Hotchkis & Wiley Capital Management LLC Has $69.25 Million Holdings in Avista Co. (NYSE:AVA)

Hotchkis & Wiley Capital Management LLC lessened its stake in Avista Co. (NYSE:AVAFree Report) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,937,599 shares of the utilities provider’s stock after selling 55,010 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 2.50% of Avista worth $69,250,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Dean Capital Management boosted its holdings in Avista by 22.9% during the fourth quarter. Dean Capital Management now owns 49,981 shares of the utilities provider’s stock worth $1,786,000 after purchasing an additional 9,298 shares during the last quarter. Invenomic Capital Management LP acquired a new stake in Avista in the fourth quarter valued at $4,960,000. Seven Eight Capital LP acquired a new stake in Avista in the fourth quarter valued at $409,000. Gabelli Funds LLC lifted its stake in Avista by 2.0% in the fourth quarter. Gabelli Funds LLC now owns 418,000 shares of the utilities provider’s stock valued at $14,939,000 after acquiring an additional 8,000 shares during the last quarter. Finally, Capstone Investment Advisors LLC acquired a new stake in Avista in the fourth quarter valued at $519,000. Institutional investors and hedge funds own 85.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AVA. StockNews.com raised shares of Avista from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Mizuho raised shares of Avista from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $32.00 to $36.00 in a research report on Friday, May 3rd. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.00.

View Our Latest Stock Analysis on AVA

Insider Activity at Avista

In other Avista news, SVP Bryan Alden Cox sold 1,716 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $35.70, for a total value of $61,261.20. Following the completion of the transaction, the senior vice president now owns 7,196 shares in the company, valued at approximately $256,897.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Jason R. Thackston sold 2,500 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $36.98, for a total transaction of $92,450.00. Following the completion of the sale, the chief executive officer now directly owns 32,506 shares of the company’s stock, valued at $1,202,071.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bryan Alden Cox sold 1,716 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $35.70, for a total transaction of $61,261.20. Following the sale, the senior vice president now directly owns 7,196 shares of the company’s stock, valued at $256,897.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,916 shares of company stock worth $215,268. 0.96% of the stock is owned by company insiders.

Avista Price Performance

Shares of AVA traded down $0.05 during mid-day trading on Tuesday, reaching $34.98. The company had a trading volume of 46,305 shares, compared to its average volume of 533,577. The company’s 50 day simple moving average is $36.16 and its 200 day simple moving average is $35.04. Avista Co. has a 1-year low of $30.53 and a 1-year high of $41.79. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.69 and a current ratio of 0.97. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 14.54 and a beta of 0.49.

Avista (NYSE:AVAGet Free Report) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $0.91 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.09). The business had revenue of $594.90 million for the quarter, compared to analyst estimates of $469.34 million. Avista had a return on equity of 7.65% and a net margin of 9.96%. The firm’s quarterly revenue was up 29.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.73 earnings per share. Analysts expect that Avista Co. will post 2.46 EPS for the current year.

Avista Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 23rd will be paid a $0.475 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $1.90 dividend on an annualized basis and a dividend yield of 5.43%. Avista’s payout ratio is presently 78.84%.

About Avista

(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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