Vanguard Group Inc. Reduces Position in Atlantica Yield PLC (AY)

Vanguard Group Inc. decreased its holdings in shares of Atlantica Yield PLC (NASDAQ:AY) by 53.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,466 shares of the utilities provider’s stock after selling 167,994 shares during the quarter. Vanguard Group Inc. owned approximately 0.15% of Atlantica Yield worth $3,107,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AY. Vivaldi Asset Management LLC acquired a new stake in Atlantica Yield during the second quarter worth about $6,994,000. NGAM Advisors L.P. acquired a new stake in shares of Atlantica Yield in the second quarter valued at approximately $4,322,000. LMR Partners LLP acquired a new stake in shares of Atlantica Yield in the second quarter valued at approximately $3,611,000. Dimensional Fund Advisors LP acquired a new stake in shares of Atlantica Yield in the first quarter valued at approximately $3,171,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Atlantica Yield in the first quarter valued at approximately $2,639,000. Hedge funds and other institutional investors own 51.00% of the company’s stock.

Shares of Atlantica Yield PLC (AY) opened at $21.93 on Tuesday. The firm has a market cap of $2,242.86, a P/E ratio of 82.89, a P/E/G ratio of 1.04 and a beta of 1.15. Atlantica Yield PLC has a 1-year low of $17.16 and a 1-year high of $25.99. The company has a current ratio of 2.23, a quick ratio of 2.20 and a debt-to-equity ratio of 2.90.

Atlantica Yield (NASDAQ:AY) last issued its earnings results on Monday, November 13th. The utilities provider reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.30). The business had revenue of $291.96 million for the quarter. Atlantica Yield had a return on equity of 6.34% and a net margin of 10.57%. equities research analysts predict that Atlantica Yield PLC will post 0.74 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.29 dividend. This is a positive change from Atlantica Yield’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.16 dividend on an annualized basis and a yield of 5.29%. Atlantica Yield’s dividend payout ratio (DPR) is currently 429.63%.

Several brokerages have commented on AY. Royal Bank Of Canada raised their price target on shares of Atlantica Yield from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Monday, November 13th. BidaskClub upgraded shares of Atlantica Yield from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Bank of America restated a “buy” rating and issued a $24.00 price target on shares of Atlantica Yield in a research note on Tuesday, October 24th. Finally, Zacks Investment Research lowered shares of Atlantica Yield from a “buy” rating to a “hold” rating in a research note on Thursday, October 19th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Atlantica Yield presently has a consensus rating of “Buy” and an average price target of $23.83.

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About Atlantica Yield

Atlantica Yield plc, formerly Abengoa Yield plc, is a total return company. The Company owns, manages, and acquires renewable energy, conventional power, electric transmission lines and water assets, focused on North America (the United States and Mexico), South America (Peru, Chile, Brazil and Uruguay) and Europe, Middle East and Africa (Spain, Algeria and South Africa).

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Institutional Ownership by Quarter for Atlantica Yield (NASDAQ:AY)

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