Baird Financial Group Inc. Has $4.17 Million Holdings in Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

06 Dec 2023, 13:53 by Kim Johansen · The Markets Daily

Baird Financial Group Inc. trimmed its stake in Atlantica Sustainable Infrastructure plc (NASDAQ:AY – Free Report) by 4.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 177,718 shares of the utilities provider’s stock after selling 8,549 shares during the period. Baird Financial Group Inc. owned about 0.16% of Atlantica Sustainable Infrastructure worth $4,166,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of AY. FMR LLC raised its stake in Atlantica Sustainable Infrastructure by 63.6% during the second quarter. FMR LLC now owns 954 shares of the utilities provider’s stock worth $31,000 after buying an additional 371 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Atlantica Sustainable Infrastructure during the 4th quarter worth about $32,000. PNC Financial Services Group Inc. raised its position in shares of Atlantica Sustainable Infrastructure by 122.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 550 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of Atlantica Sustainable Infrastructure by 291.7% in the 2nd quarter. IFP Advisors Inc now owns 1,880 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 1,400 shares during the period. Finally, Resources Management Corp CT ADV bought a new stake in shares of Atlantica Sustainable Infrastructure during the 1st quarter valued at about $37,000. 41.06% of the stock is owned by institutional investors.

Atlantica Sustainable Infrastructure Stock Down 0.8 %

Shares of NASDAQ AY opened at $19.55 on Wednesday. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.75 and a quick ratio of 1.70. The company has a 50-day moving average price of $18.35 and a 200-day moving average price of $21.55. The stock has a market capitalization of $2.20 billion, a P/E ratio of 45.47 and a beta of 0.88. Atlantica Sustainable Infrastructure plc has a 1 year low of $16.35 and a 1 year high of $29.81.

Atlantica Sustainable Infrastructure (NASDAQ:AY – Get Free Report) last announced its quarterly earnings results on Wednesday, November 8th. The utilities provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.08). The business had revenue of $303.96 million during the quarter, compared to the consensus estimate of $322.36 million. Atlantica Sustainable Infrastructure had a net margin of 4.54% and a return on equity of 2.90%. On average, equities research analysts forecast that Atlantica Sustainable Infrastructure plc will post 0.29 EPS for the current fiscal year.

Atlantica Sustainable Infrastructure Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $0.445 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.78 annualized dividend and a dividend yield of 9.10%. Atlantica Sustainable Infrastructure’s payout ratio is 413.95%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AY. JPMorgan Chase & Co. lowered their target price on Atlantica Sustainable Infrastructure from $27.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, October 19th. Royal Bank of Canada dropped their target price on shares of Atlantica Sustainable Infrastructure from $34.00 to $26.00 and set an “outperform” rating on the stock in a research report on Thursday, November 9th. StockNews.com initiated coverage on shares of Atlantica Sustainable Infrastructure in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Raymond James downgraded shares of Atlantica Sustainable Infrastructure from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $36.00 to $25.00 in a research note on Thursday, October 26th. Finally, National Bank Financial cut their price objective on shares of Atlantica Sustainable Infrastructure from $29.00 to $25.00 in a research report on Wednesday, October 11th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Atlantica Sustainable Infrastructure has a consensus rating of “Hold” and an average target price of $24.63.

Get Our Latest Stock Analysis on AY

About Atlantica Sustainable Infrastructure

(Free Report)

Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in the United States, Canada, Mexico, Peru, Chile, Colombia, Uruguay, Spain, Italy, Algeria, and South Africa. The company was formerly known as Atlantica Yield plc and changed its name to Atlantica Sustainable Infrastructure plc in May 2020.

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