Trillium Asset Management LLC acquired a new stake in Avista Corp (NYSE:AVA) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,791 shares of the utilities provider’s stock, valued at approximately $1,657,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Deprince Race & Zollo Inc. purchased a new stake in Avista in the 1st quarter valued at $27,001,000. Metropolitan Life Insurance Co. NY increased its stake in Avista by 339.9% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 21,112 shares of the utilities provider’s stock worth $897,000 after purchasing an additional 16,313 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Avista by 1.5% during the fourth quarter. State of Alaska Department of Revenue now owns 21,949 shares of the utilities provider’s stock valued at $932,000 after buying an additional 315 shares during the period. Oregon Public Employees Retirement Fund purchased a new position in shares of Avista during the fourth quarter valued at approximately $1,061,000. Finally, Everence Capital Management Inc. boosted its position in shares of Avista by 78.1% during the first quarter. Everence Capital Management Inc. now owns 12,930 shares of the utilities provider’s stock valued at $525,000 after purchasing an additional 5,670 shares in the last quarter. Hedge funds and other institutional investors own 75.99% of the company’s stock.
Several research firms recently weighed in on AVA. Bank of America began coverage on Avista in a research report on Thursday, May 9th. They set an “underperform” rating and a $43.00 price target on the stock. Zacks Investment Research raised Avista from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Guggenheim reissued a “hold” rating and set a $38.00 price target on shares of Avista in a research note on Friday, February 8th. Finally, TheStreet lowered Avista from a “b-” rating to a “c+” rating in a research note on Thursday, January 24th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $40.67.
In other news, VP David J. Meyer sold 1,437 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $41.34, for a total value of $59,405.58. Following the completion of the sale, the vice president now directly owns 2,396 shares of the company’s stock, valued at approximately $99,050.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Scott L. Morris sold 18,900 shares of the firm’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $40.81, for a total value of $771,309.00. Following the completion of the sale, the chairman now directly owns 222,823 shares of the company’s stock, valued at $9,093,406.63. The disclosure for this sale can be found here. Insiders sold a total of 52,386 shares of company stock valued at $2,146,500 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.
Avista stock traded up $0.11 during midday trading on Friday, reaching $42.24. 2,339 shares of the stock traded hands, compared to its average volume of 430,617. Avista Corp has a 12 month low of $39.75 and a 12 month high of $52.91. The firm has a market cap of $2.79 billion, a PE ratio of 20.01, a PEG ratio of 6.73 and a beta of 0.40. The company has a current ratio of 0.64, a quick ratio of 0.54 and a debt-to-equity ratio of 0.94.
Avista (NYSE:AVA) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.31). Avista had a net margin of 14.26% and a return on equity of 6.48%. The firm had revenue of $377.70 million for the quarter. During the same period in the previous year, the firm posted $0.83 earnings per share. The company’s revenue was down 2.8% compared to the same quarter last year. As a group, equities research analysts forecast that Avista Corp will post 1.93 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 23rd will be paid a $0.3875 dividend. This represents a $1.55 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Wednesday, May 22nd. Avista’s payout ratio is 73.46%.
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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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