Janus Henderson Group PLC Decreases Stock Position in Avnet, Inc. (NASDAQ:AVT)

Janus Henderson Group PLC reduced its position in Avnet, Inc. (NASDAQ:AVT) by 16.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,963 shares of the company’s stock after selling 7,100 shares during the quarter. Janus Henderson Group PLC’s holdings in Avnet were worth $2,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of AVT. Lind Value II ApS purchased a new stake in Avnet in the second quarter worth $62,394,000. AQR Capital Management LLC grew its position in shares of Avnet by 34.7% in the second quarter. AQR Capital Management LLC now owns 1,844,452 shares of the company’s stock valued at $94,713,000 after purchasing an additional 475,165 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in shares of Avnet by 204.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 690,270 shares of the company’s stock valued at $37,489,000 after purchasing an additional 463,660 shares in the last quarter. Raymond James & Associates grew its position in shares of Avnet by 39.5% in the second quarter. Raymond James & Associates now owns 563,127 shares of the company’s stock valued at $28,995,000 after purchasing an additional 159,565 shares in the last quarter. Finally, Great Lakes Advisors LLC grew its position in shares of Avnet by 2,607.9% in the second quarter. Great Lakes Advisors LLC now owns 163,449 shares of the company’s stock valued at $8,416,000 after purchasing an additional 157,413 shares in the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.

Avnet Price Performance

Shares of NASDAQ AVT opened at $54.39 on Friday. The stock has a market cap of $4.73 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 1.01 and a beta of 1.14. 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 stock has a fifty day moving average of $54.56 and a 200-day moving average of $53.42.

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

Avnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Wednesday, December 4th. Avnet’s dividend payout ratio (DPR) is currently 34.55%.

Avnet Company Profile

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.