Quantbot Technologies LP Sells 40,899 Shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Quantbot Technologies LP lowered its position in Atlantica Sustainable Infrastructure plc (NASDAQ:AY) by 43.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 53,161 shares of the utilities provider’s stock after selling 40,899 shares during the period. Quantbot Technologies LP’s holdings in Atlantica Sustainable Infrastructure were worth $1,168,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Manning & Napier Advisors LLC acquired a new position in Atlantica Sustainable Infrastructure in the second quarter valued at about $2,195,000. Swedbank AB bought a new position in shares of Atlantica Sustainable Infrastructure during the 1st quarter valued at about $4,103,000. Water Island Capital LLC acquired a new position in shares of Atlantica Sustainable Infrastructure in the 2nd quarter valued at approximately $13,438,000. Alpine Associates Management Inc. increased its position in shares of Atlantica Sustainable Infrastructure by 54.0% during the third 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 in the last quarter. Finally, Trium Capital LLP bought a new stake in Atlantica Sustainable Infrastructure in the 2nd quarter valued at $2,010,000. Institutional investors and hedge funds own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Price Performance

AY stock opened at $21.94 on Friday. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 75.66, a P/E/G ratio of 2.16 and a beta of 1.03. Atlantica Sustainable Infrastructure plc has a twelve month low of $16.82 and a twelve month high of $23.47. The business has a 50 day moving average price of $22.03 and a two-hundred day moving average price of $22.09. The company has a quick ratio of 1.20, a current ratio of 1.25 and a debt-to-equity ratio of 3.36.

Atlantica Sustainable Infrastructure Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 29th will be paid a $0.2225 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.89 annualized dividend and a dividend yield of 4.06%. Atlantica Sustainable Infrastructure’s dividend payout ratio is presently 306.90%.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Atlantica Sustainable Infrastructure in a report on Saturday. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Atlantica Sustainable Infrastructure currently has an average rating of “Hold” and a consensus price target of $22.20.

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.