Glazer Capital LLC Invests $13.63 Million in Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Glazer Capital LLC acquired a new stake in Atlantica Sustainable Infrastructure plc (NASDAQ:AY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 620,930 shares of the utilities provider’s stock, valued at approximately $13,629,000. Atlantica Sustainable Infrastructure comprises about 1.1% of Glazer Capital LLC’s investment portfolio, making the stock its 25th biggest position. Glazer Capital LLC owned about 0.54% of Atlantica Sustainable Infrastructure as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Lazard Asset Management LLC boosted its position in Atlantica Sustainable Infrastructure by 110.8% in the first quarter. Lazard Asset Management LLC now owns 9,826,614 shares of the utilities provider’s stock valued at $181,595,000 after buying an additional 5,164,084 shares during the last quarter. Alpine Associates Management Inc. acquired a new stake in Atlantica Sustainable Infrastructure during the 2nd quarter valued at approximately $23,699,000. Norges Bank purchased a new stake in shares of Atlantica Sustainable Infrastructure in the 4th quarter valued at $15,487,000. Picton Mahoney Asset Management purchased a new stake in shares of Atlantica Sustainable Infrastructure in the 2nd quarter valued at $13,719,000. Finally, Westwood Holdings Group Inc. increased its stake in shares of Atlantica Sustainable Infrastructure by 140.3% in the fourth quarter. Westwood Holdings Group Inc. now owns 448,473 shares of the utilities provider’s stock worth $9,642,000 after acquiring an additional 261,825 shares during the period. Hedge funds and other institutional investors own 40.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AY shares. National Bankshares boosted their price objective on Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the company a “sector perform” rating in a report on Tuesday, May 28th. Seaport Res Ptn downgraded Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. StockNews.com assumed coverage on shares of Atlantica Sustainable Infrastructure in a research note on Thursday, September 19th. They set a “sell” rating on the stock. Finally, UBS Group cut shares of Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and decreased their target price for the company from $25.00 to $22.00 in a research note on Thursday, May 30th. 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.67.

Atlantica Sustainable Infrastructure Stock Up 0.2 %

AY opened at $22.02 on Tuesday. The company has a market cap of $2.56 billion, a PE ratio of 47.87, a price-to-earnings-growth ratio of 2.13 and a beta of 1.03. Atlantica Sustainable Infrastructure plc has a twelve month low of $16.35 and a twelve month high of $23.47. The company has a 50-day moving average price of $22.04 and a 200 day moving average price of $21.10. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 3.26.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.18 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $315.07 million. Sell-side analysts expect that Atlantica Sustainable Infrastructure plc will post 0.28 earnings per share for the current fiscal year.

Atlantica Sustainable Infrastructure Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 8.08%. The ex-dividend date of this dividend was Friday, August 30th. Atlantica Sustainable Infrastructure’s payout ratio is currently 386.96%.

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.