Brandywine Global Investment Management LLC Sells 6,190 Shares of Avista Co. (NYSE:AVA)

Brandywine Global Investment Management LLC reduced its position in Avista Co. (NYSE:AVA - Free Report) by 2.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 268,758 shares of the utilities provider's stock after selling 6,190 shares during the period. Brandywine Global Investment Management LLC owned about 0.34% of Avista worth $9,845,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in Avista by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,228,299 shares of the utilities provider's stock valued at $47,597,000 after acquiring an additional 26,706 shares in the last quarter. D.A. Davidson & CO. increased its stake in shares of Avista by 12.2% during the 3rd quarter. D.A. Davidson & CO. now owns 9,557 shares of the utilities provider's stock worth $370,000 after purchasing an additional 1,041 shares during the last quarter. FMR LLC raised its holdings in shares of Avista by 4.2% during the 3rd quarter. FMR LLC now owns 17,430 shares of the utilities provider's stock valued at $675,000 after purchasing an additional 707 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Avista by 18.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 49,575 shares of the utilities provider's stock valued at $1,921,000 after purchasing an additional 7,581 shares during the last quarter. Finally, Glenmede Trust Co. NA bought a new stake in Avista in the third quarter worth $697,000. 85.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Avista news, VP Scott J. Kinney sold 2,298 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $38.75, for a total value of $89,047.50. Following the completion of the sale, the vice president now owns 12,539 shares in the company, valued at approximately $485,886.25. This trade represents a 15.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.96% of the stock is owned by company insiders.

Avista Stock Performance

Shares of NYSE:AVA traded down $1.70 during trading on Friday, reaching $40.68. The stock had a trading volume of 1,150,621 shares, compared to its average volume of 557,138. The stock has a fifty day simple moving average of $38.77 and a two-hundred day simple moving average of $37.89. The company has a quick ratio of 0.48, a current ratio of 0.75 and a debt-to-equity ratio of 1.05. Avista Co. has a 52 week low of $33.00 and a 52 week high of $43.09. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 16.21, a P/E/G ratio of 2.56 and a beta of 0.38.

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

Avista Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 26th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend was Wednesday, February 26th. This is a boost from Avista's previous quarterly dividend of $0.48. Avista's dividend payout ratio (DPR) is presently 86.34%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group cut their target price on Avista from $40.00 to $39.00 and set a "hold" rating on the stock in a report on Tuesday, January 28th.

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.