Campbell & CO Investment Adviser LLC Boosts Stake in Avista Corporation $AVA

Key Points

• Campbell & CO Investment Adviser LLC increased its stake in Avista Corporation by 1,027.8%, owning approximately 153,737 shares valued at around $6.4 million.
• Avista reported $0.17 earnings per share for the last quarter, falling short of the expected $0.28, while total revenue was $400 million, below analyst forecasts.
• The company declared a quarterly dividend of $0.49 per share, translating to an annual yield of 5.3%, with a payout ratio of 88.29%.

Campbell & CO Investment Adviser LLC boosted its stake in shares of Avista Corporation (NYSE:AVA - Free Report) by 1,027.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 153,737 shares of the utilities provider's stock after purchasing an additional 140,105 shares during the period. Avista comprises about 0.5% of Campbell & CO Investment Adviser LLC's investment portfolio, making the stock its 15th biggest position. Campbell & CO Investment Adviser LLC owned approximately 0.19% of Avista worth $6,437,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in Avista by 252.3% during the first quarter. GAMMA Investing LLC now owns 916 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 656 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Avista during the first quarter valued at $43,000. Costello Asset Management INC purchased a new position in Avista during the first quarter valued at $102,000. Entropy Technologies LP purchased a new position in Avista during the first quarter valued at $214,000. Finally, Cerity Partners LLC purchased a new position in Avista during the first quarter valued at $222,000. 85.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Avista

In other news, VP Scott J. Kinney sold 1,024 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $37.82, for a total value of $38,727.68. Following the transaction, the vice president directly owned 11,515 shares in the company, valued at $435,497.30. The trade was a 8.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is owned by insiders.

Avista Stock Performance

NYSE AVA traded up $0.25 on Wednesday, hitting $37.04. 561,095 shares of the company traded hands, compared to its average volume of 762,629. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 2.43 and a beta of 0.40. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 1.06. The business's 50 day moving average price is $37.56 and its 200-day moving average price is $38.78. Avista Corporation has a 52-week low of $34.80 and a 52-week high of $43.09.

Avista (NYSE:AVA - Get Free Report) last released its earnings results on Wednesday, August 6th. The utilities provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.11). The company had revenue of $400.00 million for the quarter, compared to analysts' expectations of $416.06 million. Avista had a net margin of 9.13% and a return on equity of 6.86%. During the same quarter last year, the firm posted $0.29 earnings per share. Equities analysts expect that Avista Corporation will post 2.3 earnings per share for the current year.

Avista Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, August 19th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Tuesday, August 19th. Avista's payout ratio is presently 88.29%.

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.