In a recent transaction on May 10, Joshua D. DiLuciano, Vice President of Avista Corp (NYSE:AVA), sold 800 shares of the company's common stock at a price of $38.24 per share. The total value of the shares sold amounted to $30,592.
The sale by DiLuciano was disclosed in a filing with the Securities and Exchange Commission. Following the transaction, DiLuciano's holdings in Avista Corp decreased, leaving him with a total of 6,342 shares in the company.
Avista Corp, based in Spokane, Washington, operates within the electric and other services combined sector, historically known as Washington Water Power Co. The company's shares are publicly traded on the New York Stock Exchange under the trading symbol AVA.
Investors often monitor the buying and selling activities of company executives as they can provide insights into the company's performance and future prospects. The sale of shares by a company executive like DiLuciano is a routine disclosure required by the SEC and does not necessarily indicate a change in the company's outlook or performance.
Shareholders and potential investors can access the full details of the transaction on the SEC's website, which provides transparency into the trading activities of corporate insiders.
InvestingPro Insights
As investors digest the recent insider trading activity at Avista Corp, it's worth considering the broader financial context in which these transactions occur. With a market capitalization of approximately $3.01 billion and a price-to-earnings (P/E) ratio of 15.87, Avista Corp appears to be trading at a valuation that is reflective of its near-term earnings growth. In fact, the adjusted P/E ratio as of the last twelve months ending with Q1 2024 stands at 15.81, aligning closely with the current P/E ratio.
One of the notable InvestingPro Tips for Avista Corp is its consistent history of dividend payments, having maintained them for 54 consecutive years. This could be a signal of the company's commitment to returning value to shareholders, and with a dividend yield of 4.95%, it is an aspect that income-focused investors may find particularly attractive. Additionally, Avista Corp has managed to raise its dividend for 21 consecutive years, which might be interpreted as a sign of confidence in the company's financial stability and future prospects.
Looking at performance metrics, Avista Corp has experienced a strong return over the last three months, with a price total return of 20.58%. This could be indicative of positive market sentiment and a robust financial position. Moreover, the company's revenue growth of 9.49% over the last twelve months ending with Q1 2024 suggests a healthy expansion in its business operations.
For those seeking further insights and analysis, InvestingPro offers additional tips on Avista Corp, which can be accessed through the platform. Readers interested in delving deeper into the company's financials and forecasts can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing a more comprehensive look at the company's performance and potential investment opportunities.
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