Whittier Trust Co. of Nevada Inc. Sells 3,000 Shares of Avista Corp (NYSE:AVA)

Whittier Trust Co. of Nevada Inc. lessened its position in shares of Avista Corp (NYSE:AVA) by 27.3% in the second quarter, HoldingsChannel.com reports. The fund owned 7,992 shares of the utilities provider’s stock after selling 3,000 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Avista were worth $356,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Avista by 8.1% during the 1st quarter. BlackRock Inc. now owns 12,524,697 shares of the utilities provider’s stock worth $508,754,000 after acquiring an additional 938,978 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Avista during the 1st quarter worth approximately $40,892,000. First Trust Advisors LP lifted its holdings in shares of Avista by 34.6% during the 1st quarter. First Trust Advisors LP now owns 715,688 shares of the utilities provider’s stock worth $29,071,000 after acquiring an additional 184,100 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Avista by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 687,166 shares of the utilities provider’s stock worth $29,190,000 after acquiring an additional 45,108 shares during the period. Finally, OLD Republic International Corp lifted its holdings in shares of Avista by 67.7% during the 1st quarter. OLD Republic International Corp now owns 674,000 shares of the utilities provider’s stock worth $27,378,000 after acquiring an additional 272,000 shares during the period. 78.17% of the stock is owned by institutional investors.

A number of brokerages have recently weighed in on AVA. KeyCorp reaffirmed an “underweight” rating and set a $35.00 price target on shares of Avista in a report on Wednesday, June 5th. Zacks Investment Research raised shares of Avista from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Monday, July 22nd. TheStreet raised shares of Avista from a “c+” rating to a “b-” rating in a report on Monday, June 10th. Bank of America began coverage on shares of Avista in a report on Thursday, May 9th. They set an “underperform” rating and a $43.00 price target for the company. Finally, ValuEngine raised shares of Avista from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Avista presently has a consensus rating of “Hold” and a consensus target price of $41.60.

In related news, VP Kevin J. Christie sold 780 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $41.78, for a total transaction of $32,588.40. Following the completion of the transaction, the vice president now directly owns 9,229 shares in the company, valued at approximately $385,587.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Marian M. Durkin sold 10,004 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $44.11, for a total transaction of $441,276.44. Following the transaction, the insider now owns 78,451 shares of the company’s stock, valued at $3,460,473.61. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,986 shares of company stock valued at $1,672,624. 1.10% of the stock is owned by corporate insiders.

AVA stock traded down $0.65 during trading on Friday, reaching $45.49. 240,419 shares of the company were exchanged, compared to its average volume of 357,716. The business’s 50-day moving average is $45.06. The company has a market capitalization of $3.03 billion, a P/E ratio of 21.56, a price-to-earnings-growth ratio of 7.21 and a beta of 0.41. Avista Corp has a twelve month low of $39.75 and a twelve month high of $52.70. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.64 and a quick ratio of 0.54.

Avista (NYSE:AVA) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.31). The company had revenue of $377.70 million for the quarter. Avista had a return on equity of 6.48% and a net margin of 14.26%. Avista’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company posted $0.83 EPS. As a group, research analysts forecast that Avista Corp will post 1.93 earnings per share for the current fiscal year.

Avista Company Profile

Avista Corporation operates as an electric and natural gas utility company. It operates through 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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