Neo Ivy Capital Management Has $700,000 Stock Holdings in Avista Corporation $AVA
by Scott Moore · The Cerbat GemNeo Ivy Capital Management trimmed its stake in shares of Avista Corporation (NYSE:AVA – Free Report) by 63.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,448 shares of the utilities provider’s stock after selling 32,064 shares during the period. Neo Ivy Capital Management’s holdings in Avista were worth $700,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in Avista by 2.0% during the second quarter. PNC Financial Services Group Inc. now owns 14,042 shares of the utilities provider’s stock valued at $533,000 after buying an additional 269 shares in the last quarter. Convergence Investment Partners LLC raised its holdings in shares of Avista by 0.6% during the second quarter. Convergence Investment Partners LLC now owns 49,613 shares of the utilities provider’s stock valued at $1,883,000 after acquiring an additional 286 shares during the period. Moors & Cabot Inc. lifted its position in shares of Avista by 3.2% in the 1st quarter. Moors & Cabot Inc. now owns 10,131 shares of the utilities provider’s stock valued at $424,000 after acquiring an additional 313 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Avista by 54.8% in the 2nd quarter. Bessemer Group Inc. now owns 884 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 313 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in Avista by 1.5% in the 2nd quarter. Amalgamated Bank now owns 22,897 shares of the utilities provider’s stock worth $869,000 after purchasing an additional 347 shares during the period. Hedge funds and other institutional investors own 85.24% of the company’s stock.
Avista Stock Performance
Shares of NYSE AVA opened at $41.19 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.00 and a quick ratio of 0.68. Avista Corporation has a one year low of $34.80 and a one year high of $43.09. The business’s 50-day moving average price is $38.47 and its two-hundred day moving average price is $37.97. The company has a market capitalization of $3.35 billion, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 2.14 and a beta of 0.39.
Avista (NYSE:AVA – Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.09. Avista had a return on equity of 6.86% and a net margin of 9.13%.The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 earnings per share. Avista has set its FY 2025 guidance at 2.520-2.720 EPS. Analysts anticipate that Avista Corporation will post 2.3 earnings per share for the current fiscal year.
Avista Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, November 24th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Monday, November 24th. Avista’s payout ratio is currently 83.40%.
Analyst Upgrades and Downgrades
AVA has been the topic of several recent analyst reports. Mizuho set a $42.00 target price on shares of Avista in a research note on Thursday, November 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Avista in a research report on Wednesday. Jefferies Financial Group raised their price objective on Avista from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Finally, Wells Fargo & Company raised Avista to a “hold” rating in a research note on Tuesday, October 28th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Avista presently has a consensus rating of “Hold” and a consensus target price of $40.33.
Get Our Latest Report on Avista
Insider Buying and Selling at Avista
In other Avista news, VP David J. Meyer sold 1,367 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $36.72, for a total transaction of $50,196.24. Following the transaction, the vice president directly owned 8,394 shares of the company’s stock, valued at $308,227.68. This represents a 14.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Bryan Alden Cox bought 3,671 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were bought at an average price of $35.55 per share, for a total transaction of $130,504.05. Following the completion of the acquisition, the senior vice president owned 9,989 shares of the company’s stock, valued at approximately $355,108.95. This represents a 58.10% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.96% of the company’s stock.
About Avista
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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