Exane Asset Management Purchases New Holdings in Atlantica Yield PLC (AY)

Exane Asset Management purchased a new stake in Atlantica Yield PLC (NASDAQ:AY) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 40,689 shares of the utilities provider’s stock, valued at approximately $792,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Raymond James & Associates purchased a new position in Atlantica Yield in the first quarter valued at approximately $284,000. Raymond James Financial Services Advisors Inc. grew its position in Atlantica Yield by 96.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 20,457 shares of the utilities provider’s stock valued at $398,000 after acquiring an additional 10,020 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in Atlantica Yield by 21.1% in the first quarter. State of New Jersey Common Pension Fund D now owns 16,327 shares of the utilities provider’s stock valued at $318,000 after acquiring an additional 2,840 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in Atlantica Yield by 481.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 651,765 shares of the utilities provider’s stock valued at $12,685,000 after acquiring an additional 539,583 shares in the last quarter. Finally, Boussard & Gavaudan Investment Management LLP acquired a new stake in Atlantica Yield in the first quarter valued at approximately $2,151,000. Hedge funds and other institutional investors own 50.47% of the company’s stock.

Shares of AY stock traded up $0.21 during mid-day trading on Wednesday, reaching $21.01. 2,721 shares of the company were exchanged, compared to its average volume of 249,098. Atlantica Yield PLC has a fifty-two week low of $17.50 and a fifty-two week high of $21.22. The company has a current ratio of 1.55, a quick ratio of 1.50 and a debt-to-equity ratio of 3.12. The company has a market capitalization of $2.08 billion, a P/E ratio of 50.07 and a beta of 0.65.

Atlantica Yield (NASDAQ:AY) last released its quarterly earnings results on Thursday, February 28th. The utilities provider reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.47). Atlantica Yield had a return on equity of 2.08% and a net margin of 3.60%. The company had revenue of $206.90 million for the quarter, compared to analyst estimates of $248.73 million. On average, research analysts predict that Atlantica Yield PLC will post 1.02 EPS for the current year.

Several brokerages have issued reports on AY. BidaskClub raised shares of Atlantica Yield from a “hold” rating to a “buy” rating in a research report on Tuesday. Raymond James reaffirmed an “outperform” rating and issued a $25.50 price objective on shares of Atlantica Yield in a research report on Monday. Finally, Zacks Investment Research downgraded shares of Atlantica Yield from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Atlantica Yield has an average rating of “Buy” and an average target price of $24.70.

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About Atlantica Yield

Atlantica Yield plc acquires, owns, and manages renewable energy, natural gas power, electric transmission lines, and water assets in the United States, Mexico, Peru, Chile, Uruguay, Spain, Algeria, and South Africa. As of December 31, 2018, it had 24 assets, including 1,496 megawatts (MW) of renewable energy generation assets comprising solar power and wind plants; 300 MW of natural gas power generation assets that produce electricity and steam from natural gas; 1,152 miles of electric transmission lines; and water desalination plants with an aggregate capacity of 10.5 million cubic feet per day.

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

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