13,833 Shares in Avnet, Inc. (NASDAQ:AVT) Acquired by Sciencast Management LP

Sciencast Management LP bought a new position in shares of Avnet, Inc. (NASDAQ:AVT) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,833 shares of the company’s stock, valued at approximately $689,000.

A number of other large investors have also bought and sold shares of the business. Natixis Advisors L.P. acquired a new position in Avnet during the 1st quarter worth approximately $448,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Avnet during the 1st quarter worth approximately $1,019,000. MetLife Investment Management LLC boosted its position in Avnet by 33.1% during the 1st quarter. MetLife Investment Management LLC now owns 64,005 shares of the company’s stock worth $2,598,000 after acquiring an additional 15,921 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Avnet by 10.3% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,269 shares of the company’s stock worth $1,472,000 after acquiring an additional 3,372 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in Avnet by 9.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 63,382 shares of the company’s stock worth $2,658,000 after acquiring an additional 5,646 shares during the last quarter. 95.34% of the stock is owned by institutional investors.

Avnet Stock Up 0.8 %

AVT stock opened at $48.15 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.53 and a quick ratio of 1.24. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of 5.78, a PEG ratio of 0.59 and a beta of 1.35. The business’s fifty day moving average price is $48.26 and its two-hundred day moving average price is $45.68. Avnet, Inc. has a fifty-two week low of $35.45 and a fifty-two week high of $51.65.

Avnet (NASDAQ:AVT) last posted its quarterly earnings data on Wednesday, August 16th. The company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.41. The firm had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.27 billion. Avnet had a return on equity of 16.88% and a net margin of 2.90%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.07 EPS. On average, equities analysts anticipate that Avnet, Inc. will post 5.67 earnings per share for the current year.

Avnet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Wednesday, September 13th will be given a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.58%. This is a boost from Avnet’s previous quarterly dividend of $0.29. Avnet’s dividend payout ratio (DPR) is presently 14.99%.

Analyst Upgrades and Downgrades

AVT has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on Avnet from $37.00 to $40.00 and gave the company an “underweight” rating in a report on Thursday, August 17th. Stifel Nicolaus increased their price objective on Avnet from $45.00 to $50.00 and gave the company a “hold” rating in a report on Thursday, August 17th. StockNews.com initiated coverage on Avnet in a report on Wednesday, August 23rd. They issued a “hold” rating for the company. Finally, Truist Financial increased their price objective on Avnet from $49.00 to $50.00 and gave the company a “hold” rating in a report on Thursday, August 17th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $47.40.

Avnet Company Profile

Avnet, Inc, distributes electronic component technology. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated components from electronic component manufacturers.