Pzena Investment Management LLC Has $338.38 Million Position in Avnet, Inc. $AVT

Pzena Investment Management LLC reduced its stake in Avnet, Inc. (NASDAQ:AVT) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,037,798 shares of the company’s stock after selling 105,548 shares during the period. Avnet accounts for approximately 1.0% of Pzena Investment Management LLC’s investment portfolio, making the stock its 29th biggest position. Pzena Investment Management LLC owned approximately 0.09% of Avnet worth $338,377,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. World Investment Advisors increased its holdings in shares of Avnet by 2.3% in the fourth quarter. World Investment Advisors now owns 9,873 shares of the company’s stock valued at $471,000 after purchasing an additional 219 shares during the last quarter. MAI Capital Management increased its holdings in shares of Avnet by 53.7% in the third quarter. MAI Capital Management now owns 673 shares of the company’s stock valued at $35,000 after purchasing an additional 235 shares during the last quarter. Ballentine Partners LLC grew its stake in shares of Avnet by 3.5% in the third quarter. Ballentine Partners LLC now owns 7,324 shares of the company’s stock valued at $383,000 after acquiring an additional 249 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Avnet by 53.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 737 shares of the company’s stock valued at $35,000 after acquiring an additional 258 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of Avnet by 1.0% in the second quarter. Lazard Asset Management LLC now owns 28,877 shares of the company’s stock valued at $1,532,000 after acquiring an additional 279 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AVT shares. Zacks Research upgraded shares of Avnet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Wells Fargo & Company upped their price target on shares of Avnet from $60.00 to $70.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Bank of America upgraded shares of Avnet from an “underperform” rating to a “neutral” rating and upped their price target for the company from $66.00 to $96.00 in a research note on Wednesday, May 13th. Raymond James Financial restated a “strong-buy” rating and issued a $95.00 price target on shares of Avnet in a research note on Thursday, April 30th. Finally, Weiss Ratings downgraded shares of Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.00.

Avnet Trading Down 1.6%

AVT opened at $83.40 on Friday. Avnet, Inc. has a twelve month low of $44.25 and a twelve month high of $87.46. The company has a 50-day simple moving average of $71.29 and a 200 day simple moving average of $59.98. The company has a quick ratio of 1.05, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 32.45, a P/E/G ratio of 0.38 and a beta of 1.09.

Avnet (NASDAQ:AVT) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.15. Avnet had a net margin of 0.86% and a return on equity of 7.07%. The business had revenue of $7.12 billion during the quarter, compared to analysts’ expectations of $6.45 billion. During the same quarter in the prior year, the business posted $0.84 earnings per share. Avnet’s revenue was up 34.0% compared to the same quarter last year. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. Analysts predict that Avnet, Inc. will post 5.12 EPS for the current fiscal year.

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.40 annualized dividend and a yield of 1.7%. Avnet’s dividend payout ratio is currently 54.47%.

Insiders Place Their Bets

In other news, CEO Philip R. Gallagher sold 23,920 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $82.92, for a total value of $1,983,446.40. Following the completion of the transaction, the chief executive officer owned 145,003 shares of the company’s stock, valued at approximately $12,023,648.76. This represents a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by corporate insiders.

About Avnet

Avnet, Inc (NASDAQ: AVT) is a global technology distributor and solutions provider specializing in the sourcing, design, and supply chain management of electronic components and embedded systems. The company offers a broad portfolio of semiconductors, interconnect, passive and electromechanical components, as well as embedded hardware and software, cloud solutions, and Internet of Things (IoT) services. Avnet’s offerings aim to support customers through every stage of the product lifecycle, from initial prototype and design to production and end-of-life management.

Founded in 1921 by Charles Avnet, the company has evolved from a regional radio parts supplier into a multinational enterprise.