Legato Capital Management LLC Reduces Holdings in Avista Co. (NYSE:AVA)

Legato Capital Management LLC trimmed its stake in Avista Co. (NYSE:AVA) by 51.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,766 shares of the utilities provider’s stock after selling 18,771 shares during the period. Legato Capital Management LLC’s holdings in Avista were worth $651,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Avista in the 3rd quarter valued at $28,000. Capital Performance Advisors LLP purchased a new position in Avista during the 3rd quarter worth $29,000. Versant Capital Management Inc grew its position in Avista by 43.0% during the 4th quarter. Versant Capital Management Inc now owns 1,723 shares of the utilities provider’s stock worth $63,000 after purchasing an additional 518 shares during the last quarter. Eastern Bank grew its position in Avista by 309.3% during the 4th quarter. Eastern Bank now owns 1,842 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 1,392 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. grew its position in Avista by 183.8% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,856 shares of the utilities provider’s stock worth $68,000 after purchasing an additional 1,202 shares during the last quarter. 85.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group lowered their price objective on shares of Avista from $40.00 to $39.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th.

Avista Trading Up 0.9 %

Shares of Avista stock opened at $37.30 on Friday. The company has a market capitalization of $2.95 billion, a P/E ratio of 14.86, a PEG ratio of 2.76 and a beta of 0.49. The company’s fifty day moving average is $36.55 and its two-hundred day moving average is $37.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.48 and a current ratio of 0.75. Avista Co. has a 1 year low of $32.02 and a 1 year high of $39.99.

Avista Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 26th will be issued a $0.49 dividend. This is an increase from Avista’s previous quarterly dividend of $0.48. The ex-dividend date is Wednesday, February 26th. This represents a $1.96 annualized dividend and a dividend yield of 5.25%. Avista’s payout ratio is presently 75.70%.

About Avista

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.