State of New Jersey Common Pension Fund D Increases Stock Position in Atlantica Yield PLC (NASDAQ:AY)

State of New Jersey Common Pension Fund D raised its holdings in Atlantica Yield PLC (NASDAQ:AY) by 17.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,329 shares of the utilities provider’s stock after purchasing an additional 4,529 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Atlantica Yield were worth $731,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Tower Research Capital LLC TRC purchased a new position in shares of Atlantica Yield during the second quarter valued at approximately $35,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Atlantica Yield during the second quarter valued at approximately $54,000. Cohen & Steers Inc. lifted its stake in shares of Atlantica Yield by 21.1% during the second 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 period. Quantamental Technologies LLC lifted its stake in shares of Atlantica Yield by 7.8% during the second 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 period. Finally, Fox Run Management L.L.C. purchased a new position in shares of Atlantica Yield during the second quarter valued at approximately $202,000. 43.98% of the stock is currently owned by institutional investors.

AY stock traded up $0.21 on Tuesday, hitting $24.90. 1,062 shares of the company were exchanged, compared to its average volume of 479,166. Atlantica Yield PLC has a twelve month low of $17.50 and a twelve month high of $24.83. The company has a debt-to-equity ratio of 2.81, a current ratio of 1.23 and a quick ratio of 1.21. The business’s fifty day moving average is $24.08 and its two-hundred day moving average is $23.00. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 58.79 and a beta of 0.46.

Atlantica Yield (NASDAQ:AY) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.43 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.24). Atlantica Yield had a negative return on equity of 0.95% and a negative net margin of 1.62%. The company had revenue of $293.37 million for the quarter. Equities research analysts expect that Atlantica Yield PLC will post 0.56 earnings per share for the current year.

AY has been the topic of several recent analyst reports. Citigroup upped their price objective on shares of Atlantica Yield from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, July 29th. BidaskClub downgraded shares of Atlantica Yield from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Raymond James reissued an “outperform” rating and set a $27.00 price objective on shares of Atlantica Yield in a research note on Friday. ValuEngine raised shares of Atlantica Yield from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Zacks Investment Research downgraded shares of Atlantica Yield from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $27.00.

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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