In a recent transaction filed with the Securities and Exchange Commission, Jason R. Thackston, Senior Vice President and Chief Strategy and Clean Energy Officer (CSCEO) of Avista Corp (NYSE:AVA), sold 2,500 shares of the company's common stock. The transaction, which took place on May 31, 2024, was executed at an average price of $36.98 per share, resulting in a total value of $92,449.
This sale has adjusted Thackston's direct ownership in the company to a total of 32,506 shares of Avista Corp's common stock. The details of the transaction were made public on June 3, 2024, following the standard reporting procedures.
Avista Corp, with its headquarters in Spokane, Washington, operates within the electric and other services combined industry. The company, formerly known as Washington Water Power Co., has been incorporated in Washington and has a fiscal year-end on December 31.
Investors and the market often monitor the trading activity of insiders such as executives and directors, as these transactions can provide insights into their perspectives on the company's current valuation and future prospects. The sale of shares by a high-ranking executive like Thackston may be of particular interest to current and potential shareholders.
The reported transaction is part of the regular disclosure of stock trades by company insiders, providing transparency to the investing public regarding the financial dealings of Avista Corp's executives.
InvestingPro Insights
As Avista Corp (NYSE:AVA) continues to make headlines with insider trading activity, investors are closely watching the company's financial metrics. According to InvestingPro, Avista Corp boasts a solid track record of rewarding shareholders, having raised its dividend for 21 consecutive years and maintained dividend payments for 54 consecutive years. This commitment to consistent dividend growth is reflected in the company's current dividend yield of 5.14%, a noteworthy figure for income-focused investors.
Moreover, Avista Corp's financial health appears robust with a market capitalization of $2.9 billion and a P/E ratio that stands at 15.22, which is attractive when paired with near-term earnings growth. This low P/E ratio suggests that the company is trading at a discount relative to its earnings potential, an InvestingPro Tip that highlights Avista's investment value. Additionally, the company's revenue has grown by 9.49% over the last twelve months as of Q1 2024, indicating a strong upward trajectory in earnings.
For those looking to delve deeper into Avista Corp's financials and strategic outlook, InvestingPro offers a wealth of additional insights. With the use of coupon code PRONEWS24, investors can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to exclusive data and analysis. Currently, there are 7 more InvestingPro Tips available for Avista Corp, providing a comprehensive understanding of the company's market position and future potential.
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