New York Life Investment Management LLC reduced its stake in Avista Co. (NYSE:AVA – Free Report) by 10.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,213 shares of the utilities provider’s stock after selling 1,351 shares during the quarter. New York Life Investment Management LLC’s holdings in Avista were worth $476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Avista by 2.6% in the third quarter. Vanguard Group Inc. now owns 8,839,530 shares of the utilities provider’s stock valued at $327,504,000 after purchasing an additional 228,077 shares in the last quarter. State Street Corp raised its stake in Avista by 1.4% in the third quarter. State Street Corp now owns 3,483,540 shares of the utilities provider’s stock valued at $129,065,000 after purchasing an additional 49,174 shares in the last quarter. Millennium Management LLC raised its stake in Avista by 624.7% in the fourth quarter. Millennium Management LLC now owns 2,945,495 shares of the utilities provider’s stock valued at $130,603,000 after purchasing an additional 2,539,057 shares in the last quarter. First Trust Advisors LP raised its stake in Avista by 11.0% in the fourth quarter. First Trust Advisors LP now owns 1,818,226 shares of the utilities provider’s stock valued at $80,621,000 after purchasing an additional 179,814 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Avista by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,368,575 shares of the utilities provider’s stock valued at $60,683,000 after purchasing an additional 46,295 shares in the last quarter. 89.15% of the stock is owned by hedge funds and other institutional investors.
Avista Stock Up 0.4 %
Shares of NYSE AVA opened at $34.08 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 1.08. Avista Co. has a 52 week low of $33.77 and a 52 week high of $45.28. The firm’s fifty day moving average is $38.64 and its 200 day moving average is $40.93. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 2.31 and a beta of 0.49.
Avista Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 18th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 5.40%. The ex-dividend date of this dividend is Thursday, August 17th. Avista’s dividend payout ratio (DPR) is currently 95.34%.
Wall Street Analysts Forecast Growth
Several research analysts have commented on AVA shares. StockNews.com started coverage on shares of Avista in a research note on Thursday. They set a “hold” rating on the stock. Guggenheim decreased their price target on shares of Avista from $35.00 to $33.00 in a research note on Friday, July 7th. Finally, Mizuho decreased their price target on shares of Avista from $38.00 to $36.00 in a research note on Wednesday, August 9th.
Get Our Latest Stock Analysis on AVA
Insider Activity at Avista
In related news, VP Scott J. Kinney purchased 1,257 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were acquired at an average price of $40.08 per share, for a total transaction of $50,380.56. Following the completion of the acquisition, the vice president now directly owns 1,257 shares in the company, valued at approximately $50,380.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jason R. Thackston sold 3,000 shares of Avista stock in a transaction dated Monday, June 5th. The stock was 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 owns 28,274 shares of the company’s stock, valued at approximately $1,162,909.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Scott J. Kinney purchased 1,257 shares of the stock in a transaction dated Thursday, June 15th. The stock was bought at an average cost of $40.08 per share, with a total value of $50,380.56. Following the transaction, the vice president now owns 1,257 shares in the company, valued at $50,380.56. The disclosure for this purchase can be found here. Insiders have sold a total of 50,856 shares of company stock worth $2,101,588 over the last quarter. Corporate insiders own 1.00% of the company’s stock.
About Avista
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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