State Street Corp reduced its stake in Avista Corp. (NYSE:AVA) by 2.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,460,749 shares of the company’s stock after selling 40,752 shares during the period. State Street Corp owned approximately 2.34% of Avista Corp. worth $59,570,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers boosted its position in Avista Corp. by 6.6% in the fourth quarter. Rhumbline Advisers now owns 118,452 shares of the company’s stock valued at $4,190,000 after buying an additional 7,290 shares during the period. Mutual of America Capital Management LLC boosted its position in Avista Corp. by 9.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 136,654 shares of the company’s stock valued at $4,833,000 after buying an additional 11,914 shares during the period. State of Tennessee Treasury Department bought a new position in Avista Corp. during the fourth quarter valued at $1,719,000. Banco BTG Pactual SA bought a new position in Avista Corp. during the fourth quarter valued at $1,061,000. Finally, American Investment Services Inc. bought a new position in Avista Corp. during the fourth quarter valued at $1,033,000.
Shares of Avista Corp. (NYSE:AVA) traded down 0.70% on Tuesday, reaching $43.76. 194,776 shares of the company’s stock were exchanged. Avista Corp. has a one year low of $29.77 and a one year high of $45.22. The firm has a market cap of $2.77 billion and a PE ratio of 20.61. The company has a 50 day moving average price of $43.24 and a 200 day moving average price of $40.06.
AVA has been the topic of several research analyst reports. Zacks Investment Research cut shares of Avista Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, June 9th. Mizuho assumed coverage on shares of Avista Corp. in a research report on Thursday, March 31st. They issued a “neutral” rating and a $41.00 price objective on the stock. Williams Capital increased their price target on shares of Avista Corp. from $35.00 to $37.00 and gave the company a “hold” rating in a research report on Thursday, May 5th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $42.00 price target on shares of Avista Corp. in a research report on Wednesday, June 22nd.
In other Avista Corp. news, VP James M. Kensok sold 650 shares of the firm’s stock in a transaction on Friday, May 6th. The stock was sold at an average price of $41.09, for a total transaction of $26,708.50. Following the completion of the sale, the vice president now owns 13,876 shares of the company’s stock, valued at $570,164.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Erik J. Anderson sold 2,400 shares of the firm’s stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $42.36, for a total value of $101,664.00. Following the sale, the director now directly owns 18,595 shares of the company’s stock, valued at approximately $787,684.20. The disclosure for this sale can be found here.
Avista Corporation is an electric and natural gas utility with certain other business ventures. The Company operates through two business segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). Avista Utilities segment generates, transmits and distributes electricity, and distributes natural gas serving electric and natural gas customers in eastern Washington and northern Idaho and natural gas customers in parts of Oregon.
