Royce & Associates LP lessened its stake in Avista Corp (NYSE:AVA) by 59.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,195 shares of the utilities provider’s stock after selling 4,745 shares during the quarter. Royce & Associates LP’s holdings in Avista were worth $154,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. bought a new stake in Avista during the fourth quarter worth $618,000. State Street Corp raised its position in Avista by 15.8% in the 4th quarter. State Street Corp now owns 2,306,793 shares of the utilities provider’s stock valued at $110,934,000 after buying an additional 314,231 shares during the last quarter. Swiss National Bank raised its position in Avista by 2.3% in the 4th quarter. Swiss National Bank now owns 126,600 shares of the utilities provider’s stock valued at $6,088,000 after buying an additional 2,900 shares during the last quarter. Rhumbline Advisers lifted its stake in Avista by 7.8% during the 4th quarter. Rhumbline Advisers now owns 237,488 shares of the utilities provider’s stock valued at $11,421,000 after acquiring an additional 17,235 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Avista by 1.2% during the 4th quarter. Principal Financial Group Inc. now owns 532,840 shares of the utilities provider’s stock valued at $25,625,000 after acquiring an additional 6,548 shares in the last quarter. 79.98% of the stock is currently owned by institutional investors.
In other Avista news, SVP Marian M. Durkin sold 10,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $46.76, for a total value of $467,600.00. Following the transaction, the senior vice president now owns 67,451 shares of the company’s stock, valued at $3,154,008.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.
Shares of AVA stock traded down $0.37 during trading on Friday, hitting $51.19. The company’s stock had a trading volume of 398,070 shares, compared to its average volume of 288,215. The company has a market cap of $3.44 billion, a PE ratio of 17.53, a P/E/G ratio of 7.57 and a beta of 0.36. The company has a current ratio of 0.62, a quick ratio of 0.45 and a debt-to-equity ratio of 1.02. The business has a fifty day moving average of $49.84 and a 200-day moving average of $48.04. Avista Corp has a 52 week low of $39.75 and a 52 week high of $52.43.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 21st will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 3.16%. This is an increase from Avista’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, February 20th. Avista’s dividend payout ratio (DPR) is presently 76.78%.
Several research firms have recently issued reports on AVA. Zacks Investment Research lowered shares of Avista from a “buy” rating to a “hold” rating in a research note on Wednesday, January 22nd. Guggenheim lowered shares of Avista from a “neutral” rating to a “sell” rating in a research report on Tuesday, January 7th. ValuEngine lowered shares of Avista from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, KeyCorp boosted their price target on shares of Avista from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Four analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock has an average rating of “Sell” and a consensus price target of $45.25.
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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