Boston Partners Has $46.40 Million Stock Holdings in Avnet, Inc. (NASDAQ:AVT)

Boston Partners lessened its stake in Avnet, Inc. (NASDAQ:AVT) by 1.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 934,090 shares of the company’s stock after selling 16,125 shares during the quarter. Boston Partners owned about 1.03% of Avnet worth $46,397,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in Avnet in the first quarter valued at about $29,000. Venturi Wealth Management LLC increased its holdings in shares of Avnet by 46.5% in the fourth quarter. Venturi Wealth Management LLC now owns 655 shares of the company’s stock worth $33,000 after acquiring an additional 208 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of Avnet by 1,113.5% in the first quarter. Hexagon Capital Partners LLC now owns 898 shares of the company’s stock worth $45,000 after acquiring an additional 824 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Avnet in the fourth quarter worth about $63,000. Finally, Quadrant Capital Group LLC increased its holdings in shares of Avnet by 40.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,450 shares of the company’s stock worth $73,000 after acquiring an additional 420 shares in the last quarter. Institutional investors own 95.78% of the company’s stock.

Insider Activity

In related news, CEO Philip R. Gallagher sold 19,532 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $51.63, for a total transaction of $1,008,437.16. Following the sale, the chief executive officer now owns 140,792 shares of the company’s stock, valued at approximately $7,269,090.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Philip R. Gallagher sold 19,532 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $51.63, for a total transaction of $1,008,437.16. Following the sale, the chief executive officer now owns 140,792 shares of the company’s stock, valued at approximately $7,269,090.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carlo Bozotti sold 9,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $54.40, for a total value of $489,600.00. Following the sale, the director now directly owns 11,578 shares in the company, valued at approximately $629,843.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,532 shares of company stock worth $3,544,957. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Separately, Truist Financial reduced their price objective on Avnet from $49.00 to $48.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $45.00.

Avnet Price Performance

Avnet stock traded down $1.67 during mid-day trading on Friday, reaching $50.76. 594,990 shares of the company were exchanged, compared to its average volume of 562,855. The company has a fifty day simple moving average of $52.77 and a 200-day simple moving average of $49.77. Avnet, Inc. has a 12 month low of $42.67 and a 12 month high of $55.46. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.33 and a quick ratio of 1.05. The firm has a market cap of $4.59 billion, a PE ratio of 8.21 and a beta of 1.16.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.01). Avnet had a net margin of 2.31% and a return on equity of 11.64%. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the previous year, the business posted $2.00 EPS. The company’s revenue for the quarter was down 13.2% on a year-over-year basis. As a group, equities research analysts expect that Avnet, Inc. will post 5.06 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Wednesday, June 5th were paid a $0.31 dividend. The ex-dividend date was Wednesday, June 5th. This represents a $1.24 annualized dividend and a dividend yield of 2.44%. Avnet’s payout ratio is 20.06%.

Avnet Company Profile

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.