Intech Investment Management LLC Trims Position in Avista Corporation $AVA

Intech Investment Management LLC lessened its holdings in shares of Avista Corporation (NYSE:AVA) by 30.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,408 shares of the utilities provider’s stock after selling 25,073 shares during the quarter. Intech Investment Management LLC’s holdings in Avista were worth $2,217,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Ameritas Advisory Services LLC bought a new position in Avista in the 2nd quarter worth $34,000. Bessemer Group Inc. increased its position in shares of Avista by 54.8% during the second quarter. Bessemer Group Inc. now owns 884 shares of the utilities provider’s stock valued at $34,000 after buying an additional 313 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Avista during the first quarter valued at about $43,000. GAMMA Investing LLC raised its stake in Avista by 48.5% in the second quarter. GAMMA Investing LLC now owns 1,360 shares of the utilities provider’s stock worth $52,000 after buying an additional 444 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in Avista by 51.7% in the second quarter. Allworth Financial LP now owns 1,585 shares of the utilities provider’s stock worth $60,000 after buying an additional 540 shares during the period. Institutional investors own 85.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AVA shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Avista in a report on Wednesday. Wells Fargo & Company raised Avista to a “hold” rating in a research note on Tuesday, October 28th. Mizuho set a $42.00 price objective on Avista in a report on Thursday, November 6th. Finally, Jefferies Financial Group boosted their target price on shares of Avista from $40.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $40.33.

Avista Trading Up 0.3%

Shares of AVA stock opened at $40.78 on Friday. Avista Corporation has a 1 year low of $34.80 and a 1 year high of $43.09. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.00 and a quick ratio of 0.68. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 2.14 and a beta of 0.39. The firm has a fifty day moving average price of $38.37 and a 200-day moving average price of $37.98.

Avista (NYSE:AVA) last posted its quarterly earnings results on Wednesday, November 5th. The utilities provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.09. Avista had a return on equity of 6.86% and a net margin of 9.13%.During the same period in the prior year, the business posted $0.23 earnings per share. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. Avista has set its FY 2025 guidance at 2.520-2.720 EPS. As a group, equities analysts predict that Avista Corporation will post 2.3 earnings per share for the current year.

Avista Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, November 24th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Monday, November 24th. Avista’s dividend payout ratio is currently 83.40%.

Insider Buying and Selling at Avista

In other Avista news, SVP Bryan Alden Cox bought 3,671 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were bought at an average cost of $35.55 per share, for a total transaction of $130,504.05. Following the acquisition, the senior vice president directly owned 9,989 shares in the company, valued at approximately $355,108.95. The trade was a 58.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP David J. Meyer sold 1,367 shares of Avista stock in a transaction on Friday, September 5th. The stock was sold at an average price of $36.72, for a total transaction of $50,196.24. Following the completion of the transaction, the vice president directly owned 8,394 shares in the company, valued at $308,227.68. This represents a 14.00% 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.

Avista Company Profile

Avista Corporation, together with its subsidiaries, operates as an electric and natural gas utility company. It operates in 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.