Manning & Napier Advisors LLC Buys New Shares in Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Manning & Napier Advisors LLC purchased a new stake in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 100,000 shares of the utilities provider’s stock, valued at approximately $2,195,000.

Other large investors have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. bought a new position in shares of Atlantica Sustainable Infrastructure during the fourth quarter worth $27,000. Rational Advisors LLC increased its holdings in shares of Atlantica Sustainable Infrastructure by 113.8% in the first quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 1,025 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of Atlantica Sustainable Infrastructure in the first quarter worth about $42,000. Covestor Ltd boosted its stake in Atlantica Sustainable Infrastructure by 12.8% during the first quarter. Covestor Ltd now owns 9,385 shares of the utilities provider’s stock valued at $173,000 after buying an additional 1,064 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Atlantica Sustainable Infrastructure during the 1st quarter valued at approximately $196,000. 40.53% of the stock is currently owned by hedge funds and other institutional investors.

Atlantica Sustainable Infrastructure Stock Performance

Atlantica Sustainable Infrastructure stock remained flat at $22.11 during mid-day trading on Friday. The company’s stock had a trading volume of 845,009 shares, compared to its average volume of 1,312,554. Atlantica Sustainable Infrastructure plc has a 12 month low of $16.35 and a 12 month high of $23.57. The company has a market capitalization of $2.57 billion, a PE ratio of 48.07, a PEG ratio of 1.32 and a beta of 1.02. The company has a 50 day simple moving average of $22.02 and a 200 day simple moving average of $20.33. The company has a current ratio of 1.55, a quick ratio of 1.50 and a debt-to-equity ratio of 3.25.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). The company had revenue of $328.26 million for the quarter, compared to the consensus estimate of $315.07 million. Atlantica Sustainable Infrastructure had a net margin of 3.59% and a return on equity of 2.50%. On average, equities research analysts forecast that Atlantica Sustainable Infrastructure plc will post 0.46 EPS for the current fiscal year.

Atlantica Sustainable Infrastructure Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.445 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.78 annualized dividend and a yield of 8.05%. Atlantica Sustainable Infrastructure’s payout ratio is currently 386.96%.

Analyst Ratings Changes

Several analysts have recently issued reports on AY shares. StockNews.com started coverage on Atlantica Sustainable Infrastructure in a report on Friday, August 2nd. They set a “sell” rating on the stock. Seaport Res Ptn cut shares of Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. BMO Capital Markets upped 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. UBS Group lowered Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $25.00 to $22.00 in a research report on Thursday, May 30th. Finally, National Bankshares upped their price objective on Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $22.67.

About Atlantica Sustainable Infrastructure

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.