Canada Pension Plan Investment Board lifted its holdings in shares of Avnet, Inc. (NYSE:AVT) by 304.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 214,010 shares of the company’s stock after purchasing an additional 161,088 shares during the period. Canada Pension Plan Investment Board owned 0.17% of Avnet worth $8,411,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. Pzena Investment Management LLC raised its stake in Avnet by 39.1% during the second quarter. Pzena Investment Management LLC now owns 7,583,434 shares of the company’s stock worth $294,844,000 after buying an additional 2,133,389 shares during the last quarter. Prudential PLC raised its stake in Avnet by 33.2% during the second quarter. Prudential PLC now owns 4,557,200 shares of the company’s stock worth $177,184,000 after buying an additional 1,134,700 shares during the last quarter. Longview Partners Guernsey LTD raised its stake in Avnet by 17.8% during the second quarter. Longview Partners Guernsey LTD now owns 4,142,514 shares of the company’s stock worth $161,061,000 after buying an additional 626,708 shares during the last quarter. FMR LLC raised its stake in Avnet by 102.0% during the second quarter. FMR LLC now owns 3,806,767 shares of the company’s stock worth $148,007,000 after buying an additional 1,922,592 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its stake in Avnet by 45.8% during the second quarter. Thompson Siegel & Walmsley LLC now owns 3,127,270 shares of the company’s stock worth $121,589,000 after buying an additional 982,158 shares during the last quarter. Institutional investors own 93.37% of the company’s stock.

In other Avnet news, Director J Veronica Biggins sold 10,600 shares of Avnet stock in a transaction on Thursday, August 17th. The shares were sold at an average price of C$37.10, for a total value of C$393,260.00. Following the completion of the sale, the director now directly owns 12,191 shares of the company’s stock, valued at C$452,286.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.65% of the company’s stock.

Shares of Avnet, Inc. (NYSE:AVT) opened at C$39.56 on Friday. Avnet, Inc. has a 52 week low of C$35.67 and a 52 week high of C$51.50. The company has a quick ratio of 1.63, a current ratio of 2.78 and a debt-to-equity ratio of 0.29. The firm has a market cap of $4,783.87, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 1.29 and a beta of 1.08.

Avnet (NYSE:AVT) last posted its quarterly earnings results on Thursday, October 26th. The company reported C$0.76 earnings per share for the quarter, beating the consensus estimate of C$0.71 by C$0.05. Avnet had a net margin of 2.86% and a return on equity of 8.20%. The firm had revenue of C$4.66 billion during the quarter, compared to the consensus estimate of C$4.34 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The business’s revenue was up 13.2% compared to the same quarter last year. equities research analysts predict that Avnet, Inc. will post 3.36 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Wednesday, December 6th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.82%. Avnet’s dividend payout ratio (DPR) is currently 17.96%.

Avnet announced that its board has approved a stock repurchase program on Friday, November 10th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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A number of equities analysts recently weighed in on the stock. ValuEngine raised shares of Avnet from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Stifel Nicolaus lifted their target price on shares of Avnet from $40.00 to $42.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. TheStreet downgraded shares of Avnet from a “b” rating to a “c” rating in a research note on Thursday, October 26th. BidaskClub downgraded shares of Avnet from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $39.00 target price (down previously from $40.00) on shares of Avnet in a research note on Thursday, August 10th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Avnet has an average rating of “Hold” and an average target price of C$40.29.

Avnet Company Profile

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.

Institutional Ownership by Quarter for Avnet (NYSE:AVT)

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