Avista Co. (NYSE:AVA) Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd decreased its holdings in shares of Avista Co. (NYSE:AVA) by 10.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,770 shares of the utilities provider’s stock after selling 6,075 shares during the quarter. Magellan Asset Management Ltd owned about 0.07% of Avista worth $1,933,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in Avista by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,253,280 shares of the utilities provider’s stock valued at $45,908,000 after acquiring an additional 24,981 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Avista during the fourth quarter worth approximately $561,000. A. D. Beadell Investment Counsel Inc. purchased a new position in Avista during the fourth quarter worth approximately $1,340,000. Geode Capital Management LLC boosted its stake in Avista by 1.5% during the third quarter. Geode Capital Management LLC now owns 1,828,230 shares of the utilities provider’s stock worth $70,857,000 after buying an additional 27,328 shares during the last quarter. Finally, Vestcor Inc purchased a new stake in Avista in the 4th quarter valued at $310,000. 85.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Scott J. Kinney sold 2,298 shares of Avista stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $38.75, for a total value of $89,047.50. Following the completion of the sale, the vice president now owns 12,539 shares in the company, valued at approximately $485,886.25. This trade represents a 15.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reduced their price target on Avista from $40.00 to $39.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th.

Avista Stock Up 0.6 %

AVA stock opened at $42.51 on Thursday. Avista Co. has a one year low of $33.00 and a one year high of $42.52. The firm has a market cap of $3.41 billion, a PE ratio of 16.94, a PEG ratio of 2.56 and a beta of 0.46. The firm’s 50 day moving average price is $38.55 and its 200-day moving average price is $37.85. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.48 and a current ratio of 0.75.

Avista (NYSE:AVA) last posted its earnings results on Wednesday, February 26th. The utilities provider reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). The business had revenue of $517.00 million during the quarter, compared to analysts’ expectations of $487.48 million. Avista had a net margin of 10.24% and a return on equity of 7.83%. On average, equities research analysts anticipate that Avista Co. will post 2.3 EPS for the current year.

Avista Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This is a boost from Avista’s previous quarterly dividend of $0.48. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.61%. Avista’s dividend payout ratio (DPR) is currently 86.34%.

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.