Boston Partners Boosts Stock Position in Avnet, Inc. (NASDAQ:AVT)

Boston Partners increased its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 855,519 shares of the company’s stock after purchasing an additional 42,302 shares during the quarter. Boston Partners owned approximately 0.99% of Avnet worth $45,096,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVT. Pacer Advisors Inc. grew its holdings in Avnet by 11,848.6% in the 4th quarter. Pacer Advisors Inc. now owns 2,840,663 shares of the company’s stock valued at $148,623,000 after buying an additional 2,816,889 shares during the period. Raymond James Financial Inc. purchased a new stake in Avnet in the 4th quarter valued at about $32,676,000. Hotchkis & Wiley Capital Management LLC grew its holdings in Avnet by 204.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 690,270 shares of the company’s stock valued at $37,489,000 after buying an additional 463,660 shares during the period. Harbor Capital Advisors Inc. grew its holdings in Avnet by 227.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 214,007 shares of the company’s stock valued at $11,197,000 after buying an additional 148,588 shares during the period. Finally, FMR LLC grew its holdings in Avnet by 24.7% in the 3rd quarter. FMR LLC now owns 576,794 shares of the company’s stock valued at $31,326,000 after buying an additional 114,217 shares during the period. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Bank of America cut Avnet from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $58.00 to $48.00 in a report on Thursday, January 30th. Truist Financial lowered their price target on Avnet from $54.00 to $52.00 and set a “hold” rating for the company in a report on Thursday, January 30th.

Avnet Stock Performance

NASDAQ AVT opened at $49.34 on Thursday. The firm has a market capitalization of $4.27 billion, a P/E ratio of 13.98, a P/E/G ratio of 1.13 and a beta of 1.09. Avnet, Inc. has a 1-year low of $46.13 and a 1-year high of $59.24. 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 business’s 50-day simple moving average is $50.96 and its 200-day simple moving average is $52.67.

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

Avnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend was Wednesday, March 5th. Avnet’s dividend payout ratio (DPR) is presently 37.39%.

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.