Public Employees Retirement System of Ohio Reduces Holdings in Avnet (AVT)

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Public Employees Retirement System of Ohio lowered its position in shares of Avnet (NYSE:AVT) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 97,180 shares of the technology company’s stock after selling 2,110 shares during the period. Public Employees Retirement System of Ohio’s holdings in Avnet were worth $3,508,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pearl River Capital LLC acquired a new stake in shares of Avnet in the 4th quarter valued at about $61,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Avnet during the 4th quarter worth approximately $108,000. Northstar Wealth Partners LLC purchased a new position in Avnet during the 3rd quarter worth approximately $200,000. Cerebellum GP LLC acquired a new position in Avnet during the fourth quarter worth approximately $188,000. Finally, Canada Pension Plan Investment Board increased its position in Avnet by 5,495.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 6,211 shares of the technology company’s stock worth $224,000 after buying an additional 6,100 shares during the period. Institutional investors and hedge funds own 96.44% of the company’s stock.

Shares of AVT opened at $45.76 on Friday. Avnet has a fifty-two week low of $33.55 and a fifty-two week high of $49.40.

Avnet (NYSE:AVT) last posted its quarterly earnings data on Thursday, January 24th. The technology company reported $1.04 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.04. The company had revenue of $5.05 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same period in the prior year, the company earned $0.78 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Tuesday, March 12th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Monday, March 11th.

Separately, Zacks Investment Research downgraded Avnet from a “hold” rating to a “sell” rating in a report on Monday, December 31st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Avnet presently has an average rating of “Hold” and an average target price of $45.17.

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Avnet Company Profile

Avnet, Inc, together with its subsidiaries, distributes electronic components worldwide. The company operates through two segments, Electronic Components and Premier Farnell. The Electronic Components segment markets and sells semiconductors; electronic components, including interconnect, passive and electromechanical devices; and other integrated components from electronic component manufacturers.

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Institutional Ownership by Quarter for Avnet (NYSE:AVT)

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