Avista Corporation (NYSE:AVA) Shares Sold by RWC Asset Management LLP

Key Points

• RWC Asset Management LLP reduced its stake in Avista Corporation by 32.5%, owning 363,312 shares valued at approximately $15.2 million after selling 175,205 shares in the first quarter.
• Avista's most recent earnings report indicated earnings per share of $0.98, which fell short of analysts' expectations of $1.05, alongside revenues of $603 million.
• The company announced a quarterly dividend of $0.49 per share, resulting in an annualized yield of 5.28%, while maintaining a dividend payout ratio of 83.76%.

RWC Asset Management LLP decreased its position in shares of Avista Corporation (NYSE:AVA - Free Report) by 32.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 363,312 shares of the utilities provider's stock after selling 175,205 shares during the period. RWC Asset Management LLP owned approximately 0.45% of Avista worth $15,212,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC grew its holdings in shares of Avista by 2,474.1% in the fourth quarter. Headlands Technologies LLC now owns 695 shares of the utilities provider's stock worth $25,000 after purchasing an additional 668 shares during the last quarter. GAMMA Investing LLC grew its holdings in Avista by 252.3% during the 1st quarter. GAMMA Investing LLC now owns 916 shares of the utilities provider's stock worth $38,000 after acquiring an additional 656 shares in the last quarter. Xponance Inc. bought a new position in shares of Avista during the fourth quarter valued at approximately $206,000. Advisory Services Network LLC bought a new stake in Avista during the 4th quarter valued at $215,000. Finally, Cerity Partners LLC bought a new stake in Avista during the first quarter valued at about $222,000. 85.24% of the stock is currently owned by institutional investors.

Avista Stock Up 0.4%

AVA traded up $0.14 on Wednesday, hitting $37.26. The company had a trading volume of 777,084 shares, compared to its average volume of 732,937. The stock has a fifty day moving average price of $37.81 and a 200-day moving average price of $38.68. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.64 and a current ratio of 0.93. Avista Corporation has a 12-month low of $34.80 and a 12-month high of $43.09. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 15.92, a P/E/G ratio of 2.44 and a beta of 0.40.

Avista (NYSE:AVA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $0.98 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.07). Avista had a net margin of 9.63% and a return on equity of 7.28%. The business had revenue of $603.00 million during the quarter, compared to analysts' expectations of $636.30 million. During the same period in the previous year, the company posted $0.91 earnings per share. Avista's revenue for the quarter was up 1.3% compared to the same quarter last year. Analysts predict that Avista Corporation will post 2.3 EPS for the current fiscal year.

Avista Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Tuesday, May 13th were given a dividend of $0.49 per share. The ex-dividend date was Tuesday, May 13th. This represents a $1.96 dividend on an annualized basis and a yield of 5.26%. Avista's payout ratio is 83.76%.

Insider Buying and Selling

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 shares were sold at an average price of $37.82, for a total transaction of $38,727.68. Following the sale, the vice president directly owned 11,515 shares in the company, valued at $435,497.30. This represents a 8.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.94% of the stock is owned by corporate insiders.

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.