Gamco Investors INC. ET AL Purchases 95,060 Shares of Avista Corporation $AVA

Key Points

• Gamco Investors increased its Avista stake by 23.1% in the fourth quarter, buying 95,060 shares and bringing its total holding to 507,304 shares worth about $19.6 million.
• Avista reported better-than-expected quarterly earnings of $1.10 per share, though revenue of $570 million came in below estimates and declined 8% year over year.
• The utility declared a quarterly dividend of $0.4925 per share, implying an annual yield of 4.8%, while analysts currently rate the stock a consensus Hold with an average price target of $40.00.

Gamco Investors INC. ET AL grew its position in Avista Corporation (NYSE:AVA - Free Report) by 23.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 507,304 shares of the utilities provider's stock after purchasing an additional 95,060 shares during the period. Gamco Investors INC. ET AL owned approximately 0.62% of Avista worth $19,551,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AVA. First Trust Advisors LP raised its holdings in Avista by 359.4% during the third quarter. First Trust Advisors LP now owns 1,282,508 shares of the utilities provider's stock worth $48,492,000 after acquiring an additional 1,003,362 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Avista by 37,219.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 541,136 shares of the utilities provider's stock worth $20,855,000 after acquiring an additional 539,686 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in Avista by 1,723.9% during the third quarter. Qube Research & Technologies Ltd now owns 442,427 shares of the utilities provider's stock worth $16,728,000 after acquiring an additional 418,170 shares in the last quarter. State Street Corp raised its holdings in Avista by 8.3% during the second quarter. State Street Corp now owns 5,191,896 shares of the utilities provider's stock worth $197,032,000 after acquiring an additional 398,446 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Avista by 216.5% during the third quarter. Sei Investments Co. now owns 477,238 shares of the utilities provider's stock worth $18,044,000 after acquiring an additional 326,469 shares in the last quarter. Institutional investors own 85.24% of the company's stock.

Insiders Place Their Bets

In related news, SVP Wayne O. Manuel sold 1,593 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $40.98, for a total value of $65,281.14. Following the sale, the senior vice president owned 10,521 shares in the company, valued at approximately $431,150.58. This represents a 13.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bryan Alden Cox sold 1,768 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $40.18, for a total value of $71,038.24. Following the completion of the sale, the senior vice president owned 8,401 shares in the company, valued at approximately $337,552.18. This trade represents a 17.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 3,916 shares of company stock worth $158,408. 0.78% of the stock is owned by company insiders.

Avista Price Performance

Shares of NYSE AVA opened at $41.21 on Tuesday. The business's 50 day moving average price is $40.53 and its two-hundred day moving average price is $40.28. The company has a market cap of $3.41 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 3.78 and a beta of 0.24. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 1.01. Avista Corporation has a twelve month low of $35.50 and a twelve month high of $43.50.

Avista (NYSE:AVA - Get Free Report) last posted its earnings results on Tuesday, May 5th. The utilities provider reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.06. Avista had a return on equity of 7.65% and a net margin of 10.75%.The business had revenue of $570.00 million for the quarter, compared to analyst estimates of $643.55 million. During the same period in the previous year, the firm earned $0.98 EPS. The firm's revenue was down 8.0% compared to the same quarter last year. Avista has set its FY 2026 guidance at 2.520-2.720 EPS. On average, analysts predict that Avista Corporation will post 2.59 EPS for the current year.

Avista Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Tuesday, May 19th will be paid a $0.4925 dividend. This represents a $1.97 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Tuesday, May 19th. Avista's dividend payout ratio is 78.49%.

Analysts Set New Price Targets

AVA has been the subject of several recent analyst reports. Barclays cut their price objective on Avista from $41.00 to $40.00 and set an "equal weight" rating for the company in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of Avista from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, April 1st. Zacks Research cut shares of Avista from a "hold" rating to a "strong sell" rating in a research note on Tuesday, March 31st. Mizuho increased their price target on shares of Avista from $41.00 to $42.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Finally, KeyCorp reiterated a "sector weight" rating on shares of Avista in a research note on Tuesday, January 27th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $40.00.

Avista Company Profile

Avista Corporation operates as an integrated energy company providing electric and natural gas delivery services to residential, commercial and industrial customers in the Pacific Northwest. Through its regulated utility operations, the company maintains and upgrades an extensive transmission and distribution network, delivering reliable energy to approximately 400,000 electric customers and 324,000 natural gas customers across Washington, Oregon and Idaho. In addition to its core utility business, Avista invests in owned generation assets, including hydroelectric, natural gas–fired, coal and wind facilities, to support system reliability and long-term supply planning.

Founded in 1889 as the Spokane and Inland Empire Water Power Company, the business adopted the Avista name in 1999 to reflect its growing energy portfolio and strategic focus on innovation.

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