Panagora Asset Management Inc. Increases Stock Holdings in Avista Co. (NYSE:AVA)

Panagora Asset Management Inc. lifted its stake in Avista Co. (NYSE:AVA) by 1.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,192 shares of the utilities provider’s stock after purchasing an additional 309 shares during the quarter. Panagora Asset Management Inc.’s holdings in Avista were worth $1,203,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in AVA. Teacher Retirement System of Texas lifted its stake in shares of Avista by 22.4% during the 1st quarter. Teacher Retirement System of Texas now owns 7,540 shares of the utilities provider’s stock worth $360,000 after acquiring an additional 1,380 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of Avista by 1.4% during the 1st quarter. New York State Common Retirement Fund now owns 64,467 shares of the utilities provider’s stock worth $3,078,000 after acquiring an additional 867 shares during the last quarter. Dean Capital Management lifted its stake in shares of Avista by 29.7% during the 1st quarter. Dean Capital Management now owns 62,503 shares of the utilities provider’s stock worth $2,985,000 after acquiring an additional 14,305 shares during the last quarter. Trillium Asset Management LLC lifted its stake in shares of Avista by 19.3% during the 1st quarter. Trillium Asset Management LLC now owns 37,464 shares of the utilities provider’s stock worth $1,789,000 after acquiring an additional 6,073 shares during the last quarter. Finally, State of Tennessee Treasury Department lifted its stake in shares of Avista by 2.4% during the 1st quarter. State of Tennessee Treasury Department now owns 24,688 shares of the utilities provider’s stock worth $1,179,000 after acquiring an additional 576 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

In related news, Chairman Scott L. Morris sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 2nd. The stock was sold at an average price of $45.11, for a total transaction of $451,100.00. Following the transaction, the chairman now directly owns 136,675 shares in the company, valued at approximately $6,165,409.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director R John Taylor sold 600 shares of the business’s stock in a transaction on Thursday, June 3rd. The stock was sold at an average price of $44.86, for a total value of $26,916.00. The disclosure for this sale can be found here. Insiders sold a total of 20,375 shares of company stock worth $919,357 over the last quarter. Company insiders own 0.94% of the company’s stock.

Shares of NYSE AVA opened at $44.40 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.58 and a debt-to-equity ratio of 1.00. The firm’s fifty day moving average price is $45.95. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 3.90 and a beta of 0.61. Avista Co. has a twelve month low of $32.26 and a twelve month high of $49.14.

Avista (NYSE:AVA) last issued its earnings results on Tuesday, May 4th. The utilities provider reported $0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.14. Avista had a return on equity of 7.40% and a net margin of 11.20%. The business had revenue of $399.86 million during the quarter, compared to analyst estimates of $410.13 million. During the same period in the previous year, the company posted $0.72 EPS. Avista’s revenue was up 6.0% on a year-over-year basis. On average, equities research analysts anticipate that Avista Co. will post 2.12 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 15th. Stockholders of record on Thursday, May 27th were issued a $0.423 dividend. The ex-dividend date of this dividend was Wednesday, May 26th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.81%. Avista’s dividend payout ratio is presently 88.95%.

A number of equities research analysts recently issued reports on AVA shares. Sidoti reissued a “neutral” rating and set a $48.00 price target on shares of Avista in a research note on Thursday, April 1st. TheStreet raised Avista from a “c+” rating to a “b-” rating in a research note on Thursday, March 4th. Williams Capital reaffirmed a “buy” rating on shares of Avista in a research report on Friday, April 23rd. Finally, Zacks Investment Research raised Avista from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $45.00.

About Avista

Avista Corporation 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.

Recommended Story: Technical Indicators – What is a Golden Cross?

Institutional Ownership by Quarter for Avista (NYSE:AVA)

Receive News & Ratings for Avista Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avista and related companies with MarketBeat.com's FREE daily email newsletter.