Charles Schwab Investment Management Inc. Has $5.33 Million Stock Position in Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Charles Schwab Investment Management Inc. reduced its stake in Atlantica Sustainable Infrastructure plc (NASDAQ:AY) by 32.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 242,409 shares of the utilities provider’s stock after selling 119,042 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Atlantica Sustainable Infrastructure were worth $5,328,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Alpine Associates Management Inc. boosted its position in Atlantica Sustainable Infrastructure by 54.0% during the 3rd quarter. Alpine Associates Management Inc. now owns 1,662,509 shares of the utilities provider’s stock worth $36,542,000 after acquiring an additional 582,821 shares during the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Atlantica Sustainable Infrastructure in the second quarter valued at about $13,719,000. Glazer Capital LLC acquired a new position in Atlantica Sustainable Infrastructure during the second quarter valued at approximately $13,629,000. Water Island Capital LLC bought a new position in Atlantica Sustainable Infrastructure in the second quarter valued at approximately $13,438,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in shares of Atlantica Sustainable Infrastructure in the 3rd quarter valued at approximately $5,385,000. Institutional investors own 40.53% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Atlantica Sustainable Infrastructure in a research note on Sunday, December 8th. They set a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $22.20.

Atlantica Sustainable Infrastructure Stock Performance

NASDAQ:AY opened at $21.99 on Friday. The stock’s 50-day moving average is $22.03 and its 200-day moving average is $22.04. Atlantica Sustainable Infrastructure plc has a 1-year low of $16.82 and a 1-year high of $23.47. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 3.36. The stock has a market cap of $2.55 billion, a P/E ratio of 75.83, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00.

Atlantica Sustainable Infrastructure Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 29th were paid a dividend of $0.2225 per share. This represents a $0.89 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend was Friday, November 29th. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is currently 306.90%.

Atlantica Sustainable Infrastructure 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.