Melqart Asset Management UK Ltd Raises Position in Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Melqart Asset Management UK Ltd grew its position in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) by 4.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,337,755 shares of the utilities provider’s stock after acquiring an additional 53,680 shares during the period. Atlantica Sustainable Infrastructure comprises about 2.7% of Melqart Asset Management UK Ltd’s holdings, making the stock its 11th largest holding. Melqart Asset Management UK Ltd’s holdings in Atlantica Sustainable Infrastructure were worth $29,404,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AY. Alpine Associates Management Inc. bought a new position in shares of Atlantica Sustainable Infrastructure in the 2nd quarter worth about $23,699,000. Westchester Capital Management LLC increased its stake in shares of Atlantica Sustainable Infrastructure by 305.3% during the third quarter. Westchester Capital Management LLC now owns 1,143,722 shares of the utilities provider’s stock valued at $25,139,000 after purchasing an additional 861,541 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Atlantica Sustainable Infrastructure during the second quarter valued at approximately $13,719,000. Glazer Capital LLC bought a new stake in shares of Atlantica Sustainable Infrastructure in the 2nd quarter worth approximately $13,629,000. Finally, Water Island Capital LLC purchased a new stake in shares of Atlantica Sustainable Infrastructure in the 2nd quarter worth approximately $13,438,000. Institutional investors own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Stock Performance

AY stock opened at $21.96 on Wednesday. The stock’s 50 day simple moving average is $22.03 and its 200 day simple moving average is $22.07. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 3.36. Atlantica Sustainable Infrastructure plc has a 12-month low of $16.82 and a 12-month high of $23.47. The stock has a market capitalization of $2.55 billion, a PE ratio of 75.73, a price-to-earnings-growth ratio of 2.13 and a beta of 1.00.

Atlantica Sustainable Infrastructure Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 29th will be issued 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 payout ratio is 306.91%.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Atlantica Sustainable Infrastructure in a report on Saturday. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $22.20.

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.