Macquarie Group Ltd. reduced its holdings in Avista Corp (NYSE:AVA) by 18.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,800 shares of the utilities provider’s stock after selling 1,800 shares during the period. Macquarie Group Ltd.’s holdings in Avista were worth $331,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its holdings in shares of Avista by 1.5% in the 4th quarter. State of Alaska Department of Revenue now owns 21,949 shares of the utilities provider’s stock valued at $932,000 after acquiring an additional 315 shares during the last quarter. Comerica Bank boosted its holdings in shares of Avista by 0.5% in the 4th quarter. Comerica Bank now owns 63,953 shares of the utilities provider’s stock valued at $2,636,000 after acquiring an additional 331 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Avista by 5.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 7,562 shares of the utilities provider’s stock valued at $321,000 after acquiring an additional 404 shares during the last quarter. GWM Advisors LLC boosted its holdings in Avista by 4.7% during the fourth quarter. GWM Advisors LLC now owns 9,793 shares of the utilities provider’s stock worth $416,000 after buying an additional 440 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in Avista by 5.3% during the fourth quarter. Raymond James & Associates now owns 9,521 shares of the utilities provider’s stock worth $404,000 after buying an additional 476 shares in the last quarter. 76.51% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE AVA opened at $41.72 on Tuesday. Avista Corp has a 1 year low of $39.75 and a 1 year high of $52.91. The firm has a market cap of $2.73 billion, a P/E ratio of 19.93, a PEG ratio of 6.54 and a beta of 0.38. The company has a current ratio of 0.54, a quick ratio of 0.44 and a debt-to-equity ratio of 1.02.
Avista (NYSE:AVA) last announced its quarterly earnings results on Wednesday, February 20th. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.10. The firm had revenue of $372.22 million for the quarter. Avista had a net margin of 9.77% and a return on equity of 7.79%. On average, research analysts anticipate that Avista Corp will post 1.98 EPS for the current year.
A number of analysts recently issued reports on AVA shares. TheStreet downgraded shares of Avista from a “b-” rating to a “c+” rating in a report on Thursday, January 24th. ValuEngine downgraded shares of Avista from a “buy” rating to a “hold” rating in a report on Friday, January 11th. Williams Capital raised shares of Avista from a “sell” rating to a “hold” rating and increased their price target for the stock from $40.00 to $41.00 in a report on Friday, January 4th. Zacks Investment Research raised shares of Avista from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, Guggenheim reissued a “hold” rating and set a $38.00 price target on shares of Avista in a report on Friday, February 8th. Four investment analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average target price of $39.50.
In other Avista news, VP David J. Meyer sold 1,437 shares of the company’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $41.34, for a total transaction of $59,405.58. Following the completion of the transaction, the vice president now directly owns 2,396 shares in the company, valued at $99,050.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jason R. Thackston sold 2,875 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $40.04, for a total transaction of $115,115.00. Following the transaction, the senior vice president now owns 27,327 shares of the company’s stock, valued at $1,094,173.08. The disclosure for this sale can be found here. Insiders have sold 50,636 shares of company stock valued at $2,070,250 over the last 90 days. 1.10% of the stock is currently owned by company insiders.
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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