Robeco Institutional Asset Management B.V. Raises Stake in Avista Corp. (AVA)
Robeco Institutional Asset Management B.V. boosted its stake in Avista Corp. (NYSE:AVA) by 16.8% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 496,328 shares of the company’s stock after buying an additional 71,531 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Avista Corp. were worth $20,742,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Avista Corp. by 10.9% in the second quarter. Vanguard Group Inc. now owns 6,029,702 shares of the company’s stock valued at $270,130,000 after buying an additional 593,353 shares during the period. Victory Capital Management Inc. boosted its position in Avista Corp. by 2,958.5% in the third quarter. Victory Capital Management Inc. now owns 454,762 shares of the company’s stock valued at $19,004,000 after buying an additional 439,893 shares during the period. BlackRock Fund Advisors boosted its position in Avista Corp. by 6.1% in the second quarter. BlackRock Fund Advisors now owns 7,179,309 shares of the company’s stock valued at $321,633,000 after buying an additional 413,934 shares during the period. First Trust Advisors LP boosted its position in Avista Corp. by 31.6% in the second quarter. First Trust Advisors LP now owns 422,174 shares of the company’s stock valued at $18,913,000 after buying an additional 101,326 shares during the period. Finally, Emerald Acquisition Ltd. bought a new position in Avista Corp. during the second quarter valued at about $3,538,000. Hedge funds and other institutional investors own 68.96% of the company’s stock.
Avista Corp. (NYSE:AVA) traded up 0.55% during mid-day trading on Tuesday, reaching $42.06. 46,604 shares of the company traded hands. The firm has a market cap of $2.70 billion, a PE ratio of 19.54 and a beta of 0.37. The stock’s 50-day moving average price is $40.33 and its 200-day moving average price is $41.62. Avista Corp. has a one year low of $33.00 and a one year high of $45.22.
Avista Corp. (NYSE:AVA) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by $0.02. Avista Corp. had a net margin of 9.39% and a return on equity of 8.13%. The firm had revenue of $303.35 million for the quarter, compared to the consensus estimate of $306.78 million. During the same period in the prior year, the business earned $0.21 earnings per share. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. Analysts forecast that Avista Corp. will post $2.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 18th will be given a $0.3425 dividend. This represents a $1.37 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Wednesday, November 16th. Avista Corp.’s payout ratio is presently 64.62%.
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Several research firms have recently issued reports on AVA. Guggenheim began coverage on shares of Avista Corp. in a report on Thursday, November 3rd. They issued a “neutral” rating for the company. Zacks Investment Research raised shares of Avista Corp. from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Wednesday, October 19th. Finally, Williams Capital increased their target price on shares of Avista Corp. from $38.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, September 22nd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $42.00.
In other Avista Corp. news, SVP Jason R. Thackston sold 950 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $40.90, for a total value of $38,855.00. Following the completion of the sale, the senior vice president now owns 17,232 shares in the company, valued at approximately $704,788.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.07% of the stock is currently owned by company insiders.
Avista Corp. Company Profile
Avista Corporation is an electric and natural gas utility with certain other business ventures. The Company operates through two business segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). Avista Utilities segment generates, transmits and distributes electricity, and distributes natural gas serving electric and natural gas customers in eastern Washington and northern Idaho and natural gas customers in parts of Oregon.
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