Gabelli Funds LLC Invests $3.40 Million in Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Gabelli Funds LLC purchased a new stake in Atlantica Sustainable Infrastructure plc (NASDAQ:AY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 154,950 shares of the utilities provider’s stock, valued at approximately $3,401,000. Gabelli Funds LLC owned approximately 0.13% of Atlantica Sustainable Infrastructure as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in AY. Waterloo Capital L.P. bought a new stake in shares of Atlantica Sustainable Infrastructure in the 4th quarter worth $1,995,000. Hsbc Holdings PLC purchased a new stake in Atlantica Sustainable Infrastructure in the 4th quarter valued at about $1,138,000. Prevail Innovative Wealth Advisors LLC bought a new position in shares of Atlantica Sustainable Infrastructure during the 1st quarter worth approximately $1,815,000. Manning & Napier Advisors LLC bought a new position in shares of Atlantica Sustainable Infrastructure during the 2nd quarter worth approximately $2,195,000. Finally, Swedbank AB purchased a new position in shares of Atlantica Sustainable Infrastructure in the 1st quarter worth approximately $4,103,000. Institutional investors and hedge funds own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Stock Performance

Shares of AY opened at $22.00 on Wednesday. Atlantica Sustainable Infrastructure plc has a 12-month low of $16.35 and a 12-month high of $23.47. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 3.26. The company has a market cap of $2.55 billion, a PE ratio of 47.83, a price-to-earnings-growth ratio of 2.13 and a beta of 1.03. The stock has a 50-day moving average price of $22.04 and a 200-day moving average price of $21.12.

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

Atlantica Sustainable Infrastructure Announces Dividend

The firm also recently announced 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. This represents a $1.78 annualized dividend and a dividend yield of 8.09%. The ex-dividend date was Friday, August 30th. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 386.96%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. UBS Group downgraded shares of Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and cut their price target for the stock from $25.00 to $22.00 in a report on Thursday, May 30th. StockNews.com assumed coverage on shares of Atlantica Sustainable Infrastructure in a research report on Thursday, September 19th. They set a “sell” rating for the company. Seaport Res Ptn cut shares of Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, National Bankshares boosted their target price on 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Atlantica Sustainable Infrastructure has a consensus rating of “Hold” and an average target price of $22.67.

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.