Baird Financial Group Inc. Sells 4,171 Shares of Avista Co. (NYSE:AVA)

Baird Financial Group Inc. reduced its position in Avista Co. (NYSE:AVAGet Rating) by 32.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,826 shares of the utilities provider’s stock after selling 4,171 shares during the period. Baird Financial Group Inc.’s holdings in Avista were worth $384,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. D.A. Davidson & CO. lifted its stake in shares of Avista by 3.8% in the first quarter. D.A. Davidson & CO. now owns 6,983 shares of the utilities provider’s stock valued at $315,000 after buying an additional 254 shares in the last quarter. Arizona State Retirement System increased its holdings in Avista by 1.4% during the 2nd quarter. Arizona State Retirement System now owns 19,396 shares of the utilities provider’s stock worth $844,000 after purchasing an additional 266 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Avista by 4.4% in the first quarter. Crossmark Global Holdings Inc. now owns 6,860 shares of the utilities provider’s stock worth $310,000 after purchasing an additional 290 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Avista by 1.5% in the first quarter. US Bancorp DE now owns 21,376 shares of the utilities provider’s stock valued at $966,000 after purchasing an additional 311 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in shares of Avista by 22.2% during the second quarter. Meeder Asset Management Inc. now owns 2,281 shares of the utilities provider’s stock valued at $99,000 after buying an additional 415 shares during the last quarter. Institutional investors and hedge funds own 83.39% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AVA. StockNews.com upgraded Avista from a “sell” rating to a “hold” rating in a research note on Saturday, November 5th. KeyCorp downgraded shares of Avista from a “sector weight” rating to an “underweight” rating and set a $33.00 price objective for the company. in a research report on Tuesday, November 1st. Guggenheim dropped their target price on shares of Avista from $34.00 to $33.00 in a research report on Monday, October 24th. Finally, Mizuho lowered Avista from a “buy” rating to a “neutral” rating and reduced their target price for the company from $44.00 to $40.00 in a report on Wednesday, November 2nd.

Avista Price Performance

AVA opened at $39.34 on Tuesday. The firm has a market cap of $2.90 billion, a P/E ratio of 22.10, a PEG ratio of 3.95 and a beta of 0.58. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.50 and a current ratio of 0.68. Avista Co. has a fifty-two week low of $35.72 and a fifty-two week high of $46.90. The firm has a 50-day moving average of $38.76 and a 200 day moving average of $41.13.

Avista (NYSE:AVAGet Rating) last issued its quarterly earnings results on Tuesday, November 1st. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.32). Avista had a return on equity of 5.78% and a net margin of 7.91%. During the same quarter in the previous year, the business posted $0.20 EPS. On average, research analysts expect that Avista Co. will post 1.9 EPS for the current year.

Avista Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 18th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.47%. The ex-dividend date is Thursday, November 17th. Avista’s dividend payout ratio (DPR) is presently 98.88%.

About Avista

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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.

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Institutional Ownership by Quarter for Avista (NYSE:AVA)

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