Municipal Employees Retirement System of Michigan Has $1.25 Million Stake in Avista Corporation (AVA)

Municipal Employees Retirement System of Michigan grew its stake in shares of Avista Corporation (NYSE:AVA) by 59.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,160 shares of the utilities provider’s stock after acquiring an additional 8,980 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Avista Corporation were worth $1,251,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Riverhead Capital Management LLC increased its holdings in shares of Avista Corporation by 38.8% during the second quarter. Riverhead Capital Management LLC now owns 2,498 shares of the utilities provider’s stock valued at $106,000 after acquiring an additional 698 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Avista Corporation by 28.8% during the second quarter. PNC Financial Services Group Inc. now owns 2,678 shares of the utilities provider’s stock valued at $114,000 after acquiring an additional 599 shares in the last quarter. Advisor Group Inc. increased its holdings in shares of Avista Corporation by 16.3% during the second quarter. Advisor Group Inc. now owns 2,883 shares of the utilities provider’s stock valued at $123,000 after acquiring an additional 403 shares in the last quarter. CWH Capital Management Inc. bought a new position in shares of Avista Corporation during the second quarter valued at $132,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Avista Corporation by 8.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,145 shares of the utilities provider’s stock valued at $134,000 after acquiring an additional 244 shares in the last quarter. Hedge funds and other institutional investors own 69.70% of the company’s stock.

In related news, VP James M. Kensok sold 4,700 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $52.01, for a total transaction of $244,447.00. Following the sale, the vice president now directly owns 12,787 shares of the company’s stock, valued at $665,051.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Kevin J. Christie sold 500 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $51.81, for a total value of $25,905.00. Following the sale, the vice president now directly owns 1,992 shares in the company, valued at $103,205.52. The disclosure for this sale can be found here. Insiders have purchased 173,000 shares of company stock worth $47,980 over the last ninety days. 1.10% of the stock is currently owned by insiders.

Several equities analysts have recently weighed in on the company. KeyCorp restated a “hold” rating on shares of Avista Corporation in a report on Friday, October 20th. Zacks Investment Research upgraded Avista Corporation from a “sell” rating to a “hold” rating in a report on Monday, October 16th. Finally, BidaskClub upgraded Avista Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $47.75.

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Shares of Avista Corporation (NYSE AVA) opened at $51.92 on Monday. The company has a current ratio of 0.47, a quick ratio of 0.37 and a debt-to-equity ratio of 0.92. Avista Corporation has a 12-month low of $37.78 and a 12-month high of $52.83. The company has a market capitalization of $3,344.44, a price-to-earnings ratio of 25.20 and a beta of 0.44.

Avista Corporation Company Profile

Avista Corporation is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). The Company’s regional services include government and higher education, medical services, retail trade and finance. The Company’s businesses also include sheet metal fabrication, venture fund investments, real estate investments, a company that explores markets that could be served with liquefied natural gas (LNG), as well as certain other investments of Avista Capital, which is a subsidiary of the Company.

Institutional Ownership by Quarter for Avista Corporation (NYSE:AVA)

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