Trillium Asset Management LLC Buys 1,583 Shares of Avista Corp (NYSE:AVA)
Trillium Asset Management LLC increased its holdings in shares of Avista Corp (NYSE:AVA) by 3.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,569 shares of the utilities provider’s stock after acquiring an additional 1,583 shares during the quarter. Trillium Asset Management LLC owned approximately 0.07% of Avista worth $2,064,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of AVA. Norges Bank purchased a new stake in Avista in the fourth quarter worth $33,713,000. Citigroup Inc. grew its position in shares of Avista by 89.0% in the fourth quarter. Citigroup Inc. now owns 1,433,206 shares of the utilities provider’s stock valued at $68,923,000 after purchasing an additional 674,830 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Avista by 72.2% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,150,249 shares of the utilities provider’s stock worth $55,315,000 after buying an additional 482,440 shares in the last quarter. State Street Corp grew its position in Avista by 15.8% during the fourth quarter. State Street Corp now owns 2,306,793 shares of the utilities provider’s stock worth $110,934,000 after buying an additional 314,231 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Avista by 12.3% during the fourth quarter. Renaissance Technologies LLC now owns 2,382,518 shares of the utilities provider’s stock worth $114,575,000 after buying an additional 261,300 shares in the last quarter. Institutional investors and hedge funds own 81.59% of the company’s stock.
Several equities research analysts have issued reports on AVA shares. Zacks Investment Research lowered Avista from a “buy” rating to a “hold” rating in a research note on Wednesday, January 22nd. KeyCorp upgraded Avista from an “underweight” rating to a “sector weight” rating in a research note on Monday, March 23rd. They noted that the move was a valuation call. Bank of America raised Avista from an “underperform” rating to a “buy” rating in a research report on Monday, March 30th. Finally, Williams Capital raised Avista from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $46.00.
Avista (NYSE:AVA) last issued its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.06. Avista had a net margin of 9.68% and a return on equity of 6.80%. The business had revenue of $377.20 million during the quarter, compared to the consensus estimate of $404.97 million. During the same quarter in the prior year, the firm posted $1.76 earnings per share. The company’s revenue was down .1% compared to the same quarter last year. On average, equities research analysts predict that Avista Corp will post 1.95 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend is Thursday, May 28th. Avista’s dividend payout ratio (DPR) is 93.10%.
In other news, VP James M. Kensok sold 1,000 shares of Avista stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $50.35, for a total transaction of $50,350.00. Following the completion of the sale, the vice president now directly owns 10,385 shares in the company, valued at $522,884.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Scott L. Morris sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $50.42, for a total transaction of $1,008,400.00. Following the completion of the sale, the chairman now owns 192,643 shares of the company’s stock, valued at $9,713,060.06. The disclosure for this sale can be found here. Insiders sold a total of 37,000 shares of company stock worth $1,842,270 over the last ninety days. Insiders own 0.98% of the company’s stock.
Avista Corporation operates as an electric and natural gas utility company. It operates through two segments, Avista Utilities and AEL&P. The Avista Utilities segment provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho; and natural gas distribution services in parts of northeastern and southwestern Oregon, as well as generates electricity in Washington, Idaho, Oregon, and Montana.
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