Yousif Capital Management LLC reduced its position in shares of Avista Co. (NYSE:AVA – Free Report) by 11.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,415 shares of the utilities provider’s stock after selling 5,370 shares during the period. Yousif Capital Management LLC owned approximately 0.06% of Avista worth $1,758,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Delta Asset Management LLC TN acquired a new position in Avista during the fourth quarter worth about $27,000. Cutler Group LLC CA acquired a new stake in Avista during the first quarter worth approximately $42,000. Benjamin Edwards Inc. boosted its position in Avista by 146.4% during the first quarter. Benjamin Edwards Inc. now owns 1,104 shares of the utilities provider’s stock worth $47,000 after acquiring an additional 656 shares during the last quarter. Lazard Asset Management LLC boosted its position in Avista by 178.0% during the first quarter. Lazard Asset Management LLC now owns 1,540 shares of the utilities provider’s stock worth $69,000 after acquiring an additional 986 shares during the last quarter. Finally, Belpointe Asset Management LLC acquired a new stake in Avista during the fourth quarter worth approximately $73,000. 89.15% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
AVA has been the topic of a number of recent analyst reports. Guggenheim cut their price target on shares of Avista from $35.00 to $33.00 in a research note on Friday, July 7th. Mizuho cut their price target on shares of Avista from $38.00 to $36.00 and set an “underperform” rating on the stock in a research note on Friday, July 21st. Finally, StockNews.com assumed coverage on shares of Avista in a research note on Thursday, May 18th. They issued a “sell” rating on the stock.
Avista Price Performance
Avista (NYSE:AVA – Get Free Report) last released its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.43). The firm had revenue of $474.60 million for the quarter, compared to analyst estimates of $485.37 million. Avista had a net margin of 8.04% and a return on equity of 6.02%. Avista’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 earnings per share. Equities research analysts expect that Avista Co. will post 2.32 EPS for the current fiscal year.
Avista Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Friday, May 26th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 4.76%. The ex-dividend date was Thursday, May 25th. Avista’s dividend payout ratio is currently 98.93%.
Insiders Place Their Bets
In other Avista news, CEO Jason R. Thackston sold 3,000 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $41.13, for a total transaction of $123,390.00. Following the completion of the transaction, the chief executive officer now directly owns 28,274 shares of the company’s stock, valued at approximately $1,162,909.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Jason R. Thackston sold 3,000 shares of Avista stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $41.13, for a total value of $123,390.00. Following the completion of the transaction, the chief executive officer now directly owns 28,274 shares of the company’s stock, valued at approximately $1,162,909.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark T. Thies sold 46,006 shares of Avista stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $41.45, for a total transaction of $1,906,948.70. Following the completion of the transaction, the executive vice president now directly owns 95,467 shares of the company’s stock, valued at $3,957,107.15. The disclosure for this sale can be found here. Insiders sold a total of 49,806 shares of company stock valued at $2,062,843 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.
Avista Company Profile
Avista Corporation, together with its subsidiaries, 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.
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