44,780 Avista Corporation $AVA Shares Sold by RWC Asset Management LLP

Key Points

• RWC Asset Management cut its Avista stake by 20.7% in the third quarter, selling 44,780 shares and retaining 171,708 shares worth approximately $6.0 million. Institutional investors collectively own 85.24% of Avista.
• Avista shares recently traded at $37.72, while the company reported quarterly EPS of $0.43, exceeding the $0.23 analyst consensus. The utility also offers a $1.97 annualized dividend, yielding about 5.2%.
• Analyst sentiment remains cautious: Avista has an average “Hold” rating and a consensus price target of $38.75, with Barclays recently lowering its target from $37 to $35.

RWC Asset Management LLP reduced its position in Avista Corporation (NYSE:AVA - Free Report) by 20.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 171,708 shares of the utilities provider's stock after selling 44,780 shares during the period. RWC Asset Management LLP owned about 0.21% of Avista worth $6,025,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AVA. Global Retirement Partners LLC bought a new stake in shares of Avista in the 2nd quarter worth $42,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Avista in the second quarter worth $58,000. Compass Financial Management LLC bought a new position in shares of Avista during the second quarter valued at $86,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Avista by 22.1% during the first quarter. EverSource Wealth Advisors LLC now owns 2,782 shares of the utilities provider's stock valued at $112,000 after purchasing an additional 503 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Avista by 118.0% during the third quarter. Versant Capital Management Inc now owns 3,411 shares of the utilities provider's stock valued at $120,000 after purchasing an additional 1,846 shares in the last quarter. 85.24% of the stock is owned by institutional investors.

Avista Stock Performance

Shares of AVA stock traded down $0.02 on Friday, reaching $37.72. The stock had a trading volume of 475,166 shares, compared to its average volume of 671,874. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.69 and a current ratio of 1.10. Avista Corporation has a 1 year low of $34.46 and a 1 year high of $43.50. The stock has a market cap of $3.16 billion, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 3.52 and a beta of 0.23. The company has a 50 day simple moving average of $36.67 and a 200 day simple moving average of $39.48.

Avista (NYSE:AVA - Get Free Report) last posted its earnings results on Friday, July 31st. The utilities provider reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.20. The company had revenue of $413.00 million for the quarter, compared to the consensus estimate of $426.93 million. Avista had a return on equity of 7.85% and a net margin of 11.83%. Avista's revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 earnings per share. Equities research analysts expect that Avista Corporation will post 2.59 EPS for the current year.

Avista Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Tuesday, August 18th were paid a $0.4925 dividend. This represents a $1.97 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Tuesday, August 18th. Avista's dividend payout ratio is 71.12%.

Insider Buying and Selling at Avista

In related news, VP Joshua Diluciano sold 4,675 shares of the firm's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $37.24, for a total value of $174,097.00. Following the transaction, the vice president owned 8,334 shares of the company's stock, valued at approximately $310,358.16. This trade represents a 35.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.78% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Weiss Ratings downgraded Avista from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, October 9th. Barclays decreased their target price on Avista from $37.00 to $35.00 and set an "equal weight" rating for the company in a research report on Friday, October 9th. Seven research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, Avista currently has an average rating of "Hold" and a consensus price target of $38.75.

About Avista

Avista Corporation is an energy company headquartered in Spokane, Washington. Through its Avista Utilities subsidiary, the company provides regulated electric and natural gas services to residential, commercial, and industrial customers.

Avista's electric operations serve communities in eastern Washington and northern Idaho, while its natural gas service territory includes portions of Washington, Idaho, and Oregon. The company's utility activities include generating, purchasing, transmitting, distributing, and supplying energy, as well as maintaining the infrastructure needed to deliver those services.

The company traces its history to the founding of Washington Water Power in 1889.

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