Legato Capital Management LLC Sells 18,771 Shares of Avista Co. (NYSE:AVA)

Legato Capital Management LLC reduced its position in shares of Avista Co. (NYSE:AVA - Free Report) by 51.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. 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.

Several other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Wealth Management L.L.C. bought a new position in shares of Avista in the third quarter worth about $28,000. Capital Performance Advisors LLP acquired a new position in Avista in the third quarter valued at approximately $29,000. Versant Capital Management Inc lifted its stake in shares of Avista by 43.0% in the 4th quarter. Versant Capital Management Inc now owns 1,723 shares of the utilities provider's stock valued at $63,000 after purchasing an additional 518 shares during the period. Eastern Bank lifted its stake in shares of Avista by 309.3% in the 4th quarter. Eastern Bank now owns 1,842 shares of the utilities provider's stock valued at $67,000 after purchasing an additional 1,392 shares during the period. Finally, Newbridge Financial Services Group Inc. lifted its stake in shares of Avista by 183.8% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,856 shares of the utilities provider's stock valued at $68,000 after purchasing an additional 1,202 shares during the period. 85.24% of the stock is owned by institutional investors.

Avista Stock Performance

NYSE:AVA traded down $0.46 during mid-day trading on Monday, hitting $36.80. The stock had a trading volume of 306,857 shares, compared to its average volume of 415,354. Avista Co. has a twelve month low of $32.53 and a twelve month high of $39.99. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 2.76 and a beta of 0.49. The company's 50 day simple moving average is $36.52 and its 200 day simple moving average is $37.57. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 26th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This is an increase from Avista's previous quarterly dividend of $0.48. This represents a $1.96 annualized dividend and a yield of 5.33%. Avista's dividend payout ratio (DPR) is 78.09%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group cut their price target on Avista from $40.00 to $39.00 and set a "hold" rating on the stock in a research note on Tuesday, January 28th.

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.