Victory Capital Management Inc. Has $25.77 Million Holdings in Avista Corporation $AVA

Key Points

• Victory Capital Management increased its stake in Avista by 15.5% in Q3 to 681,448 shares — about 0.84% of the company — valued at approximately $25.77 million.
• Wall Street currently has a consensus rating of Hold on AVA with a $39.50 average price target, amid recent analyst moves including Wells Fargo and Jefferies trimming targets and Weiss upgrading to Buy.
• Avista raised its quarterly dividend to $0.4925 (annualized $1.97), implying a ~5.0% yield; the dividend is payable March 13 with an ex-dividend date of Feb 25 and a payout ratio of about 82.8%.

Victory Capital Management Inc. boosted its holdings in shares of Avista Corporation (NYSE:AVA - Free Report) by 15.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 681,448 shares of the utilities provider's stock after acquiring an additional 91,379 shares during the period. Victory Capital Management Inc. owned approximately 0.84% of Avista worth $25,766,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of AVA. Salomon & Ludwin LLC bought a new position in shares of Avista during the 3rd quarter valued at about $26,000. Headlands Technologies LLC bought a new stake in Avista during the 2nd quarter worth approximately $37,000. Allworth Financial LP raised its holdings in Avista by 51.7% during the 2nd quarter. Allworth Financial LP now owns 1,585 shares of the utilities provider's stock worth $60,000 after buying an additional 540 shares during the period. GAMMA Investing LLC raised its holdings in Avista by 30.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,769 shares of the utilities provider's stock worth $67,000 after buying an additional 409 shares during the period. Finally, Lazard Asset Management LLC lifted its stake in Avista by 60.0% in the second quarter. Lazard Asset Management LLC now owns 1,949 shares of the utilities provider's stock valued at $73,000 after buying an additional 731 shares in the last quarter. 85.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AVA has been the subject of several research analyst reports. Wells Fargo & Company reduced their price target on shares of Avista from $38.00 to $37.00 and set an "equal weight" rating for the company in a report on Tuesday, January 20th. Weiss Ratings upgraded shares of Avista from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, February 24th. Barclays initiated coverage on shares of Avista in a research note on Monday. They issued an "equal weight" rating and a $40.00 target price for the company. KeyCorp reiterated a "sector weight" rating on shares of Avista in a report on Tuesday, January 27th. Finally, Jefferies Financial Group dropped their price target on Avista from $41.00 to $39.00 and set a "hold" rating on the stock in a research note on Wednesday, January 28th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Avista currently has a consensus rating of "Hold" and a consensus price target of $39.50.

Insider Activity

In related news, SVP Bryan Alden Cox sold 1,768 shares of Avista stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $40.18, for a total value of $71,038.24. Following the sale, the senior vice president owned 8,401 shares of the company's stock, valued at approximately $337,552.18. The trade was a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Wayne O. Manuel sold 1,785 shares of the company's stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $38.74, for a total value of $69,150.90. Following the sale, the senior vice president owned 9,883 shares in the company, valued at $382,867.42. The trade was a 15.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.94% of the company's stock.

Avista Price Performance

Shares of AVA opened at $39.67 on Tuesday. The stock has a market capitalization of $3.26 billion, a P/E ratio of 16.67, a P/E/G ratio of 2.14 and a beta of 0.28. Avista Corporation has a twelve month low of $35.50 and a twelve month high of $43.50. The company has a 50 day moving average of $40.59 and a 200-day moving average of $39.13. The company has a quick ratio of 0.56, a current ratio of 0.83 and a debt-to-equity ratio of 1.04.

Avista (NYSE:AVA - Get Free Report) last announced its quarterly earnings data on Saturday, January 31st. The utilities provider reported $0.88 EPS for the quarter. Avista had a net margin of 9.83% and a return on equity of 7.29%. As a group, equities research analysts forecast that Avista Corporation will post 2.3 EPS for the current fiscal year.

Avista Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Wednesday, February 25th will be given a dividend of $0.4925 per share. This is a boost from Avista's previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $1.97 annualized dividend and a yield of 5.0%. Avista's payout ratio is presently 82.77%.

About Avista

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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