Intech Investment Management LLC Sells 17,840 Shares of Avista Corporation $AVA

Intech Investment Management LLC lessened its position in shares of Avista Corporation (NYSE:AVA) by 30.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 40,568 shares of the utilities provider’s stock after selling 17,840 shares during the quarter. Intech Investment Management LLC’s holdings in Avista were worth $1,534,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of AVA. Fox Run Management L.L.C. purchased a new position in Avista in the 3rd quarter worth approximately $273,000. Magellan Asset Management Ltd lifted its holdings in shares of Avista by 2.9% in the 3rd quarter. Magellan Asset Management Ltd now owns 51,953 shares of the utilities provider’s stock worth $1,964,000 after acquiring an additional 1,457 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Avista by 30.7% during the 3rd quarter. Citigroup Inc. now owns 110,693 shares of the utilities provider’s stock worth $4,185,000 after purchasing an additional 25,972 shares during the period. Personal CFO Solutions LLC grew its stake in shares of Avista by 25.4% during the third quarter. Personal CFO Solutions LLC now owns 6,886 shares of the utilities provider’s stock valued at $260,000 after buying an additional 1,395 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Avista by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,835,413 shares of the utilities provider’s stock valued at $409,687,000 after acquiring an additional 170,388 shares during the last quarter. Hedge funds and other institutional investors own 85.24% of the company’s stock.

Avista Stock Down 0.9%

NYSE AVA opened at $39.99 on Friday. The business’s fifty day simple moving average is $40.55 and its 200-day simple moving average is $39.06. The company has a quick ratio of 0.56, a current ratio of 0.83 and a debt-to-equity ratio of 1.04. The firm has a market cap 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 Corporation has a 52 week low of $35.50 and a 52 week high of $43.50.

Avista (NYSE:AVA) last released its quarterly earnings results on Saturday, January 31st. The utilities provider reported $0.88 EPS for the quarter. Avista had a net margin of 9.83% and a return on equity of 7.29%. As a group, equities analysts anticipate that Avista Corporation will post 2.3 earnings per share for the current year.

Avista Increases Dividend

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

Insider Buying and Selling at Avista

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AVA shares. 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 note on Tuesday, January 20th. Weiss Ratings raised shares of Avista from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 24th. Mizuho set a $42.00 target price on Avista in a report on Thursday, November 6th. KeyCorp reaffirmed a “sector weight” rating on shares of Avista in a report on Tuesday, January 27th. Finally, Jefferies Financial Group reduced their target price on Avista from $41.00 to $39.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Avista currently has a consensus rating of “Hold” and an average price target of $39.33.

Avista Profile

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.