McGowan Group Asset Management Inc. lessened its holdings in Atlantica Sustainable Infrastructure plc (NASDAQ:AY) by 1.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 420,463 shares of the utilities provider’s stock after selling 5,280 shares during the period. Atlantica Sustainable Infrastructure makes up approximately 2.5% of McGowan Group Asset Management Inc.’s holdings, making the stock its 13th biggest holding. McGowan Group Asset Management Inc.’s holdings in Atlantica Sustainable Infrastructure were worth $15,650,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Quadrant Capital Group LLC bought a new position in Atlantica Sustainable Infrastructure in the 1st quarter valued at $30,000. Quantbot Technologies LP bought a new position in shares of Atlantica Sustainable Infrastructure during the 1st quarter worth $39,000. Captrust Financial Advisors grew its position in shares of Atlantica Sustainable Infrastructure by 38.5% during the 1st quarter. Captrust Financial Advisors now owns 1,400 shares of the utilities provider’s stock worth $51,000 after buying an additional 389 shares in the last quarter. Clean Yield Group bought a new position in shares of Atlantica Sustainable Infrastructure during the 2nd quarter worth $56,000. Finally, BNP Paribas Arbitrage SA bought a new position in shares of Atlantica Sustainable Infrastructure during the 1st quarter worth $63,000. 42.64% of the stock is currently owned by institutional investors.
AY stock traded up $0.51 during trading on Wednesday, reaching $36.57. 5,568 shares of the company traded hands, compared to its average volume of 830,735. Atlantica Sustainable Infrastructure plc has a 12 month low of $26.31 and a 12 month high of $48.49. The business has a 50 day simple moving average of $38.26 and a 200 day simple moving average of $37.29. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 109.27 and a beta of 0.65. The company has a debt-to-equity ratio of 3.15, a quick ratio of 1.33 and a current ratio of 1.39.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Tuesday, August 31st were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date was Monday, August 30th. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is presently 1,433.33%.
A number of research firms have recently issued reports on AY. Raymond James reissued an “outperform” rating and set a $47.00 price target on shares of Atlantica Sustainable Infrastructure in a research report on Wednesday, August 4th. KeyCorp began coverage on Atlantica Sustainable Infrastructure in a research report on Tuesday. They set a “sector weight” rating on the stock. Tudor Pickering began coverage on Atlantica Sustainable Infrastructure in a research report on Monday, June 28th. They set a “hold” rating and a $42.00 price target on the stock. Morgan Stanley increased their price target on Atlantica Sustainable Infrastructure from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, August 19th. Finally, UBS Group started coverage on Atlantica Sustainable Infrastructure in a research report on Thursday, August 26th. They set a “neutral” rating and a $40.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $42.67.
About Atlantica Sustainable Infrastructure
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.
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