US stock futures flounder amid tech weakness, Fed caution
David J. Meyer, Vice President at Avista Corp (NYSE:AVA), a $3.2 billion utility company trading near its 52-week high, recently sold 2,000 shares of the company’s common stock. According to InvestingPro analysis, the stock’s RSI suggests overbought territory. The shares were sold at a price of $39.66 each, totaling approximately $79,317. Following this transaction, Meyer owns 9,170 shares directly. Additionally, Meyer holds an estimated 6.62 shares in a 401(k) plan and 3,688.86 shares in an executive deferral plan. This transaction was reported in a Form 4 filing with the Securities and Exchange Commission. The company maintains a strong dividend track record, having raised dividends for 22 consecutive years with a current yield of 4.9%. For deeper insights into insider transactions and comprehensive financial analysis, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, Avista Corporation announced its fourth-quarter 2024 earnings, reporting an earnings per share (EPS) of $0.84, which was below the forecasted $0.89. Despite this shortfall, the company achieved a revenue of $517 million, surpassing the expected $487.48 million. This revenue beat likely contributed to a positive investor response. Avista’s capital investment in utilities reached a record $510 million for the year. The company has set its EPS guidance for 2025 between $2.52 and $2.72. Analysts from firms such as Guggenheim Partners inquired about Avista’s 2025 guidance, focusing on the company’s strategy amid past challenges. Additionally, Avista plans further capital investments of $525 million in 2025, with a long-term projection of $3 billion from 2025 to 2029. The company also intends to increase its dividend to $1.96 per share, with a targeted payout range of 65-75%.
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