Avista Corp (NYSE:AVA) Position Boosted by Icon Advisers Inc. Co.
Icon Advisers Inc. Co. boosted its position in Avista Corp (NYSE:AVA) by 187.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,300 shares of the utilities provider’s stock after purchasing an additional 21,700 shares during the period. Icon Advisers Inc. Co. owned approximately 0.05% of Avista worth $1,485,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Avista by 8.1% in the first quarter. BlackRock Inc. now owns 12,524,697 shares of the utilities provider’s stock worth $508,754,000 after purchasing an additional 938,978 shares during the period. Acadian Asset Management LLC acquired a new stake in Avista in the first quarter worth approximately $40,892,000. First Trust Advisors LP lifted its position in Avista by 15.5% in the second quarter. First Trust Advisors LP now owns 826,425 shares of the utilities provider’s stock worth $36,859,000 after purchasing an additional 110,737 shares during the period. Geode Capital Management LLC lifted its position in Avista by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 687,166 shares of the utilities provider’s stock worth $29,190,000 after purchasing an additional 45,108 shares during the period. Finally, OLD Republic International Corp lifted its position in Avista by 67.7% in the first quarter. OLD Republic International Corp now owns 674,000 shares of the utilities provider’s stock worth $27,378,000 after purchasing an additional 272,000 shares during the period. Hedge funds and other institutional investors own 79.25% of the company’s stock.
In other news, insider Marian M. Durkin sold 10,004 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $44.11, for a total transaction of $441,276.44. Following the completion of the sale, the insider now owns 78,451 shares in the company, valued at approximately $3,460,473.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kevin J. Christie sold 780 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $41.78, for a total value of $32,588.40. Following the sale, the vice president now owns 9,229 shares of the company’s stock, valued at approximately $385,587.62. The disclosure for this sale can be found here. Insiders have sold a total of 36,236 shares of company stock valued at $1,596,374 in the last quarter. Insiders own 1.10% of the company’s stock.
Shares of NYSE:AVA traded up $0.64 on Friday, reaching $46.48. 287,500 shares of the company traded hands, compared to its average volume of 339,443. Avista Corp has a fifty-two week low of $39.75 and a fifty-two week high of $52.70. The company’s 50 day moving average is $45.47 and its 200-day moving average is $42.81. The stock has a market capitalization of $3.07 billion, a PE ratio of 22.03, a P/E/G ratio of 7.07 and a beta of 0.41. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.52 and a quick ratio of 0.39.
Avista (NYSE:AVA) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. Avista had a return on equity of 6.35% and a net margin of 14.43%. The company had revenue of $300.81 million during the quarter, compared to the consensus estimate of $315.08 million. During the same quarter in the prior year, the firm earned $0.39 EPS. As a group, analysts expect that Avista Corp will post 1.95 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.387 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.33%. Avista’s dividend payout ratio (DPR) is presently 73.46%.
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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