Captrust Financial Advisors Boosts Stock Position in Avnet, Inc. (NASDAQ:AVT)

Captrust Financial Advisors increased its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 10.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,717 shares of the company’s stock after buying an additional 1,158 shares during the quarter. Captrust Financial Advisors’ holdings in Avnet were worth $691,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC raised its holdings in shares of Avnet by 24.7% during the 3rd quarter. FMR LLC now owns 576,794 shares of the company’s stock worth $31,326,000 after acquiring an additional 114,217 shares during the period. TCW Group Inc. boosted its holdings in Avnet by 72.5% in the 2nd quarter. TCW Group Inc. now owns 58,611 shares of the company’s stock valued at $3,018,000 after purchasing an additional 24,636 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Avnet by 8.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 159,985 shares of the company’s stock valued at $8,238,000 after buying an additional 12,238 shares during the period. Kendall Capital Management increased its holdings in shares of Avnet by 21.2% during the 2nd quarter. Kendall Capital Management now owns 118,843 shares of the company’s stock worth $6,119,000 after buying an additional 20,810 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Avnet by 46.8% during the 2nd quarter. Federated Hermes Inc. now owns 40,231 shares of the company’s stock valued at $2,071,000 after buying an additional 12,832 shares during the period. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Trading Down 1.9 %

Shares of Avnet stock opened at $53.71 on Wednesday. Avnet, Inc. has a fifty-two week low of $43.62 and a fifty-two week high of $59.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.07 and a current ratio of 2.25. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.01 and a beta of 1.14. The stock has a 50 day moving average of $54.52 and a 200 day moving average of $53.41.

Avnet (NASDAQ:AVT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.06. Avnet had a return on equity of 8.46% and a net margin of 1.51%. The firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period last year, the company earned $1.61 EPS. The company’s quarterly revenue was down 11.5% on a year-over-year basis. As a group, research analysts predict that Avnet, Inc. will post 4.09 earnings per share for the current year.

Avnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.46%. Avnet’s payout ratio is currently 34.55%.

About Avnet

Avnet, Inc, distributes electronic component technology. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated components from electronic component manufacturers.