Avista Corporation $AVA Holdings Boosted by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in Avista Corporation (NYSE:AVA) by 8.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 519,946 shares of the utilities provider’s stock after acquiring an additional 38,651 shares during the period. Principal Financial Group Inc. owned 0.64% of Avista worth $19,659,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Royal Bank of Canada boosted its holdings in shares of Avista by 5.3% during the first quarter. Royal Bank of Canada now owns 65,494 shares of the utilities provider’s stock valued at $2,741,000 after acquiring an additional 3,296 shares during the period. AQR Capital Management LLC lifted its position in Avista by 11.1% in the 1st quarter. AQR Capital Management LLC now owns 69,831 shares of the utilities provider’s stock valued at $2,924,000 after purchasing an additional 6,967 shares during the last quarter. United Services Automobile Association acquired a new position in Avista during the 1st quarter valued at about $201,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Avista by 26.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 283,182 shares of the utilities provider’s stock worth $11,857,000 after purchasing an additional 58,504 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Avista in the first quarter valued at approximately $134,000. 85.24% of the stock is currently owned by institutional investors and hedge funds.

Avista Price Performance

Shares of NYSE AVA opened at $41.51 on Monday. Avista Corporation has a twelve month low of $35.50 and a twelve month high of $43.09. The company has a current ratio of 0.91, a quick ratio of 0.60 and a debt-to-equity ratio of 1.06. The firm has a 50-day moving average of $39.47 and a two-hundred day moving average of $38.53. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 2.13 and a beta of 0.28.

Avista Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, November 24th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Monday, November 24th. This represents a $1.96 annualized dividend and a dividend yield of 4.7%. Avista’s dividend payout ratio (DPR) is currently 83.40%.

Analysts Set New Price Targets

Several brokerages have weighed in on AVA. Mizuho set a $42.00 target price on Avista in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Avista in a report on Monday, December 29th. KeyCorp reiterated a “sector weight” rating on shares of Avista in a research report on Tuesday, January 27th. Jefferies Financial Group dropped their price target on shares of Avista from $41.00 to $39.00 and set a “hold” rating on the stock in a research report on Wednesday, January 28th. Finally, Wells Fargo & Company decreased their price objective 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. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $39.33.

Insider Activity

In related news, SVP Wayne O. Manuel sold 1,785 shares of Avista stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $38.74, for a total value of $69,150.90. Following the transaction, the senior vice president directly owned 9,883 shares in the company, valued at $382,867.42. The trade was a 15.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.94% of the stock is owned by insiders.

Avista Company Profile

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.