Aperio Group LLC Decreases Stake in Avista Corp. (AVA)
Aperio Group LLC cut its position in shares of Avista Corp. (NYSE:AVA) by 2.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 117,953 shares of the company’s stock after selling 2,700 shares during the period. Aperio Group LLC’s holdings in Avista Corp. were worth $4,929,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Advisor Group Inc. acquired a new stake in Avista Corp. during the second quarter worth about $107,000. Tower Research Capital LLC TRC raised its stake in shares of Avista Corp. by 24,520.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,462 shares of the company’s stock valued at $111,000 after buying an additional 2,452 shares in the last quarter. Pinkerton Retirement Specialists LLC purchased a new stake in shares of Avista Corp. during the second quarter valued at about $117,000. Trust Co. of Vermont purchased a new stake in shares of Avista Corp. during the third quarter valued at about $117,000. Finally, Washington Trust Bank raised its stake in shares of Avista Corp. by 1.0% in the third quarter. Washington Trust Bank now owns 4,012 shares of the company’s stock valued at $168,000 after buying an additional 38 shares in the last quarter. Institutional investors own 68.96% of the company’s stock.
Avista Corp. (NYSE:AVA) traded up 0.69% on Tuesday, hitting $42.12. 238,087 shares of the stock were exchanged. The company has a market capitalization of $2.70 billion, a PE ratio of 19.57 and a beta of 0.37. The company has a 50-day moving average price of $40.33 and a 200 day moving average price of $41.62. Avista Corp. has a 1-year low of $33.00 and a 1-year high of $45.22.
Avista Corp. (NYSE:AVA) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.02. Avista Corp. had a net margin of 9.39% and a return on equity of 8.13%. The company earned $303.35 million during the quarter, compared to analyst estimates of $306.78 million. During the same quarter last year, the company posted $0.21 EPS. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. Analysts anticipate that Avista Corp. will post $2.08 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 18th will be paid a $0.3425 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $1.37 dividend on an annualized basis and a yield of 3.25%. Avista Corp.’s dividend payout ratio (DPR) is currently 64.62%.
Several analysts recently issued reports on the company. Guggenheim assumed coverage on Avista Corp. in a report on Thursday, November 3rd. They set a “neutral” rating for the company. Williams Capital increased their price objective on Avista Corp. from $38.00 to $40.00 and gave the stock a “hold” rating in a report on Thursday, September 22nd. Finally, Zacks Investment Research upgraded Avista Corp. from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Wednesday, October 19th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $42.00.
In related news, SVP Jason R. Thackston sold 950 shares of the company’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $40.90, for a total value of $38,855.00. Following the transaction, the senior vice president now owns 17,232 shares in the company, valued at approximately $704,788.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.07% of the stock is currently owned by corporate insiders.
Avista Corp. Company Profile
Avista Corporation is an electric and natural gas utility with certain other business ventures. The Company operates through two business segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). Avista Utilities segment generates, transmits and distributes electricity, and distributes natural gas serving electric and natural gas customers in eastern Washington and northern Idaho and natural gas customers in parts of Oregon.
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