Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in Atlantica Sustainable Infrastructure plc (NASDAQ:AY) by 32.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,409 shares of the utilities provider’s stock after selling 119,042 shares during the period. Charles Schwab Investment Management Inc. owned 0.21% of Atlantica Sustainable Infrastructure worth $5,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Alpine Associates Management Inc. boosted its stake 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 valued at $36,542,000 after acquiring an additional 582,821 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Atlantica Sustainable Infrastructure during the third quarter worth about $1,356,000. Entropy Technologies LP acquired a new position in shares of Atlantica Sustainable Infrastructure in the third quarter valued at approximately $567,000. Wolverine Asset Management LLC lifted its stake in shares of Atlantica Sustainable Infrastructure by 321.5% during the third quarter. Wolverine Asset Management LLC now owns 105,803 shares of the utilities provider’s stock valued at $2,326,000 after buying an additional 80,703 shares during the period. Finally, Insight Folios Inc boosted its position in Atlantica Sustainable Infrastructure by 2.4% during the third quarter. Insight Folios Inc now owns 24,655 shares of the utilities provider’s stock worth $542,000 after acquiring an additional 576 shares during the last quarter. Hedge funds and other institutional investors own 40.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Atlantica Sustainable Infrastructure in a research note on Sunday, December 8th. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Atlantica Sustainable Infrastructure presently has a consensus rating of “Hold” and a consensus target price of $22.20.

Atlantica Sustainable Infrastructure Stock Performance

Shares of AY stock opened at $21.99 on Friday. The firm has a market cap of $2.55 billion, a P/E ratio of 75.83, a PEG ratio of 2.14 and a beta of 1.00. The stock’s 50-day moving average is $22.03 and its two-hundred day moving average is $22.04. Atlantica Sustainable Infrastructure plc has a fifty-two week low of $16.82 and a fifty-two week high of $23.47. The company has a debt-to-equity ratio of 3.36, a current ratio of 1.25 and a quick ratio of 1.20.

Atlantica Sustainable Infrastructure Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 29th were paid a $0.2225 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.89 annualized dividend and a dividend yield of 4.05%. Atlantica Sustainable Infrastructure’s dividend payout ratio is presently 306.90%.

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.