Avnet, Inc. (AVT) Holdings Increased by Janus Henderson Group PLC
Janus Henderson Group PLC grew its stake in shares of Avnet, Inc. (NYSE:AVT) by 262.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 764,285 shares of the technology company’s stock after buying an additional 553,130 shares during the quarter. Janus Henderson Group PLC owned about 0.63% of Avnet worth $30,037,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Alpha Windward LLC bought a new stake in shares of Avnet in the 3rd quarter worth approximately $507,000. Engineers Gate Manager LP bought a new stake in shares of Avnet in the 2nd quarter worth approximately $4,773,000. Diamond Hill Capital Management Inc. raised its holdings in shares of Avnet by 77.0% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,142,818 shares of the technology company’s stock worth $44,913,000 after purchasing an additional 497,203 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Avnet by 1.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 373,313 shares of the technology company’s stock worth $14,514,000 after purchasing an additional 4,083 shares in the last quarter. Finally, Cipher Capital LP raised its holdings in shares of Avnet by 68.9% in the 2nd quarter. Cipher Capital LP now owns 33,226 shares of the technology company’s stock worth $1,292,000 after purchasing an additional 13,552 shares in the last quarter. Institutional investors own 95.95% of the company’s stock.
In other news, CEO Amelio J. William purchased 3,000 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were acquired at an average price of $39.16 per share, for a total transaction of $117,480.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.65% of the stock is owned by insiders.
Shares of Avnet, Inc. (NYSE AVT) opened at $39.88 on Thursday. Avnet, Inc. has a 1-year low of $35.67 and a 1-year high of $49.19. The company has a current ratio of 2.78, a quick ratio of 1.63 and a debt-to-equity ratio of 0.29. The stock has a market cap of $4,820.17, a P/E ratio of 12.27, a PEG ratio of 1.30 and a beta of 1.09.
Avnet (NYSE:AVT) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.05. Avnet had a net margin of 2.86% and a return on equity of 8.20%. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.34 billion. During the same quarter in the previous year, the business earned $0.91 earnings per share. The firm’s revenue was up 13.2% compared to the same quarter last year. analysts forecast that Avnet, Inc. will post 3.36 EPS for the current fiscal year.
Avnet announced that its board has initiated a share buyback plan on Friday, November 10th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 19th. Stockholders of record on Wednesday, December 6th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, December 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.81%. Avnet’s dividend payout ratio is currently 17.96%.
Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.
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