Picton Mahoney Asset Management Purchases 25,121 Shares of Avista Corporation $AVA

Picton Mahoney Asset Management lifted its position in shares of Avista Corporation (NYSE:AVA) by 83,736.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 25,151 shares of the utilities provider’s stock after purchasing an additional 25,121 shares during the quarter. Picton Mahoney Asset Management’s holdings in Avista were worth $950,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Salomon & Ludwin LLC bought a new stake in Avista in the 3rd quarter valued at approximately $26,000. Headlands Technologies LLC acquired a new stake in shares of Avista in the second quarter valued at about $37,000. Allworth Financial LP raised its holdings in Avista by 51.7% during the second quarter. Allworth Financial LP now owns 1,585 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 540 shares in the last quarter. GAMMA Investing LLC raised its holdings in Avista by 30.1% during the third quarter. GAMMA Investing LLC now owns 1,769 shares of the utilities provider’s stock worth $67,000 after acquiring an additional 409 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in Avista by 60.0% during the second quarter. Lazard Asset Management LLC now owns 1,949 shares of the utilities provider’s stock valued at $73,000 after purchasing an additional 731 shares during the last quarter. Institutional investors and hedge funds own 85.24% of the company’s stock.

Insider Buying and Selling

In other Avista news, SVP Wayne O. Manuel sold 1,785 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $38.74, for a total transaction of $69,150.90. Following the transaction, the senior vice president owned 9,883 shares in the company, valued at $382,867.42. This trade represents a 15.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Bryan Alden Cox sold 1,768 shares of Avista stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $40.18, for a total value of $71,038.24. Following the sale, the senior vice president directly owned 8,401 shares of the company’s stock, valued at $337,552.18. This represents a 17.39% decrease in their position. The SEC filing for this sale provides additional information. 0.96% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AVA has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price target on Avista from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 20th. Jefferies Financial Group dropped their price objective on Avista from $41.00 to $39.00 and set a “hold” rating on the stock in a research note on Wednesday, January 28th. KeyCorp reissued a “sector weight” rating on shares of Avista in a report on Tuesday, January 27th. Finally, Weiss Ratings raised shares of Avista from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 24th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $39.33.

Avista Price Performance

NYSE:AVA opened at $39.70 on Friday. The company has a market cap of $3.27 billion, a P/E ratio of 16.68, a P/E/G ratio of 2.16 and a beta of 0.28. The firm’s fifty day moving average price is $40.57 and its two-hundred day moving average price is $39.08. Avista Corporation has a one year low of $35.50 and a one year high of $43.50. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.83 and a quick ratio of 0.56.

Avista (NYSE:AVA) last posted its earnings results on Saturday, January 31st. The utilities provider reported $0.88 earnings per share (EPS) for the quarter. Avista had a net margin of 9.83% and a return on equity of 7.29%. Equities analysts expect that Avista Corporation will post 2.3 earnings per share for the current year.

Avista Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Wednesday, February 25th will be issued a dividend of $0.4925 per share. This is a boost from Avista’s previous quarterly dividend of $0.49. This represents a $1.97 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Wednesday, February 25th. Avista’s dividend payout ratio is presently 82.77%.

Avista 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.