Defense World Staff on May 23rd, 2023

Citigroup Inc. lifted its position in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY – Get Rating) by 15.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 134,854 shares of the utilities provider’s stock after buying an additional 18,314 shares during the quarter. Citigroup Inc. owned approximately 0.12% of Atlantica Sustainable Infrastructure worth $3,493,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in AY. FMR LLC raised its stake in shares of Atlantica Sustainable Infrastructure by 63.6% in the second quarter. FMR LLC now owns 954 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 371 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Atlantica Sustainable Infrastructure by 122.2% in the first quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 550 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Atlantica Sustainable Infrastructure by 200.0% in the first quarter. Lazard Asset Management LLC now owns 1,383 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 922 shares during the last quarter. CWM LLC boosted its stake in shares of Atlantica Sustainable Infrastructure by 94.6% in the fourth quarter. CWM LLC now owns 1,397 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 679 shares during the last quarter. Finally, Neo Ivy Capital Management boosted its stake in Atlantica Sustainable Infrastructure by 3,253.2% during the third quarter. Neo Ivy Capital Management now owns 1,576 shares of the utilities provider’s stock worth $41,000 after buying an additional 1,529 shares during the last quarter. Institutional investors own 39.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AY shares. National Bank Financial upgraded Atlantica Sustainable Infrastructure from a “sector perform” rating to an “outperform” rating and set a $31.00 price target on the stock in a report on Monday, May 8th. Morgan Stanley dropped their price target on Atlantica Sustainable Infrastructure from $36.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Monday, January 30th. Bank of America upgraded Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Wednesday, March 8th. JPMorgan Chase & Co. lowered their target price on Atlantica Sustainable Infrastructure from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, March 2nd. Finally, StockNews.com started coverage on Atlantica Sustainable Infrastructure in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $31.75.

Atlantica Sustainable Infrastructure Trading Up 1.6 %

NASDAQ:AY opened at $25.41 on Tuesday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.94 and a current ratio of 2.00. Atlantica Sustainable Infrastructure plc has a one year low of $24.42 and a one year high of $36.35. The business’s 50-day simple moving average is $27.13 and its 200 day simple moving average is $27.10. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of -846.72, a price-to-earnings-growth ratio of 3.19 and a beta of 0.84.

Atlantica Sustainable Infrastructure (NASDAQ:AY – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The utilities provider reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.23. Atlantica Sustainable Infrastructure had a negative return on equity of 0.25% and a negative net margin of 0.40%. The firm had revenue of $243.62 million for the quarter, compared to analysts’ expectations of $250.09 million. As a group, sell-side analysts predict that Atlantica Sustainable Infrastructure plc will post 0.16 earnings per share for the current fiscal year.

Atlantica Sustainable Infrastructure Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 7.01%. The ex-dividend date of this dividend is Tuesday, May 30th. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is presently -5,931.36%.

Atlantica Sustainable Infrastructure Profile

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Atlantica Sustainable Infrastructure Plc engages in the ownership, management, and acquisition of renewable energy. It specializes in the following businesses: Renewable Energy; Natural Gas; Electrical Transmission; and Water. The Renewable Energy business includes production of electricity from solar power and wind plants.