Illinois Municipal Retirement Fund Acquires Shares of 42,971 Avista Co. (NYSE:AVA)

Illinois Municipal Retirement Fund acquired a new stake in Avista Co. (NYSE:AVAFree Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 42,971 shares of the utilities provider’s stock, valued at approximately $1,391,000. Illinois Municipal Retirement Fund owned 0.06% of Avista at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Lazard Asset Management LLC raised its stake in Avista by 178.0% in the first quarter. Lazard Asset Management LLC now owns 1,540 shares of the utilities provider’s stock worth $69,000 after buying an additional 986 shares in the last quarter. Belpointe Asset Management LLC raised its stake in Avista by 21.1% in the first quarter. Belpointe Asset Management LLC now owns 2,002 shares of the utilities provider’s stock worth $85,000 after buying an additional 349 shares in the last quarter. Benjamin Edwards Inc. raised its stake in Avista by 148.7% in the second quarter. Benjamin Edwards Inc. now owns 2,746 shares of the utilities provider’s stock worth $108,000 after buying an additional 1,642 shares in the last quarter. Covestor Ltd raised its stake in Avista by 83.0% in the first quarter. Covestor Ltd now owns 2,492 shares of the utilities provider’s stock worth $113,000 after buying an additional 1,130 shares in the last quarter. Finally, FMR LLC raised its stake in Avista by 15.5% in the second quarter. FMR LLC now owns 3,476 shares of the utilities provider’s stock worth $150,000 after buying an additional 466 shares in the last quarter. Hedge funds and other institutional investors own 78.53% of the company’s stock.

Insider Buying and Selling at Avista

In other news, Director Donald C. Burke sold 2,400 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $34.46, for a total transaction of $82,704.00. Following the sale, the director now owns 25,605 shares in the company, valued at $882,348.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.00% of the company’s stock.

Avista Price Performance

Shares of NYSE AVA opened at $34.14 on Wednesday. Avista Co. has a fifty-two week low of $30.53 and a fifty-two week high of $45.13. The company has a 50 day simple moving average of $35.06 and a two-hundred day simple moving average of $34.60. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 15.52, a P/E/G ratio of 2.38 and a beta of 0.48. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.69 and a current ratio of 0.94.

Avista (NYSE:AVAGet Free Report) last announced its earnings results on Wednesday, November 1st. The utilities provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.08. Avista had a net margin of 9.46% and a return on equity of 6.93%. The business had revenue of $369.70 million during the quarter, compared to the consensus estimate of $354.31 million. During the same quarter last year, the firm earned ($0.08) earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts expect that Avista Co. will post 2.3 EPS for the current fiscal year.

Avista Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, November 17th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date was Thursday, November 16th. Avista’s dividend payout ratio is 83.64%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. StockNews.com raised shares of Avista from a “sell” rating to a “hold” rating in a research note on Wednesday, January 17th. Guggenheim raised shares of Avista from a “sell” rating to a “neutral” rating and set a $34.00 price target for the company in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $33.50.

Check Out Our Latest Report on AVA

Avista Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Avista (NYSE:AVA)

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