First Trust Advisors LP Sells 107,579 Shares of Avista Co. (NYSE:AVA)

First Trust Advisors LP lessened its holdings in Avista Co. (NYSE:AVAFree Report) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,082,225 shares of the utilities provider’s stock after selling 107,579 shares during the period. First Trust Advisors LP owned 2.69% of Avista worth $74,419,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Exchange Traded Concepts LLC raised its stake in Avista by 0.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 36,063 shares of the utilities provider’s stock valued at $1,289,000 after acquiring an additional 283 shares during the period. Yousif Capital Management LLC raised its stake in Avista by 1.1% in the 4th quarter. Yousif Capital Management LLC now owns 38,242 shares of the utilities provider’s stock valued at $1,367,000 after acquiring an additional 420 shares during the period. Arizona State Retirement System increased its position in Avista by 2.0% during the 3rd quarter. Arizona State Retirement System now owns 21,572 shares of the utilities provider’s stock worth $698,000 after buying an additional 426 shares during the period. Foundations Investment Advisors LLC increased its position in Avista by 5.8% during the 4th quarter. Foundations Investment Advisors LLC now owns 8,036 shares of the utilities provider’s stock worth $277,000 after buying an additional 442 shares during the period. Finally, Strs Ohio increased its position in Avista by 33.3% during the 4th quarter. Strs Ohio now owns 2,000 shares of the utilities provider’s stock worth $71,000 after buying an additional 500 shares during the period. Institutional investors own 85.24% of the company’s stock.

Wall Street Analyst Weigh In

AVA has been the topic of several recent research reports. StockNews.com upgraded Avista from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Mizuho upgraded Avista from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $32.00 to $36.00 in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $35.00.

Read Our Latest Analysis on Avista

Avista Stock Performance

NYSE:AVA opened at $35.52 on Friday. The stock’s 50-day simple moving average is $36.15 and its 200 day simple moving average is $35.03. The firm has a market capitalization of $2.78 billion, a PE ratio of 14.74 and a beta of 0.49. The company has a quick ratio of 0.69, a current ratio of 0.97 and a debt-to-equity ratio of 1.05. Avista Co. has a twelve month low of $30.53 and a twelve month high of $42.66.

Avista (NYSE:AVAGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.09). Avista had a net margin of 9.96% and a return on equity of 7.65%. The firm had revenue of $594.90 million for the quarter, compared to analyst estimates of $469.34 million. During the same period in the previous year, the business posted $0.73 earnings per share. The business’s revenue for the quarter was up 29.3% compared to the same quarter last year. On average, analysts anticipate that Avista Co. will post 2.46 EPS for the current fiscal year.

Avista Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 23rd will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date is Wednesday, May 22nd. Avista’s payout ratio is 78.84%.

Insider Activity

In other news, CEO Jason R. Thackston sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $36.98, for a total transaction of $92,450.00. Following the completion of the transaction, the chief executive officer now directly owns 32,506 shares in the company, valued at $1,202,071.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Avista news, VP Latisha Diane Hill sold 1,700 shares of Avista stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $36.21, for a total value of $61,557.00. Following the completion of the sale, the vice president now directly owns 11,085 shares in the company, valued at $401,387.85. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jason R. Thackston sold 2,500 shares of Avista stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $36.98, for a total value of $92,450.00. Following the completion of the sale, the chief executive officer now owns 32,506 shares of the company’s stock, valued at $1,202,071.88. The disclosure for this sale can be found here. Insiders own 0.96% of the company’s stock.

Avista Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Avista (NYSE:AVA)

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