Hannon Armstrong Sustainable Infrastructure Capital (NYSE:HASI) Shares Gap Up After Insider Buying Activity

Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE:HASI – Get Rating) gapped up before the market opened on Friday following insider buying activity. The stock had previously closed at $23.91, but opened at $24.57. Hannon Armstrong Sustainable Infrastructure Capital shares last traded at $24.63, with a volume of 242,163 shares traded.

Specifically, EVP Susan D. Nickey acquired 2,000 shares of the business’s stock in a transaction dated Thursday, March 16th. The shares were acquired at an average price of $23.91 per share, for a total transaction of $47,820.00. Following the acquisition, the executive vice president now directly owns 58,245 shares of the company’s stock, valued at approximately $1,392,637.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Hannon Armstrong Sustainable Infrastructure Capital news, EVP Susan D. Nickey acquired 2,000 shares of the business’s stock in a transaction dated Thursday, March 16th. The shares were acquired at an average price of $23.91 per share, for a total transaction of $47,820.00. Following the acquisition, the executive vice president now directly owns 58,245 shares of the company’s stock, valued at approximately $1,392,637.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey Eckel acquired 2,087 shares of the business’s stock in a transaction dated Thursday, March 16th. The shares were acquired at an average price of $23.92 per share, for a total transaction of $49,921.04. Following the acquisition, the insider now directly owns 549,894 shares in the company, valued at $13,153,464.48. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 7,087 shares of company stock worth $170,101. Insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on HASI shares. Cowen dropped their target price on Hannon Armstrong Sustainable Infrastructure Capital from $44.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, February 23rd. Bank of America raised Hannon Armstrong Sustainable Infrastructure Capital from an “underperform” rating to a “neutral” rating and lowered their price target for the stock from $39.00 to $34.00 in a research report on Tuesday, January 24th. TheStreet lowered Hannon Armstrong Sustainable Infrastructure Capital from a “b-” rating to a “c” rating in a research report on Thursday, February 16th. Oppenheimer lowered their price target on Hannon Armstrong Sustainable Infrastructure Capital from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, February 17th. Finally, Morgan Stanley lowered their price target on Hannon Armstrong Sustainable Infrastructure Capital from $58.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $43.71.

Hannon Armstrong Sustainable Infrastructure Capital Price Performance

The company has a 50 day moving average of $32.92 and a 200-day moving average of $31.65. The firm has a market capitalization of $2.17 billion, a P/E ratio of 51.91, a P/E/G ratio of 1.26 and a beta of 1.67. The company has a current ratio of 18.57, a quick ratio of 18.57 and a debt-to-equity ratio of 1.79.

Hannon Armstrong Sustainable Infrastructure Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 10th. Stockholders of record on Monday, April 3rd will be given a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a dividend yield of 6.62%. This is an increase from Hannon Armstrong Sustainable Infrastructure Capital’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, March 31st. Hannon Armstrong Sustainable Infrastructure Capital’s dividend payout ratio is presently 326.09%.

Institutional Trading of Hannon Armstrong Sustainable Infrastructure Capital

A number of institutional investors have recently modified their holdings of HASI. RFP Financial Group LLC bought a new stake in shares of Hannon Armstrong Sustainable Infrastructure Capital during the 4th quarter worth $26,000. CoreCap Advisors LLC bought a new stake in shares of Hannon Armstrong Sustainable Infrastructure Capital during the 4th quarter worth $26,000. Lazard Asset Management LLC bought a new stake in shares of Hannon Armstrong Sustainable Infrastructure Capital during the 1st quarter worth $38,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Hannon Armstrong Sustainable Infrastructure Capital during the 3rd quarter worth $48,000. Finally, Castleview Partners LLC acquired a new position in Hannon Armstrong Sustainable Infrastructure Capital in the 4th quarter worth about $59,000. 82.81% of the stock is currently owned by institutional investors.

Hannon Armstrong Sustainable Infrastructure Capital Company Profile

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Hannon Armstrong Sustainable Infrastructure Capital, Inc engages in the business of investing in climate solutions and the provision of capital to assets developed by companies in energy efficiency, renewable energy, and other sustainable infrastructure markets. It focuses on generating attractive returns from a diversified portfolio of project company investments with long-term, predictable cash flows from proven technologies that reduce carbon emissions or increase resilience to climate change.