Aperio Group LLC Decreases Stake in Avista Corp. (AVA)
Aperio Group LLC lowered its stake in Avista Corp. (NYSE:AVA) by 2.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 117,953 shares of the company’s stock after selling 2,700 shares during the period. Aperio Group LLC owned about 0.19% of Avista Corp. worth $4,929,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the company. Arizona State Retirement System boosted its position in Avista Corp. by 0.3% in the third quarter. Arizona State Retirement System now owns 32,922 shares of the company’s stock worth $1,376,000 after buying an additional 100 shares during the period. Mutual of America Capital Management LLC increased its stake in shares of Avista Corp. by 0.5% in the third quarter. Mutual of America Capital Management LLC now owns 141,164 shares of the company’s stock worth $5,899,000 after buying an additional 716 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Avista Corp. by 80.8% in the third quarter. Nordea Investment Management AB now owns 26,726 shares of the company’s stock worth $1,117,000 after buying an additional 11,944 shares in the last quarter. Rothschild Asset Management Inc. increased its stake in shares of Avista Corp. by 5.3% in the third quarter. Rothschild Asset Management Inc. now owns 566,327 shares of the company’s stock worth $23,667,000 after buying an additional 28,397 shares in the last quarter. Finally, Commonwealth Financial Services LLC increased its stake in shares of Avista Corp. by 5.4% in the third quarter. Commonwealth Financial Services LLC now owns 8,585 shares of the company’s stock worth $359,000 after buying an additional 436 shares in the last quarter. 68.96% of the stock is owned by hedge funds and other institutional investors.
Shares of Avista Corp. (NYSE:AVA) traded up 0.69% during midday trading on Tuesday, hitting $42.12. The stock had a trading volume of 238,087 shares. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 19.57 and a beta of 0.37. Avista Corp. has a 1-year low of $33.00 and a 1-year high of $45.22. The firm has a 50-day moving average price of $40.33 and a 200-day moving average price of $41.62.
Avista Corp. (NYSE:AVA) last released its earnings results on Tuesday, November 1st. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.02. The business earned $303.35 million during the quarter, compared to analysts’ expectations of $306.78 million. Avista Corp. had a net margin of 9.39% and a return on equity of 8.13%. Avista Corp.’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 EPS. On average, equities analysts anticipate that Avista Corp. will post $2.08 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 18th will be issued a $0.3425 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 3.25%. Avista Corp.’s payout ratio is currently 64.62%.
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A number of equities research analysts have recently commented on the company. Guggenheim assumed coverage on Avista Corp. in a research report on Thursday, November 3rd. They issued a “neutral” rating for the company. Zacks Investment Research raised Avista Corp. from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Wednesday, October 19th. Finally, Williams Capital lifted their price objective on Avista Corp. from $38.00 to $40.00 and gave the company a “hold” rating in a research report on Thursday, September 22nd. Four 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 a consensus price target of $42.00.
In other news, SVP Jason R. Thackston sold 950 shares of the stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $40.90, for a total value of $38,855.00. Following the completion of the sale, the senior vice president now owns 17,232 shares in the company, valued at $704,788.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.07% of the stock is owned by insiders.
About Avista Corp.
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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