Melqart Asset Management UK Ltd Grows Stock Holdings in Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Melqart Asset Management UK Ltd boosted its stake in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY - Free Report) by 4.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,337,755 shares of the utilities provider's stock after buying an additional 53,680 shares during the period. Atlantica Sustainable Infrastructure accounts for about 2.7% of Melqart Asset Management UK Ltd's investment portfolio, making the stock its 11th biggest holding. Melqart Asset Management UK Ltd owned approximately 1.15% of Atlantica Sustainable Infrastructure worth $29,404,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Manning & Napier Advisors LLC acquired a new position in shares of Atlantica Sustainable Infrastructure in the 2nd quarter valued at $2,195,000. Water Island Capital LLC acquired a new position in shares of Atlantica Sustainable Infrastructure in the 2nd quarter valued at $13,438,000. Alpine Associates Management Inc. increased its position in shares of Atlantica Sustainable Infrastructure by 54.0% in the 3rd 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 period. Trium Capital LLP acquired a new position in shares of Atlantica Sustainable Infrastructure in the 2nd quarter valued at $2,010,000. Finally, Tidal Investments LLC increased its position in shares of Atlantica Sustainable Infrastructure by 4.4% in the 1st quarter. Tidal Investments LLC now owns 35,474 shares of the utilities provider's stock valued at $656,000 after acquiring an additional 1,503 shares during the period. Hedge funds and other institutional investors own 40.53% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Atlantica Sustainable Infrastructure in a report on Saturday. They issued a "sell" rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $22.20.

Atlantica Sustainable Infrastructure Trading Down 0.0 %

Atlantica Sustainable Infrastructure stock traded down $0.01 during trading on Wednesday, hitting $21.95. The company had a trading volume of 1,093,888 shares, compared to its average volume of 1,204,833. Atlantica Sustainable Infrastructure plc has a 1-year low of $16.82 and a 1-year high of $23.47. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 3.36. The company's 50 day simple moving average is $22.03 and its 200-day simple moving average is $22.07. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 75.76, a price-to-earnings-growth ratio of 2.13 and a beta of 1.00.

Atlantica Sustainable Infrastructure Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 29th will be given a $0.2225 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.89 annualized dividend and a yield of 4.05%. Atlantica Sustainable Infrastructure's dividend payout ratio is presently 306.90%.

Atlantica Sustainable Infrastructure Company 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.