In a recent transaction on May 30, 2024, Latisha Diane Hill, Vice President of Avista Corp (NYSE:AVA), sold 1,700 shares of the company's common stock. The sale was executed at an average price of $36.21 per share, resulting in a total transaction value of $61,557. Following the sale, Hill's direct ownership in Avista Corp stands at 11,085 shares.
The transaction was disclosed in a regulatory filing with the Securities and Exchange Commission. Avista Corp, based in Spokane, Washington, operates within the electric and other services combined sector under the SIC code 4931. The company, formerly known as Washington Water Power Co., has been incorporated in Washington and ends its fiscal year on December 31.
This stock sale by a high-ranking executive at Avista Corp is a notable event for investors and the market, as insider transactions can provide insights into a company's financial health and future prospects. It's important for investors to consider such transactions in the broader context of their investment strategy and the company's overall performance.
The details provided in the SEC filing do not necessarily explain the rationale behind the Vice President's decision to sell the shares. However, it is a routine process for executives to engage in transactions involving their company's stock, which can be for a variety of personal or financial reasons.
In addition to her common stock holdings, Hill also has an indirect ownership interest in Avista Corp through an estimated 789.33 shares held in the company's 401(k) plan. This indicates a continued investment in the company through retirement savings, which is common for many corporate executives.
Investors and analysts often monitor insider transactions like these as part of their due diligence on companies. Avista Corp's stock performance and insider transactions are publicly available information that can be accessed through SEC filings and other financial databases.
InvestingPro Insights
Avista Corp (NYSE:AVA) has demonstrated a strong track record of rewarding its shareholders, as evidenced by its impressive history of dividend growth. With a noteworthy dividend yield of 5.27% as of May 2024, the company has proven its commitment to consistent shareholder returns. This is further supported by the fact that Avista has raised its dividend for 21 consecutive years, and has maintained dividend payments for an astounding 54 years.
The company's valuation metrics also suggest an attractive investment proposition. Avista currently trades at a P/E ratio of 14.91, which is appealing when paired with its near-term earnings growth. This is reflected in the company's PEG ratio of 0.51, suggesting that investors are paying less for each unit of earnings growth. Additionally, Avista's revenue growth has been robust, with a 9.49% increase over the last twelve months as of Q1 2024, and an even more impressive quarterly revenue growth of 28.4% in Q1 2024.
For those investors seeking stability, Avista's stock generally trades with low price volatility, which could be an attractive feature for risk-averse investors. Furthermore, analysts predict that the company will be profitable this year, with profitability already demonstrated over the last twelve months.
Interested investors can find more detailed analysis and additional InvestingPro Tips on Avista Corp at Investing.com/pro/AVA. There are currently 6 additional InvestingPro Tips available, which can offer further insights into Avista's financial health and market position. To delve deeper into these insights, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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