Avista Co. (NYSE:AVA) Holdings Raised by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its stake in shares of Avista Co. (NYSE:AVA) by 0.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,551,460 shares of the utilities provider’s stock after purchasing an additional 13,445 shares during the period. Avista comprises about 0.8% of Public Sector Pension Investment Board’s holdings, making the stock its 23rd biggest holding. Public Sector Pension Investment Board’s holdings in Avista were worth $122,916,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Sei Investments Co. lifted its holdings in shares of Avista by 348.4% during the second quarter. Sei Investments Co. now owns 89,908 shares of the utilities provider’s stock valued at $3,112,000 after purchasing an additional 69,857 shares during the last quarter. Benjamin Edwards Inc. raised its position in Avista by 23.7% during the second quarter. Benjamin Edwards Inc. now owns 14,891 shares of the utilities provider’s stock valued at $515,000 after buying an additional 2,855 shares during the period. Intech Investment Management LLC acquired a new position in Avista during the second quarter valued at $462,000. XTX Topco Ltd acquired a new position in Avista during the second quarter valued at $276,000. Finally, Moors & Cabot Inc. raised its position in Avista by 4.0% during the second quarter. Moors & Cabot Inc. now owns 10,031 shares of the utilities provider’s stock valued at $347,000 after buying an additional 390 shares during the period. 85.24% of the stock is owned by hedge funds and other institutional investors.

Avista Stock Down 0.1 %

NYSE:AVA opened at $38.31 on Monday. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 3.37 and a beta of 0.47. Avista Co. has a 1-year low of $30.53 and a 1-year high of $39.99. The company has a current ratio of 0.88, a quick ratio of 0.60 and a debt-to-equity ratio of 1.05. The business’s fifty day moving average price is $38.36 and its 200 day moving average price is $36.36.

Avista (NYSE:AVA) last issued its earnings results on Wednesday, August 7th. The utilities provider reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.07. Avista had a return on equity of 7.77% and a net margin of 10.12%. The company had revenue of $390.80 million for the quarter, compared to analyst estimates of $386.69 million. During the same period in the prior year, the firm posted $0.23 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts forecast that Avista Co. will post 2.4 earnings per share for the current fiscal year.

Avista Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 22nd were given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 4.96%. The ex-dividend date was Thursday, August 22nd. Avista’s payout ratio is currently 78.84%.

Analyst Upgrades and Downgrades

Separately, Bank of America began coverage on Avista in a research report on Thursday, September 12th. They set an “underperform” rating and a $37.00 price target on the stock.

Insiders Place Their Bets

In other news, VP David J. Meyer sold 2,400 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $38.32, for a total transaction of $91,968.00. Following the transaction, the vice president now owns 5,436 shares of the company’s stock, valued at approximately $208,307.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.