Russell Investments Group Ltd. Boosts Stock Position in Avista Corporation $AVA

Key Points

• Russell Investments Group Ltd. increased its stake in Avista Corporation by 48.5%, acquiring an additional 11,489 shares during the first quarter, bringing its total holdings to 35,188 shares valued at approximately $1.47 million.
• Avista Corporation recently announced a quarterly dividend of $0.49 to be paid on September 15th, representing a 5.3% yield based on an annualized payout of $1.96.
• For the last quarter, Avista missed earnings expectations with an EPS of $0.17, falling short of the consensus estimate of $0.28, which reflects ongoing challenges for the company.

Russell Investments Group Ltd. boosted its holdings in shares of Avista Corporation (NYSE:AVA - Free Report) by 48.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,188 shares of the utilities provider's stock after buying an additional 11,489 shares during the period. Russell Investments Group Ltd.'s holdings in Avista were worth $1,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in AVA. Renaissance Technologies LLC acquired a new position in Avista during the 4th quarter valued at about $1,209,000. Raymond James Financial Inc. acquired a new position in Avista during the 4th quarter valued at about $1,007,000. MetLife Investment Management LLC increased its position in Avista by 5.8% during the 4th quarter. MetLife Investment Management LLC now owns 47,735 shares of the utilities provider's stock valued at $1,749,000 after buying an additional 2,619 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Avista by 273.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,950 shares of the utilities provider's stock valued at $401,000 after buying an additional 8,019 shares in the last quarter. Finally, Stifel Financial Corp increased its position in Avista by 16.9% during the 4th quarter. Stifel Financial Corp now owns 90,527 shares of the utilities provider's stock valued at $3,316,000 after buying an additional 13,109 shares in the last quarter. 85.24% of the stock is owned by institutional investors and hedge funds.

Avista Stock Down 0.1%

NYSE:AVA traded down $0.04 during mid-day trading on Monday, hitting $36.51. 455,746 shares of the company's stock traded hands, compared to its average volume of 750,943. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.68 and a current ratio of 1.00. The company has a fifty day moving average of $37.52 and a 200 day moving average of $38.79. The company has a market capitalization of $2.96 billion, a P/E ratio of 16.45, a P/E/G ratio of 2.41 and a beta of 0.41. Avista Corporation has a twelve month low of $34.80 and a twelve month high of $43.09.

Avista (NYSE:AVA - Get Free Report) last posted its quarterly 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 firm 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 in the previous year, the firm posted $0.29 EPS. On average, analysts forecast that Avista Corporation will post 2.3 EPS for the current year.

Avista Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, August 19th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 5.4%. The ex-dividend date is Tuesday, August 19th. Avista's payout ratio is presently 88.29%.

Insiders Place Their Bets

In other Avista 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 transaction of $38,727.68. Following the sale, the vice president owned 11,515 shares in the company, valued at approximately $435,497.30. The trade was a 8.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.94% of the company's stock.

Avista 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.