Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Shares Bought by Alpine Associates Management Inc.

Alpine Associates Management Inc. raised its stake in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY - Free Report) by 54.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,662,509 shares of the utilities provider's stock after purchasing an additional 582,821 shares during the period. Atlantica Sustainable Infrastructure accounts for approximately 1.7% of Alpine Associates Management Inc.'s holdings, making the stock its 16th biggest position. Alpine Associates Management Inc. owned 1.43% of Atlantica Sustainable Infrastructure worth $36,542,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AY. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Atlantica Sustainable Infrastructure in the second quarter worth approximately $30,000. Headlands Technologies LLC lifted its holdings in Atlantica Sustainable Infrastructure by 499.4% during the second quarter. Headlands Technologies LLC now owns 4,094 shares of the utilities provider's stock worth $90,000 after buying an additional 3,411 shares during the period. Virtu Financial LLC purchased a new position in shares of Atlantica Sustainable Infrastructure in the 1st quarter valued at $196,000. Bright Futures Wealth Management LLC. purchased a new stake in shares of Atlantica Sustainable Infrastructure during the 1st quarter worth $236,000. Finally, SG Americas Securities LLC raised its stake in shares of Atlantica Sustainable Infrastructure by 61.0% during the 1st quarter. SG Americas Securities LLC now owns 16,378 shares of the utilities provider's stock worth $303,000 after acquiring an additional 6,203 shares in the last quarter. Hedge funds and other institutional investors own 40.53% of the company's stock.

Atlantica Sustainable Infrastructure Price Performance

Shares of Atlantica Sustainable Infrastructure stock remained flat at $22.13 on Wednesday. The stock had a trading volume of 3,653,807 shares, compared to its average volume of 1,220,846. The business has a 50-day simple moving average of $22.00 and a 200-day simple moving average of $22.09. Atlantica Sustainable Infrastructure plc has a 1-year low of $16.82 and a 1-year high of $23.47. The firm has a market capitalization of $2.57 billion, a P/E ratio of 76.31, a P/E/G ratio of 2.15 and a beta of 1.03. 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.2225 per share. The ex-dividend date is Friday, November 29th. This represents a $0.89 annualized dividend and a yield of 4.02%. Atlantica Sustainable Infrastructure's dividend payout ratio (DPR) is 613.81%.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Atlantica Sustainable Infrastructure in a research note on Thursday, November 14th. They set a "sell" rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on 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 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.