Shell Asset Management Co. cut its holdings in shares of Avista Co. (NYSE:AVA – Get Rating) by 12.9% during the first quarter, Holdings Channel.com reports. The fund owned 7,181 shares of the utilities provider’s stock after selling 1,064 shares during the period. Shell Asset Management Co.’s holdings in Avista were worth $324,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of AVA. Allspring Global Investments Holdings LLC acquired a new stake in shares of Avista during the 4th quarter valued at about $2,800,000. Commonwealth Equity Services LLC grew its position in shares of Avista by 0.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 39,196 shares of the utilities provider’s stock valued at $1,665,000 after acquiring an additional 311 shares during the period. State of New Jersey Common Pension Fund D grew its position in shares of Avista by 15.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 72,369 shares of the utilities provider’s stock valued at $3,075,000 after acquiring an additional 9,443 shares during the period. Yousif Capital Management LLC acquired a new stake in shares of Avista during the 4th quarter valued at about $2,741,000. Finally, CWM LLC purchased a new position in Avista in the 4th quarter valued at about $288,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Mizuho raised their price target on shares of Avista from $43.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, June 29th.
Avista Trading Down 2.2 %
Avista (NYSE:AVA – Get Rating) last released its earnings results on Wednesday, August 3rd. The utilities provider reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Avista had a return on equity of 6.80% and a net margin of 9.53%. During the same quarter in the previous year, the business earned $0.20 earnings per share. On average, sell-side analysts predict that Avista Co. will post 1.94 EPS for the current fiscal year.
Avista Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Friday, May 27th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend was Thursday, May 26th. Avista’s dividend payout ratio (DPR) is 85.44%.
Insiders Place Their Bets
In other Avista news, Chairman Scott L. Morris sold 7,627 shares of the firm’s stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $44.00, for a total value of $335,588.00. Following the transaction, the chairman now directly owns 130,398 shares of the company’s stock, valued at approximately $5,737,512. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.94% of the company’s stock.
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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