Guggenheim Capital LLC trimmed its stake in shares of Avista Corp (NYSE:AVA) by 41.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,173 shares of the utilities provider’s stock after selling 109,278 shares during the quarter. Guggenheim Capital LLC owned approximately 0.24% of Avista worth $8,005,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the company. LPL Financial LLC raised its position in shares of Avista by 57.8% during the first quarter. LPL Financial LLC now owns 9,350 shares of the utilities provider’s stock worth $479,000 after acquiring an additional 3,425 shares during the last quarter. Ancora Advisors LLC bought a new position in shares of Avista during the first quarter worth about $527,000. Barclays PLC raised its position in shares of Avista by 77.7% during the first quarter. Barclays PLC now owns 51,254 shares of the utilities provider’s stock worth $2,627,000 after acquiring an additional 22,419 shares during the last quarter. Magellan Asset Management Ltd raised its position in shares of Avista by 11.8% during the first quarter. Magellan Asset Management Ltd now owns 48,921 shares of the utilities provider’s stock worth $2,507,000 after acquiring an additional 5,173 shares during the last quarter. Finally, Farallon Capital Management LLC acquired a new stake in Avista during the first quarter worth approximately $20,500,000. Institutional investors own 77.67% of the company’s stock.
Avista opened at $52.66 on Friday, according to Marketbeat Ratings. Avista Corp has a one year low of $41.21 and a one year high of $52.89. The company has a market cap of $3.46 billion, a P/E ratio of 27.01 and a beta of 0.32. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.88.
Avista (NYSE:AVA) last released its earnings results on Wednesday, May 2nd. The utilities provider reported $0.83 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.05). Avista had a return on equity of 7.25% and a net margin of 7.66%. The business had revenue of $388.75 million for the quarter. During the same period in the prior year, the company earned $0.96 earnings per share. Avista’s revenue for the quarter was down 6.4% compared to the same quarter last year. research analysts predict that Avista Corp will post 2.05 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Friday, May 25th were paid a dividend of $0.3725 per share. The ex-dividend date of this dividend was Thursday, May 24th. This represents a $1.49 annualized dividend and a yield of 2.83%. Avista’s dividend payout ratio is currently 76.41%.
In related news, VP David J. Meyer sold 1,709 shares of the firm’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $52.66, for a total transaction of $89,995.94. Following the completion of the sale, the vice president now owns 5,367 shares of the company’s stock, valued at $282,626.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jason R. Thackston sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $52.32, for a total value of $78,480.00. Following the sale, the senior vice president now directly owns 30,244 shares of the company’s stock, valued at approximately $1,582,366.08. The disclosure for this sale can be found here. Insiders have sold 11,809 shares of company stock valued at $621,532 in the last ninety days. 1.10% of the stock is currently owned by insiders.
Separately, ValuEngine raised Avista from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Avista presently has a consensus rating of “Hold” and an average target price of $50.67.
Avista Corporation operates as an electric and natural gas utility company. It operates through 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.
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