Wells Fargo & Company MN trimmed its position in shares of Avista Corp (NYSE:AVA) by 10.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,049 shares of the utilities provider’s stock after selling 14,340 shares during the period. Wells Fargo & Company MN owned approximately 0.19% of Avista worth $6,421,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Riverhead Capital Management LLC lifted its stake in Avista by 38.8% during the second quarter. Riverhead Capital Management LLC now owns 2,498 shares of the utilities provider’s stock worth $106,000 after purchasing an additional 698 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Avista by 28.8% during the second quarter. PNC Financial Services Group Inc. now owns 2,678 shares of the utilities provider’s stock worth $114,000 after purchasing an additional 599 shares in the last quarter. Advisor Group Inc. lifted its stake in Avista by 16.3% during the second quarter. Advisor Group Inc. now owns 2,883 shares of the utilities provider’s stock worth $123,000 after purchasing an additional 403 shares in the last quarter. CWH Capital Management Inc. acquired a new position in Avista during the second quarter worth $132,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Avista by 8.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,145 shares of the utilities provider’s stock worth $134,000 after purchasing an additional 244 shares in the last quarter. Institutional investors own 77.33% of the company’s stock.
AVA has been the topic of a number of recent research reports. ValuEngine lowered Avista from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Zacks Investment Research lowered Avista from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Avista in a research report on Friday, October 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $47.75.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a dividend of $0.3575 per share. This represents a $1.43 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date was Thursday, November 30th. Avista’s dividend payout ratio is currently 71.86%.
In other news, VP James M. Kensok sold 4,700 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $52.01, for a total transaction of $244,447.00. Following the sale, the vice president now owns 12,787 shares of the company’s stock, valued at $665,051.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jason R. Thackston sold 1,500 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $51.58, for a total value of $77,370.00. Following the sale, the insider now directly owns 22,974 shares in the company, valued at approximately $1,184,998.92. The disclosure for this sale can be found here. Insiders have sold 7,632 shares of company stock worth $396,130 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.
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Avista Company Profile
Avista Corporation is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). The Company’s regional services include government and higher education, medical services, retail trade and finance. The Company’s businesses also include sheet metal fabrication, venture fund investments, real estate investments, a company that explores markets that could be served with liquefied natural gas (LNG), as well as certain other investments of Avista Capital, which is a subsidiary of the Company.
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