Truist Financial Corp Sells 9,439 Shares of Avista Co. (NYSE:AVA)

Truist Financial Corp trimmed its position in Avista Co. (NYSE:AVAGet Rating) by 42.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,647 shares of the utilities provider’s stock after selling 9,439 shares during the period. Truist Financial Corp’s holdings in Avista were worth $468,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in Avista by 80.0% during the first quarter. PNC Financial Services Group Inc. now owns 13,191 shares of the utilities provider’s stock valued at $596,000 after buying an additional 5,864 shares during the period. Natixis Advisors L.P. raised its holdings in Avista by 14.2% in the 1st quarter. Natixis Advisors L.P. now owns 21,371 shares of the utilities provider’s stock worth $965,000 after purchasing an additional 2,657 shares during the period. Bank of Montreal Can lifted its position in Avista by 27.6% during the first quarter. Bank of Montreal Can now owns 37,592 shares of the utilities provider’s stock valued at $1,714,000 after purchasing an additional 8,137 shares in the last quarter. D.A. Davidson & CO. grew its holdings in Avista by 3.8% during the first quarter. D.A. Davidson & CO. now owns 6,983 shares of the utilities provider’s stock valued at $315,000 after purchasing an additional 254 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Avista in the first quarter worth about $754,000. 82.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Mizuho lifted their price objective on Avista from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Tuesday, December 13th. KeyCorp cut 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 note on Tuesday, November 1st. Guggenheim lowered their target price on shares of Avista from $34.00 to $33.00 in a research note on Monday, October 24th. Finally, StockNews.com upgraded Avista from a “sell” rating to a “hold” rating in a research note on Monday.

Avista Trading Down 0.5 %

AVA stock opened at $41.20 on Tuesday. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 3.45 and a beta of 0.53. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.68 and a quick ratio of 0.50. Avista Co. has a 1-year low of $35.72 and a 1-year high of $46.90. The business has a 50 day simple moving average of $42.12 and a two-hundred day simple moving average of $41.11.

Avista (NYSE:AVAGet Rating) last posted its earnings results on Tuesday, November 1st. The utilities provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.24). The company had revenue of $359.45 million for the quarter, compared to analysts’ expectations of $310.23 million. Avista had a net margin of 7.91% and a return on equity of 5.78%. During the same period in the previous year, the business posted $0.20 earnings per share. Research analysts anticipate that Avista Co. will post 1.9 EPS for the current fiscal year.

Avista Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Friday, November 18th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date was Thursday, November 17th. Avista’s payout ratio is presently 98.88%.

Avista Profile

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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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