Avista Corporation $AVA Shares Sold by South Dakota Investment Council

South Dakota Investment Council lessened its holdings in shares of Avista Corporation (NYSE:AVA) by 26.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,782 shares of the utilities provider’s stock after selling 14,000 shares during the quarter. South Dakota Investment Council’s holdings in Avista were worth $1,466,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AVA. Salomon & Ludwin LLC acquired a new position in Avista during the third quarter worth about $26,000. Bessemer Group Inc. lifted its stake in Avista by 54.8% in the 2nd quarter. Bessemer Group Inc. now owns 884 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 313 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Avista during the 2nd quarter worth approximately $37,000. Allworth Financial LP grew its position in shares of Avista by 51.7% in the second quarter. Allworth Financial LP now owns 1,585 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 540 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Avista by 30.1% in the third quarter. GAMMA Investing LLC now owns 1,769 shares of the utilities provider’s stock valued at $67,000 after purchasing an additional 409 shares during the last quarter. 85.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Avista news, SVP Bryan Alden Cox sold 1,768 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $40.18, for a total value of $71,038.24. Following the sale, the senior vice president directly owned 8,401 shares in the company, valued at $337,552.18. This trade represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Wayne O. Manuel sold 1,785 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $38.74, for a total value of $69,150.90. Following the transaction, the senior vice president directly owned 9,883 shares of the company’s stock, valued at approximately $382,867.42. This represents a 15.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.96% of the stock is owned by corporate insiders.

Avista Stock Down 0.9%

Shares of AVA opened at $39.99 on Friday. The company’s 50-day simple moving average is $40.55 and its 200-day simple moving average is $39.06. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.56 and a current ratio of 0.83. Avista Corporation has a 1 year low of $35.50 and a 1 year high of $43.50. The stock has a market capitalization of $3.29 billion, a PE ratio of 16.80, a P/E/G ratio of 2.18 and a beta of 0.28.

Avista (NYSE:AVA) last announced its earnings results on Saturday, January 31st. The utilities provider reported $0.88 earnings per share for the quarter. Avista had a net margin of 9.83% and a return on equity of 7.29%. Analysts forecast that Avista Corporation will post 2.3 earnings per share for the current fiscal year.

Avista Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Wednesday, February 25th will be paid a dividend of $0.4925 per share. This represents a $1.97 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Wednesday, February 25th. This is a positive change from Avista’s previous quarterly dividend of $0.49. Avista’s payout ratio is presently 82.77%.

Wall Street Analyst Weigh In

AVA has been the subject of several analyst reports. Jefferies Financial Group dropped their target price on Avista from $41.00 to $39.00 and set a “hold” rating for the company in a report on Wednesday, January 28th. KeyCorp restated a “sector weight” rating on shares of Avista in a research report on Tuesday, January 27th. Mizuho set a $42.00 price target on shares of Avista in a research note on Thursday, November 6th. Wells Fargo & Company reduced their price target on shares of Avista from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 20th. Finally, Weiss Ratings upgraded Avista from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 24th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $39.33.

About Avista

Avista Corporation operates as an integrated energy company providing electric and natural gas delivery services to residential, commercial and industrial customers in the Pacific Northwest. Through its regulated utility operations, the company maintains and upgrades an extensive transmission and distribution network, delivering reliable energy to approximately 400,000 electric customers and 324,000 natural gas customers across Washington, Oregon and Idaho. In addition to its core utility business, Avista invests in owned generation assets, including hydroelectric, natural gas–fired, coal and wind facilities, to support system reliability and long-term supply planning.

Founded in 1889 as the Spokane and Inland Empire Water Power Company, the business adopted the Avista name in 1999 to reflect its growing energy portfolio and strategic focus on innovation.