Bank of Nova Scotia Invests $10.35 Million in Avista Corp (NYSE:AVA)

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Bank of Nova Scotia acquired a new stake in Avista Corp (NYSE:AVA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 196,500 shares of the utilities provider’s stock, valued at approximately $10,348,000. Bank of Nova Scotia owned 0.30% of Avista at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in AVA. Prudential Financial Inc. grew its stake in Avista by 3.2% in the 1st quarter. Prudential Financial Inc. now owns 110,430 shares of the utilities provider’s stock valued at $5,660,000 after purchasing an additional 3,470 shares during the period. Swiss National Bank lifted its position in shares of Avista by 2.3% during the 1st quarter. Swiss National Bank now owns 112,200 shares of the utilities provider’s stock valued at $5,750,000 after buying an additional 2,500 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Avista by 2.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 477,637 shares of the utilities provider’s stock valued at $24,479,000 after buying an additional 13,511 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Avista by 10.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 44,185 shares of the utilities provider’s stock valued at $2,264,000 after buying an additional 4,135 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its position in shares of Avista by 7.5% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 26,210 shares of the utilities provider’s stock valued at $1,343,000 after buying an additional 1,830 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

In related news, Director Heidi B. Stanley sold 3,000 shares of the stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $51.40, for a total transaction of $154,200.00. Following the sale, the director now owns 13,839 shares of the company’s stock, valued at approximately $711,324.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason R. Thackston sold 2,000 shares of the stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $50.55, for a total value of $101,100.00. Following the sale, the insider now directly owns 27,244 shares in the company, valued at approximately $1,377,184.20. The disclosure for this sale can be found here. Insiders have sold a total of 8,436 shares of company stock worth $431,456 in the last ninety days. Insiders own 1.10% of the company’s stock.

Shares of NYSE AVA traded down $0.10 during trading on Friday, reaching $50.78. 253,823 shares of the stock traded hands, compared to its average volume of 491,951. Avista Corp has a 52-week low of $47.50 and a 52-week high of $52.91. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.70. The stock has a market capitalization of $3.32 billion, a PE ratio of 26.04 and a beta of 0.19.

Avista (NYSE:AVA) last issued its quarterly earnings results on Wednesday, August 1st. The utilities provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. Avista had a return on equity of 7.39% and a net margin of 7.90%. The firm had revenue of $319.30 million for the quarter. During the same period in the prior year, the company earned $0.34 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, equities analysts expect that Avista Corp will post 2.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were given a dividend of $0.3725 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 2.93%. Avista’s dividend payout ratio is presently 76.41%.

Avista Profile

Avista Corporation operates as an electric and natural gas utility company. It operates through 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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Institutional Ownership by Quarter for Avista (NYSE:AVA)

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