California Public Employees Retirement System boosted its stake in Atlantica Yield PLC (NASDAQ:AY) by 180.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 493,997 shares of the utilities provider’s stock after buying an additional 317,978 shares during the quarter. California Public Employees Retirement System owned approximately 0.49% of Atlantica Yield worth $11,900,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new stake in Atlantica Yield in the 2nd quarter valued at $35,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Atlantica Yield in the 2nd quarter valued at $54,000. Cohen & Steers Inc. raised its position in Atlantica Yield by 21.1% in the 2nd quarter. Cohen & Steers Inc. now owns 2,449 shares of the utilities provider’s stock valued at $56,000 after buying an additional 427 shares during the last quarter. Quantamental Technologies LLC raised its position in Atlantica Yield by 7.8% in the 2nd quarter. Quantamental Technologies LLC now owns 6,470 shares of the utilities provider’s stock valued at $147,000 after buying an additional 466 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Atlantica Yield in the 2nd quarter valued at $202,000. 43.98% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on AY shares. Citigroup increased their price target on Atlantica Yield from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Zacks Investment Research lowered Atlantica Yield from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Raymond James reissued an “outperform” rating and issued a $27.00 price target on shares of Atlantica Yield in a research report on Friday. BidaskClub downgraded Atlantica Yield from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, ValuEngine upgraded Atlantica Yield from a “sell” rating to a “hold” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Atlantica Yield presently has an average rating of “Hold” and a consensus target price of $27.00.
Atlantica Yield (NASDAQ:AY) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.24). The business had revenue of $293.37 million during the quarter. Atlantica Yield had a negative net margin of 1.62% and a negative return on equity of 0.95%. Sell-side analysts anticipate that Atlantica Yield PLC will post 0.56 earnings per share for the current year.
Atlantica Yield Company Profile
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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