Intech Investment Management LLC Grows Stock Position in Avista Co. (NYSE:AVA)

Intech Investment Management LLC lifted its stake in Avista Co. (NYSE:AVA) by 364.9% in the fourth quarter, HoldingsChannel reports. The firm owned 105,822 shares of the utilities provider’s stock after acquiring an additional 83,062 shares during the quarter. Intech Investment Management LLC’s holdings in Avista were worth $3,876,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Algert Global LLC boosted its holdings in Avista by 202.2% in the third quarter. Algert Global LLC now owns 57,617 shares of the utilities provider’s stock valued at $2,233,000 after purchasing an additional 38,550 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Avista by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,253,280 shares of the utilities provider’s stock valued at $45,908,000 after purchasing an additional 24,981 shares during the period. Proficio Capital Partners LLC purchased a new stake in Avista during the 4th quarter worth about $561,000. A. D. Beadell Investment Counsel Inc. purchased a new stake in Avista during the 4th quarter worth about $1,340,000. Finally, Geode Capital Management LLC lifted its holdings in Avista by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,828,230 shares of the utilities provider’s stock worth $70,857,000 after buying an additional 27,328 shares during the last quarter. 85.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Jefferies Financial Group decreased their price target on Avista from $40.00 to $39.00 and set a “hold” rating for the company in a report on Tuesday, January 28th.

Insider Transactions at Avista

In other news, VP Scott J. Kinney sold 2,298 shares of Avista stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $38.75, for a total transaction of $89,047.50. Following the sale, the vice president now owns 12,539 shares in the company, valued at approximately $485,886.25. The trade was a 15.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.96% of the company’s stock.

Avista Stock Down 0.4 %

Shares of NYSE AVA opened at $39.57 on Thursday. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 2.56 and a beta of 0.46. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.75 and a quick ratio of 0.48. The business has a 50-day moving average of $37.70 and a two-hundred day moving average of $37.70. Avista Co. has a 1 year low of $33.00 and a 1 year high of $40.23.

Avista (NYSE:AVA) last posted its earnings results on Wednesday, February 26th. The utilities provider reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). Avista had a return on equity of 7.83% and a net margin of 10.24%. The firm had revenue of $517.00 million for the quarter, compared to analyst estimates of $487.48 million. On average, analysts forecast that Avista Co. will post 2.3 earnings per share for the current fiscal year.

Avista Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 26th were given a dividend of $0.49 per share. The ex-dividend date was Wednesday, February 26th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.95%. This is a boost from Avista’s previous quarterly dividend of $0.48. Avista’s payout ratio is 86.34%.

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.