Prentiss Smith & Co. Inc. continued to hold its position in shares of Avista Corp (NYSE:AVA) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,312 shares of the company’s stock at the end of the first quarter. Prentiss Smith & Co. Inc.’s holdings in Avista Corp were worth $129,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. boosted its position in shares of Avista Corp by 17.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,032,887 shares of the company’s stock worth $84,954,000 after buying an additional 309,202 shares during the last quarter. Northern Trust Corp boosted its position in shares of Avista Corp by 1.8% in the third quarter. Northern Trust Corp now owns 1,759,457 shares of the company’s stock worth $73,528,000 after buying an additional 30,559 shares during the last quarter. State Street Corp boosted its position in shares of Avista Corp by 5.3% in the fourth quarter. State Street Corp now owns 1,646,988 shares of the company’s stock worth $65,866,000 after buying an additional 82,188 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Avista Corp by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,276,246 shares of the company’s stock worth $51,038,000 after buying an additional 6,729 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Avista Corp by 5.1% in the third quarter. Bank of New York Mellon Corp now owns 1,090,958 shares of the company’s stock worth $45,591,000 after buying an additional 53,030 shares during the last quarter. 67.54% of the stock is owned by institutional investors and hedge funds.
Shares of Avista Corp (NYSE:AVA) traded up 0.18% during midday trading on Thursday, hitting $40.06. The stock had a trading volume of 139,967 shares. The firm’s 50-day moving average price is $39.32 and its 200-day moving average price is $39.90. Avista Corp has a 1-year low of $37.78 and a 1-year high of $45.22. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 18.63 and a beta of 0.37.
Avista Corp (NYSE:AVA) last posted its quarterly earnings data on Tuesday, February 21st. The company reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.05. The company earned $402.12 million during the quarter, compared to analyst estimates of $576.05 million. Avista Corp had a return on equity of 8.13% and a net margin of 9.39%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $0.61 earnings per share. Analysts forecast that Avista Corp will post $1.91 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Friday, February 24th were paid a dividend of $0.3575 per share. This is a positive change from Avista Corp’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Wednesday, February 22nd. This represents a $1.43 annualized dividend and a yield of 3.58%. Avista Corp’s dividend payout ratio (DPR) is currently 64.62%.
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AVA has been the subject of a number of recent research reports. Mizuho lowered their target price on Avista Corp from $41.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, February 23rd. Williams Capital reaffirmed a “hold” rating and issued a $37.00 target price (down previously from $38.00) on shares of Avista Corp in a report on Thursday, February 23rd. Finally, Zacks Investment Research cut Avista Corp from a “buy” rating to a “hold” rating in a report on Monday, December 19th. Five research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average target price of $40.25.
In related news, SVP Jason R. Thackston sold 1,250 shares of Avista Corp stock in a transaction on Monday, March 13th. The stock was sold at an average price of $38.97, for a total transaction of $48,712.50. Following the completion of the sale, the senior vice president now owns 27,049 shares of the company’s stock, valued at $1,054,099.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Karen S. Feltes sold 5,500 shares of Avista Corp stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $39.53, for a total value of $217,415.00. Following the sale, the insider now directly owns 28,114 shares of the company’s stock, valued at approximately $1,111,346.42. The disclosure for this sale can be found here. Insiders have sold 12,524 shares of company stock valued at $492,661 in the last three months. 1.07% of the stock is owned by corporate insiders.
Avista Corp Company Profile
Avista Corporation is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). The Company’s regional services include government and higher education, medical services, retail trade and finance. The Company’s businesses also include sheet metal fabrication, venture fund investments, real estate investments, a company that explores markets that could be served with liquefied natural gas (LNG), as well as certain other investments of Avista Capital, which is a subsidiary of the Company.
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