Northwest & Ethical Investments L.P. Sells 344 Shares of Avnet, Inc. (NASDAQ:AVT)

Northwest & Ethical Investments L.P. trimmed its holdings in Avnet, Inc. (NASDAQ:AVT) by 3.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,933 shares of the company’s stock after selling 344 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Avnet were worth $539,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. CreativeOne Wealth LLC raised its position in shares of Avnet by 21.7% in the third quarter. CreativeOne Wealth LLC now owns 7,979 shares of the company’s stock valued at $433,000 after purchasing an additional 1,421 shares during the period. FMR LLC lifted its position in shares of Avnet by 24.7% during the 3rd quarter. FMR LLC now owns 576,794 shares of the company’s stock worth $31,326,000 after purchasing an additional 114,217 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new stake in Avnet during the 3rd quarter valued at approximately $209,000. Pathstone Holdings LLC grew its holdings in Avnet by 1.5% in the 3rd quarter. Pathstone Holdings LLC now owns 51,247 shares of the company’s stock valued at $2,783,000 after buying an additional 769 shares during the last quarter. Finally, Natixis Advisors LLC increased its position in Avnet by 10.1% in the 3rd quarter. Natixis Advisors LLC now owns 14,243 shares of the company’s stock worth $774,000 after buying an additional 1,302 shares during the period. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Stock Up 0.9 %

Shares of NASDAQ:AVT opened at $54.71 on Friday. The company has a 50 day moving average price of $54.34 and a two-hundred day moving average price of $53.37. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.07 and a current ratio of 2.25. The company has a market capitalization of $4.76 billion, a PE ratio of 14.32, a PEG ratio of 1.01 and a beta of 1.16. Avnet, Inc. has a 52 week low of $43.62 and a 52 week high of $59.24.

Avnet (NASDAQ:AVT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.86 by $0.06. Avnet had a return on equity of 8.46% and a net margin of 1.51%. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter last year, the business posted $1.61 EPS. The firm’s revenue was down 11.5% compared to the same quarter last year. Analysts forecast that Avnet, Inc. will post 4.09 earnings per share for the current year.

Avnet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.41%. Avnet’s dividend payout ratio (DPR) is 34.56%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AVT shares. Wells Fargo & Company boosted their target price on shares of Avnet from $40.00 to $45.00 and gave the stock an “underweight” rating in a research report on Friday, August 9th. Stifel Nicolaus boosted their price target on Avnet from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Truist Financial raised their price objective on shares of Avnet from $48.00 to $52.00 and gave the stock a “hold” rating in a report on Friday, August 9th.

About Avnet

Avnet, Inc, distributes electronic component technology. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated components from electronic component manufacturers.