Arizona State Retirement System lifted its holdings in shares of Avista Co. (NYSE:AVA – Get Rating) by 2.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 19,130 shares of the utilities provider’s stock after acquiring an additional 379 shares during the period. Arizona State Retirement System’s holdings in Avista were worth $864,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in AVA. First Horizon Advisors Inc. increased its position in shares of Avista by 121.1% during the 4th quarter. First Horizon Advisors Inc. now owns 639 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 350 shares in the last quarter. Covestor Ltd acquired a new stake in shares of Avista during the 4th quarter worth about $58,000. Convergence Investment Partners LLC acquired a new stake in shares of Avista during the 1st quarter worth about $144,000. Krane Funds Advisors LLC acquired a new stake in shares of Avista during the 4th quarter worth about $146,000. Finally, Rice Hall James & Associates LLC acquired a new stake in shares of Avista during the 4th quarter worth about $209,000. 82.47% of the stock is owned by institutional investors.
Insider Buying and Selling at Avista
In other Avista news, Chairman Scott L. Morris sold 7,627 shares of the firm’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $44.00, for a total value of $335,588.00. Following the completion of the sale, the chairman now owns 130,398 shares in the company, valued at approximately $5,737,512. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.94% of the company’s stock.
Avista Trading Up 0.6 %
Avista (NYSE:AVA – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The utilities provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.06. The firm had revenue of $448.87 million during the quarter, compared to analysts’ expectations of $427.01 million. Avista had a net margin of 10.23% and a return on equity of 7.05%. During the same quarter last year, the company posted $0.98 EPS. As a group, equities analysts anticipate that Avista Co. will post 1.94 earnings per share for the current fiscal year.
Avista Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Friday, May 27th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend was Thursday, May 26th. Avista’s payout ratio is presently 83.81%.
Analysts Set New Price Targets
Separately, Mizuho increased their target price on shares of Avista from $43.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 29th.
Avista Company Profile
Avista Corporation, together with its subsidiaries, operates as an electric and natural gas utility company. It operates in 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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