Renaissance Technologies LLC Sells 80,300 Shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Renaissance Technologies LLC trimmed its position in Atlantica Sustainable Infrastructure plc (NASDAQ:AY) by 8.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 823,455 shares of the utilities provider’s stock after selling 80,300 shares during the quarter. Renaissance Technologies LLC’s holdings in Atlantica Sustainable Infrastructure were worth $18,075,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Waterloo Capital L.P. purchased a new stake in shares of Atlantica Sustainable Infrastructure in the fourth quarter worth $1,995,000. Hsbc Holdings PLC purchased a new stake in Atlantica Sustainable Infrastructure in the 4th quarter worth $1,138,000. Robeco Institutional Asset Management B.V. bought a new stake in Atlantica Sustainable Infrastructure during the fourth quarter valued at about $27,000. Prevail Innovative Wealth Advisors LLC purchased a new position in shares of Atlantica Sustainable Infrastructure in the first quarter valued at about $1,815,000. Finally, Manning & Napier Advisors LLC bought a new position in shares of Atlantica Sustainable Infrastructure in the second quarter worth about $2,195,000. Institutional investors own 40.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Seaport Res Ptn downgraded Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. UBS Group downgraded shares of Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $25.00 to $22.00 in a report on Thursday, May 30th. National Bankshares raised their target price on shares of Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 28th. Finally, StockNews.com began coverage on shares of Atlantica Sustainable Infrastructure in a research note on Thursday. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.67.

Atlantica Sustainable Infrastructure Stock Performance

Shares of NASDAQ:AY opened at $21.97 on Friday. The firm has a fifty day simple moving average of $22.04 and a two-hundred day simple moving average of $21.05. Atlantica Sustainable Infrastructure plc has a 52 week low of $16.35 and a 52 week high of $23.47. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 3.26. The stock has a market capitalization of $2.55 billion, a P/E ratio of 47.76, a PEG ratio of 2.13 and a beta of 1.03.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.06). Atlantica Sustainable Infrastructure had a return on equity of 2.54% and a net margin of 3.59%. The company had revenue of $328.26 million during the quarter, compared to analysts’ expectations of $315.07 million. On average, analysts expect that Atlantica Sustainable Infrastructure plc will post 0.28 earnings per share for the current fiscal year.

Atlantica Sustainable Infrastructure Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.445 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.78 annualized dividend and a yield of 8.10%. Atlantica Sustainable Infrastructure’s payout ratio is presently 386.96%.

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.