RWC Asset Management LLP Buys 222,500 Shares of Avista Co. (NYSE:AVA)

RWC Asset Management LLP boosted its position in Avista Co. (NYSE:AVA) by 70.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 538,517 shares of the utilities provider’s stock after buying an additional 222,500 shares during the period. RWC Asset Management LLP owned approximately 0.68% of Avista worth $19,726,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AVA. Ieq Capital LLC increased its holdings in shares of Avista by 36.0% during the fourth quarter. Ieq Capital LLC now owns 7,747 shares of the utilities provider’s stock valued at $284,000 after acquiring an additional 2,050 shares in the last quarter. Convergence Investment Partners LLC grew its position in Avista by 4.3% in the 4th quarter. Convergence Investment Partners LLC now owns 45,459 shares of the utilities provider’s stock valued at $1,665,000 after purchasing an additional 1,878 shares during the period. Truist Financial Corp increased its stake in Avista by 11.0% during the 4th quarter. Truist Financial Corp now owns 41,675 shares of the utilities provider’s stock valued at $1,527,000 after purchasing an additional 4,130 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Avista by 4.7% during the fourth quarter. CIBC Asset Management Inc now owns 7,814 shares of the utilities provider’s stock worth $286,000 after buying an additional 351 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Avista by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 439,680 shares of the utilities provider’s stock valued at $16,105,000 after buying an additional 19,153 shares in the last quarter. 85.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group decreased their target price on shares of Avista from $40.00 to $39.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th.

Avista Stock Up 1.1 %

Shares of NYSE:AVA opened at $37.91 on Monday. The business’s 50 day moving average is $36.58 and its 200 day moving average is $37.55. Avista Co. has a 12-month low of $32.70 and a 12-month high of $39.99. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 2.53 and a beta of 0.49. The company has a quick ratio of 0.48, a current ratio of 0.75 and a debt-to-equity ratio of 1.05.

Avista Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 5.17%. This is an increase from Avista’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Wednesday, February 26th. Avista’s payout ratio is currently 75.70%.

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.