William Blair Investment Management LLC Has $38.38 Million Holdings in Avnet, Inc. (NASDAQ:AVT)

William Blair Investment Management LLC increased its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 733,566 shares of the company’s stock after acquiring an additional 17,685 shares during the quarter. William Blair Investment Management LLC’s holdings in Avnet were worth $38,380,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AVT. State of New Jersey Common Pension Fund D boosted its stake in Avnet by 3.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 36,052 shares of the company’s stock worth $1,958,000 after acquiring an additional 1,210 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Avnet in the third quarter valued at $676,000. Natixis Advisors LLC lifted its stake in shares of Avnet by 10.1% in the third quarter. Natixis Advisors LLC now owns 14,243 shares of the company’s stock valued at $774,000 after buying an additional 1,302 shares in the last quarter. Pathstone Holdings LLC lifted its stake in shares of Avnet by 1.5% in the third 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 in the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new position in shares of Avnet in the third quarter valued at $209,000. 95.78% of the stock is owned by institutional investors.

Avnet Stock Up 0.9 %

AVT opened at $48.23 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15. The company’s 50-day moving average is $51.09 and its 200 day moving average is $52.74. Avnet, Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $59.24. The firm has a market capitalization of $4.17 billion, a P/E ratio of 13.66, a PEG ratio of 1.13 and a beta of 1.09.

Avnet (NASDAQ:AVT) last released its quarterly earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.01). Avnet had a net margin of 1.41% and a return on equity of 7.49%. Research analysts expect that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Wednesday, March 5th. Avnet’s payout ratio is currently 37.39%.

Analyst Ratings Changes

A number of research firms have weighed in on AVT. Bank of America lowered shares of Avnet from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $58.00 to $48.00 in a research note on Thursday, January 30th. Truist Financial dropped their price objective on shares of Avnet from $54.00 to $52.00 and set a “hold” rating on the stock in a research note on Thursday, January 30th.

Avnet 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.