Geode Capital Management LLC Grows Stock Holdings in Avista Corporation $AVA

Geode Capital Management LLC lifted its position in Avista Corporation (NYSE:AVA) by 2.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,958,034 shares of the utilities provider’s stock after purchasing an additional 46,321 shares during the quarter. Geode Capital Management LLC owned 2.43% of Avista worth $74,316,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Cerity Partners LLC purchased a new position in shares of Avista during the first quarter worth approximately $222,000. Y Intercept Hong Kong Ltd bought a new position in shares of Avista during the 1st quarter valued at $505,000. Cetera Investment Advisers raised its position in Avista by 9.1% in the 1st quarter. Cetera Investment Advisers now owns 31,339 shares of the utilities provider’s stock worth $1,312,000 after purchasing an additional 2,617 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Avista by 5.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,290 shares of the utilities provider’s stock worth $891,000 after purchasing an additional 1,055 shares during the last quarter. Finally, Inspire Advisors LLC boosted its position in Avista by 37.3% during the first quarter. Inspire Advisors LLC now owns 77,755 shares of the utilities provider’s stock valued at $3,256,000 after buying an additional 21,104 shares during the period. Institutional investors own 85.24% of the company’s stock.

Avista Stock Up 0.9%

Shares of NYSE:AVA opened at $41.19 on Friday. The stock’s 50-day moving average is $38.47 and its 200 day moving average is $37.94. The company has a market cap of $3.35 billion, a PE ratio of 18.55, a P/E/G ratio of 2.14 and a beta of 0.39. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.00 and a quick ratio of 0.68. Avista Corporation has a 1 year low of $34.80 and a 1 year high of $43.09.

Avista (NYSE:AVA) last issued its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.09. Avista had a return on equity of 6.86% and a net margin of 9.13%.During the same period last year, the company posted $0.23 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Avista has set its FY 2025 guidance at 2.520-2.720 EPS. Sell-side analysts anticipate that Avista Corporation will post 2.3 EPS for the current year.

Avista Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, November 24th will be issued a $0.49 dividend. The ex-dividend date is Monday, November 24th. This represents a $1.96 annualized dividend and a yield of 4.8%. Avista’s dividend payout ratio is 83.40%.

Insider Activity

In other Avista news, VP David J. Meyer sold 1,367 shares of the firm’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $36.72, for a total value of $50,196.24. Following the completion of the sale, the vice president directly owned 8,394 shares in the company, valued at $308,227.68. This trade represents a 14.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Bryan Alden Cox bought 3,671 shares of Avista stock in a transaction on Tuesday, September 16th. The shares were purchased at an average price of $35.55 per share, for a total transaction of $130,504.05. Following the acquisition, the senior vice president directly owned 9,989 shares in the company, valued at approximately $355,108.95. This trade represents a 58.10% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

AVA has been the topic of several analyst reports. Jefferies Financial Group lifted their price objective on Avista from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Wells Fargo & Company upgraded Avista to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Avista in a research note on Wednesday. Finally, Mizuho set a $42.00 price objective on Avista in a research report on Thursday, November 6th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Avista currently has an average rating of “Hold” and a consensus target price of $40.33.

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.